b'Attorney General has instructed mortgage companies to provide confirmation that they have implemented those guidelines, advising that the state intends to use companies responses in evaluating potential enforcement activity. Once COVID-19 is behind us, we anticipate more federal and joint federal-state investigations and enforcement actions of major financial institutions mortgage practices. Though over the past four years agencies have focused on clear-cut instances of consumer harm (e.g., mortgage modification scams), enforcement under the Biden administration may focus on allegedly unfair, deceptive, or abusive practices where the consumer harm is more speculative, attenuated, or difficult to measure. We also expect that, under Mr. Chopras leadership, the CFPB may restore enforcement powers to its Office of Fair Lending, resulting in an uptick in actions aimed at protecting racial and ethnic minorities, women, and other protected groups. Though enforcement activity is unlikely to match Financial Crisis-era levels, due in large part to the industry adjusting its practices in the years since, there is likely to be a notable increase in both the number of mortgage-related enforcement actions and associated settlement amounts and fines in the coming years.What to WatchNew investigations of large mortgage originators and servicers under the Biden administration, especially for fair lending practices.Enforcement actions stemming from investigations of mortgage servicers compliance with COVID-19 regulatory guidance.'