Freddie Mac issued Bulletin 2017-04 (Bulletin), issuing requirements with respect to the new Investor Reporting Change Initiative (Initiative) announced in Bulletin 2016-15. The Bulletin provides detailed requirements with respect to: accounting cycle and investor reporting; the remittance cycle, type and method; accounting reporting methods; calculating the amount of mortgage interest owed to Freddie Mac; and subsequent transfers of servicing. The Bulletin also announces revised requirements with respect to: reporting the inactivation of a mortgage; reporting the full reinstatement of a mortgage; the acceptance of partial payments for a partial reinstatement of a mortgage (currently not allowed); and Freddie Mac’s processing and settling of loan modifications. In addition, the Bulletin: announces the availability of new reports and a new data file in the Service Loans application (beginning May 1, 2019); provides updates to the glossary; sets forth requirements and guidance for transitioning to the Initiative; and extends the implementation date of the Initiative to May 1, 2019 (rather than October, 2018).
CFPB
CFPB Amends Fair Credit Reporting Act with respect to Medical Information
The CFPB adopted rules amending the Fair Credit Reporting Act (FCRA) with respect to medical information. Per the rule adoption, the CFPB removed an exception
January 16, 2025
