Consumer Financial Protection Bureau (CFPB) Servicing Issues
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The CFPB's Mortgage Servicing Rules helped to standardize mortgage servicing practices and provide important consumer protections. MBA consistently advocates for clarity in guidance for its members so that they can provide consistent, equitable service to all consumers. Providing clear, unambiguous rules for mortgage servicers and recognizing the important and unique relationship between servicers and their customers is critical to ensure a fair and efficient system.
Recent MBA Activity Related to Consumer Financial Protection Bureau (CFPB) Issues
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MBA Letter to CFPB on the Bureau's Request for Information Regarding the Complaint Database
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Joint Letter on Statement of Principles" on HOA Super Priority Liens
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MBA Testimony to Senate Banking Committee on Access to Mortgage Credit
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MBA Letter to House Financial Services Subcommittee in Support of Three Legislative Proposals to Improve CFPB Oversight and Governance
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MBA Letter to CFPB on Increasing Access to Credit for all Qualified Borrowers
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Joint Letter to CFPB Seeking Written Guidance on TRID Along with Restrained Enforcement and Liability
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MBA Letter to CFPB Urging Intake Process Revisions for Complaint Database
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Joint Letter CFPB Seeking LO Comp Rule Clarification on HFA Loans
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MBA Letter to CFPB on Suspending Mortgage Rate Checker Tool
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MBA Letter to CFPB on No-Action Letter Policy