This paper was prepared by Marsha Courchane and Amand Raman, Partner and co-leader of Skadden’s Consumer Financial Services Litigation and Enforcement practice. The paper discusses default servicing as a priority for federal regulators, enforcement agencies, servicers and their advisors. It was released at the Mortgage Bankers Association Regulatory Compliance Conference 2010.
Community credit needs assessments—why now?
The CFPB has discarded the statistically based analyses that were key to investigating and uncovering systematic patterns. While institutions may find the...