The Consumer Financial Protection Bureau (CFPB) has recently addressed mortgage industry regulations in a discussion held by director Rohit Chopra. Under Chopra’s leadership, the CFPB is working to craft additional rules for the evolution of the mortgage servicing industry.
Chopra noted that the CFPB’s estimated budget is projected to stay the same in the upcoming years, not taking inflation into account. In addition, Chopra discussed the current state of the mortgage market and touched upon the fact that more attention is being paid to mortgage activities that could have significant implications for consumer safety. The CFPB Director suggested that the industry has recently been under a microscope.
Main Points:
• CFPB crafting additional rules for mortgage servicing industry
• CFPB budget projected to stay the same
• Current state of mortgage market being closely monitored
• Industry being monitored for consumer safety
You can read this full article at: https://www.housingwire.com/articles/rohit-chopra-on-new-mortgage-servicing-rules-basel-iii-and-the-cfpbs-funding/(subscription required)
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