CFPB offers more guidance on contacting, responding to troubled borrowers

Federal and state financial institution regulators teamed up Thursday to offer regulatory assistance to financial institutions affected by the wildfires in California that have killed scores of people, left hundreds unaccounted for, and made thousands homeless (as more than an estimated 15,000 houses have been destroyed by the conflagration).

The shift means student borrowers need to be even more vigilant and research. private loans don’t offer the same consumer protections and flexible payment plans that federal loans do. When you.

But “Obama’s student loan forgiveness plan” wasn’t concocted in the White House. It’s a hustler’s invention, a bogus catchphrase designed to raise hopes. Student loan forgiveness scams. s guidance.

 · Requires servicers to offer borrowers with loss mitigation options throughout the life of the loan (1026.41(i)). The current rule requires servicers to consider loss prevention programs and avoid foreclosure one time during the life of the loan.

CFPB Discovers Unfair, Deceptive and Abusive Practices. –  · Between January 2014 and April 2016, the Consumer Financial Protection bureau conducted “supervision work” on mortgage servicers, focusing particularly on compliance with new servicing rules and any unfair, deceptive, and abusive practices. CFPB has issued a report on those findings-and the bureau is not pleased.

As CFPB closes door on payday, OCC opens one for deposit advance. Office of the Comptroller of the Currency surprised the financial services world by making its own move-rescinding guidance that made it more difficult for banks to offer a payday-like product called deposit advance.

JP Morgan’s Dimon: Prime Mortgages Look Terrible Check your bank’s health | KnoxViews – And JP Morgan says: "Prime looks terrible." In a surprisingly short conference call with analysts, Dimon suggested that losses in JP Morgan’s prime mortgage book could triple in the foreseeable future as the credit mess moves out of subprime and into Alt-A and jumbo loans. “prime looks terrible,” he told analysts on the call.Fremont Unloads $4 Billion in Whole Loans Fremont Unloads $4 Billion in Loans March 21, 2007 By justin mchood housingwire reports that Fremont has agreed to sell $4 billion in loans as they continue to exit the subprime lending market as ordered by the FDIC.Cordray, Watt: Mortgage industry matures to meet new regulatory framework The Legal and Regulatory Framework for Innovation and Technology Transfer Dr. Yousheng Zhang, Deputy Director, international technology transfer center tsinghua university, P.R. China University – Industry Collaboration to promote technology transfer November 02, 2011 Hanoi, Viet Nam The legal and regulatory framework for

 · The Consumer Financial Protection Bureau (CFPB) has released new rules for mortgage servicers to follow when responding to mortgage delinquencies and pursuing foreclosure. beginning october 19, 2017, mortgage servicers are to offer homeowners foreclosure protections more than once if the need for protection arises numerous times.

industry in its general compliance with CFPB rules, the Bureau is also releasing an updated mortgage servicing exam manual. The CFPB has put in place new rules that require servicers to maintain accurate records, give troubled borrowers direct and ongoing access to servicing personnel, promptly credit payments, and correct errors on request.

Hospitals and medical groups that offer payment plans with a finance charge or a written agreement to pay in more than four installments. and prerecorded messages to contact consumers. State laws.