Category Archives: Information

Default Registration Fees–NY DFS Requests Feedback

The Department is currently reviewing the request to limit the registrations fees as well as the look back period that would be covered by its Industry Letter – Guidance to New York State Regulated Mortgage Lenders and Servicers Relating to Fees Paid to Register Mortgages in Default. Note that this should only include New York properties In order for the Department to adequately address the issues raised, we are asking for the following information: Total Amount of Base registration fee paid to register properties in…

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2020 Convention Meeting the Challenge


New York MBA is holding a series of Webinars to engage members, share information and discuss the current lending environment. All members are invited to attend, and all employees of member companies are eligible to attend for free. Future members are able to attend one complimentary webinar session. Additional sessions can be accessed for a nominal fee. Future members can join New York MBA at any time by going to our membership page or by clicking here. New York MBA addresses all facets of the…

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urban housing outline

March Forum

Revitalizing Communities and Forging New Partnerships Restoring zombie properties for New York municipalities and consumers is paramount.   This event provided a starting point positive discussion on revitalizing communities with experts in the fields of fast-track foreclosure law, property preservation, mortgage loan servicing as well as elected officials and community stakeholders.  Neighborhood reinvestment and tools to rehabilitate properties in New York were explored in this 1/2 day workshop for those interested in improving communities throughout New York. WHO ATTENDED Mortgage Loan Servicers State & Local Elected Officials…

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Clearer Ruling is Good News, Borrowers / Lenders

The Bureau of Consumer Financial Protection (Bureau) is amending Federal mortgage disclosure requirements under the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA) that are implemented in Regulation Z. The amendments relate to when a creditor may compare charges paid by or imposed on the consumer to amounts disclosed on a Closing Disclosure, instead of a Loan Estimate, to determine if an estimated closing cost was disclosed in good faith. The TILA-RESPA Rule requires creditors to provide consumers with good…

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MBA Submits Comment Letter on CFPB RFI on Civil Investigative Demands

On Apr. 26, MBA submitted comments on the Consumer Financial Protection Bureau’s Request for Information on Civil Investigative Demands. MBA’s comments communicated many of the industry’s concerns with the CID process. In addition to offering comments related to the CID process, MBA reiterated its support for a broad reexamination of Bureau practices as detailed in MBA’s CFPB 2.0: Advancing Consumer Protection white paper. CIDs are used by the Bureau to request information that may be relevant to a potential violation of consumer financial protection law.…

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NYMBA’s Legislative Committee continuously monitors state and national bills related to the real estate finance industry. If you’re not a member of Mortgage Action Alliance, you’re missing out on an opportunity to participate in the law making process and have your voice heard! The Mortgage Action Alliance (MAA) is a voluntary, non-partisan and free nationwide grassroots lobbying network of real estate finance industry professionals, affiliated with the Mortgage Bankers Association (MBA). MAA is dedicated to strengthening the industry’s voice and lobbying power in Washington, DC…

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