In the May 6, 2021 issue of the Federal Register (86 FR 24303), the U.S. Department of Labor (DOL) through its Wage and Hour...
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Read articles below for analysis and discussion of recent trends by BM&G’s industry experts.
CFPB Final Rule Delays Mandatory Compliance Date for the March 1, 2021 General Qualified Mortgage Loan Definition
In the April 30, 2021 issue of the Federal Register (86 FR 22844), the Bureau of Consumer Financial Protection (Bureau)...
FHA Updates Handbook 4000.1 Section III, Servicing and Loss Mitigation
On April 19, 2021, the Federal Housing Administration (FHA) announced the publication of its update to the Servicing and Loss...
Fannie Mae Lender Letter 2021-09 and Freddie Mac Bulletin 2021-13
On April 8, 2021, Fannie Mae issued Lender Letter 2021-09, and Freddie Mac issued Bulletin 2021-13 (see attachments) regarding...
CFPB Proposes Regulation X Amendments to Assist Borrowers Affected by the COVID–19 Emergency
In the April 9, 2021 issue of the Federal Register (86 FR 18840), the Bureau of Consumer Financial Protection (Bureau) published...
Federal Reserve Board Adopts Statement Clarifying the Role of Supervisory Guidance
In the April 8, 2021 issue of the Federal Register (86 FR 18173), the Board of Governors of the Federal Reserve System (Board)...
CFPB Bulletin 2021-02: Supervision and Enforcement Priorities Regarding Housing Insecurity
In the April 7, 2021 issue of the Federal Register (86 FR 17897), the Consumer Financial Protection Bureau (CFPB) issued...
CFPB Rescinds Seven Policy Statements to Ensure Industry Complies With Consumer Protection Laws
On March 31, 2021, the Consumer Financial Protection Bureau (CFPB) announced it is rescinding seven policy statements issued...
Request for Information and Comment on Financial Institutions’ Use of Artificial Intelligence, Including Machine Learning
In the March 31, 2021 issue of the Federal Register (86 FR 16837), the FRB, CFPB, FDIC, NCUA, and OCC (the Agencies) published a...
CFPB Rescinds Statement of Policy Regarding Prohibition on Abusive Acts or Practices
In the March 19, 2021 issue of the Federal Register (86 FR 14808), the Consumer Financial Protection Bureau (CFPB) rescinded the...