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 General QM Loan Definition
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MBA Letter to BCFP on Advisory Opinion Program
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Joint Letter to CFPB on RFI on ECOA
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MBA Letter to CFPB on QM Extension of Sunset Date
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MBA Letter to CFPB on Facilitating the LIBOR Transition
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Joint Letter to Senate Sponsor on CFPB commission
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MBA Letter to CFPB on RFI: Assist the Taskforce on Federal Consumer Financial Law
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MBA Letter to House and Senate on CARES Act Implementation
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MBA Letter to HUD on Loss Mitigation Options for Single Family Borrowers Affected by the Presidentially-Declared COVID-19 National Emergency in Accordance with the CARES Act
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Joint Letter to the Federal Banking Agencies on QRM Review - Credit Risk Retention
