I have good news and bad news, which do you normally prefer receiving first? Today (7/11) is Slurpee Day at 7-Eleven (good news), where Citigroup executives might want to head to cheer themselves up after the Federal Reserve Board on Wednesday fined Citigroup $60.6 million (bad news, at least for them) for violating the Board’s 2020 enforcement action, insufficient progress in remediating its problems with data quality management, and failing to implement compensating controls to manage its ongoing risk. When I think of enforcement actions, I think of the CFPB, and yesterday the CFPB was also in the news, issuing a Notice of Proposed Rulemaking related to the mortgage servicing rules in Regulation X. The proposal, if finalized, would require mortgage servicers to focus on helping borrowers, not foreclosing, when a homeowner asks for help. More on that below. And if you’re looking for opinions on that news, check out Last Word tomorrow at 10am PT/1pm ET hosted by Kevin Peranio and Brian Vieaux. (Today’s podcast is found here and this week’s is sponsored by nCino, makers of the nCino Mortgage Suite for the modern mortgage lender, uniting the people, systems, and stages of the mortgage process. Hear an interview with Professor Subodha Kumar on the features of future smart homes.) Lender and Broker Software, Services, and Products “All DPA roads lead to Essex! Essex Mortgage is pleased to announce that they now offer a new 5 percent Down Payment Assistance program, along with improved pricing on 3.5 percent DPA forgivable option. But that’s not all! Essex is also proud to be the master servicer for an innovative FHA loan program. This unique product allows a Government Entity to purchase a property and offer a lease option to consumers who may not qualify for traditional financing. Clients can now secure equitable title after 18 months, opening new doors for homeownership. An added benefit of this program is it allows realtor partners to close their sale as part of the process. Don’t miss out on these exciting opportunities: reach out to your Account Executive today.