Here are a few recent, credible developments in U.S. mortgage-related law and regulation (useful for lenders/servicers and compliance teams):
CFPB and “1071 Rule” timing
- The CFPB adopted a final rule extending compliance dates for the 1071 rule (data-collection requirements for certain mortgage lending activity), amid litigation and ongoing regulatory activity around the rule.[1]
Ongoing mortgage servicing / default-related obligations
- The HUD extended compliance dates for portions of its “Modernization of Engagement With Mortgagors in Default” rule (originally associated with protections/requirements when borrowers are in default).[2]
State foreclosure / borrower notification changes (example: California)
- California passed new mortgage borrower protections involving foreclosure notification and sale requirements for mortgage lenders, effective January 1, 2025.[3]
Where to watch for “latest” updates
Because “mortgage law” changes frequently across federal rules, state foreclosure/servicing laws, and litigation, the most reliable places to track near-real-time updates are:
- Federal regulator rulemakings and enforcement (especially CFPB), and federal court/litigation trackers related to major rules like 1071.[1]
- State-specific foreclosure/servicing statutes and amendments (e.g., California’s recent package).[3]
If you tell me which state you care about (you’re in Piscataway, NJ, so I can focus on New Jersey) and whether you mean mortgage lending rules, foreclosure/servicing, or litigation, I’ll narrow this to the most relevant “latest news” for that exact niche.
Sources
On September 22, 2025, California Governor Gavin Newsom signed Assembly Bill 238, which took immediate effect as an urgency statute. The new Mortgage Forbearance Act (the Act) can be found in section 3273.20 et seq. of the...more On September 22, 2025, California Gov. Gavin Newsom signed the Mortgage Forbearance Act into law, with an immediate effective date. The law, designed to provide emergency relief to California mortgage loan borrowers impacted...more
www.jdsupra.comDecember 19 – Read the newsletter below for the latest Mortgage Banking and Consumer Finance industry news, written by Ballard Spahr attorneys. In this issue, we discuss end-of-year happenings at the FTC, a slew of rules issued by the CFPB this week, the latest industry insights about the incoming new administration, and much more.
www.ballardspahr.comOn September 20, Governor Newsom signed AB 2424, which establishes a significant set of new foreclosure notification and sale requirements for mortgage lenders. The law is effective as of January 1, 2025....more
www.jdsupra.comOctober 16 – Read the newsletter below for the latest Mortgage Banking and Consumer Finance industry news, written by Ballard Spahr attorneys. In this issue, our lawyers discuss how the government shutdown is affecting housing programs but not financial regulators, the CFPB’s adoption of a final rule extending compliance dates for the 1071 Rule, recent consumer financial services developments at the FTC, and much more.
www.ballardspahr.comGet the latest mortgage lending industry updates from Fannie Mae, the CFPB, and more to improve your financial institution’s compliance management system.
www.ncontracts.comControversial mortgage laws passed last year state that, if at any point during the maturation period of the loan the person in whose name it is taken is not able to meet the payments, that ...
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