The Federal Reserve Board, CFPB, FDIC, OCC, National Credit Union Administration and state financial regulators alerted mortgage servicers that they will resume their respective pre-pandemic supervisory and enforcement approaches towards noncompliance with mortgage-servicing rules.
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The CFPB, Federal Reserve Board, FDIC, National Credit Union Administration and OCC clarified their compliance expectations for mortgage servicers on consumer communication requirements during the pandemic.
The OCC corrected a final rule on "other real estate owned" activities.
The OCC adopted a final rule that will (i) streamline regulations for national banks and (ii) update the regulatory framework for federal savings associations on "other real estate owned" activities.