The Centers for Disease Control and Prevention’s (CDC) eviction moratorium expired on July 31, 2021. The Acting Director of the Federal Housing Finance Agency, and the Secretaries of the U.S. Department of Agriculture (USDA), U.S. Department of Housing and Urban Development (HUD), U.S. Department of Treasury, and U.S. Department of Veterans Affairs (VA) announced the extension of their foreclosure-related eviction moratoria until September 30, 2021. In Mortgagee Letter 2021-19, dated July 30, 2021, HUD advises that the extension of its […]
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IS LEP GROWING TEETH?
Over the past few years the Department of Housing and Urban Development (HUD) and other federal regulatory agencies have provided several gentle nudges to encourage lenders to adopt procedures to assure applicants with limited English proficiency (LEP) are provided equal access to services. Now the nudges are less gentle. On May 21, 2021, HUD issued a press release announcing that it had reached a Conciliation/Voluntary Compliance Agreement with California-based Cascade Village Apartments II, LP (Cascade […]
FINCEN ISSUES ANPRM ON BENEFICIAL OWNERSHIP REPORTING
On April 1, 2021, FinCEN issued an Advance Notice of Proposed Rulemaking (ANPRM) requesting comments on new beneficial ownership reporting provisions included in the Corporate Transparency Act/Anti-Money Laundering Act of 2020, which was passed into law as part of the National Defense Authorization Act of 2021 on January 1, 2021. The ANPRM, published in the Federal Register on April 5, 2021, is requesting input on procedures and standards for reporting companies to submit information to […]
AGENCIES PROPOSE NEW PRIVATE FLOOD INSURANCE Q&AS
On March 11, 2021, the OCC, Board, FDIC, FCA, and NCUA proposed to supplement the Interagency Flood Insurance Questions and Answers with new interagency questions and answers related to the private flood insurance rules. These newly proposed Questions and Answers Regarding Private Flood Insurance are in addition to the Proposed Interagency Questions and Answers Regarding Flood Insurance that the Agencies released in 2020. In 2020 the Agencies stated in their proposed revisions that since the […]
CFPB RESCINDS ABUSIVE POLICY STATEMENT
On January 24, 2020 the Consumer Financial Protection Bureau (CFPB) approved a Policy Statement that was intended to clarify the meaning of “abusive” in Unfair, Deceptive, or Abusive Acts or Practices. Compliance Resource informed you of this in our blog early last year. The statement provided a framework for the CFPB’s exercise of its supervisory and enforcement authority to address abusive acts or practices in an effort to provide a common-sense framework on how the […]