On July 29, the following four CFPB-related bills were passed by the House Financial Services Committee: H.R. 3192, the “Homebuyers Assistance Act”: The bill would provide a hold harmless period for the TILA/RESPA Integrated...more
8/10/2015
/ Anti-Steering Rules ,
Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Department of Justice (DOJ) ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
First Time Homebuyers ,
Lenders ,
Minority-Owned Businesses ,
Mortgage Lenders ,
Mortgages ,
Real Estate Market ,
Small Business ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Women-Owned Businesses
The CFPB issued a report on its study of the CFPB’s mortgage loan eClosing project on August 5, 2015, and held a public forum addressing the study results. As we reported, the CFPB launched the eClosing project to determine...more
8/7/2015
/ Banking Sector ,
Banks ,
Closing Documents ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Filing Requirements ,
Financial Institutions ,
Lenders ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
TILA-RESPA Integrated Disclosure Rule (TRID)
On August 5, 2015, the CFPB issued a report on its study of the CFPB’s mortgage loan eClosing project and held a public forum addressing the study results. As we reported, the CFPB launched the eClosing project to determine...more
8/7/2015
/ Banking Sector ,
Banks ,
Borrowers ,
Closing Documents ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Disclosure Requirements ,
Electronic Filing ,
Financial Institutions ,
Mortgage Lenders ,
Mortgages ,
Real Estate Market ,
Real Estate Transactions ,
TILA-RESPA Integrated Disclosure Rule (TRID)
Wednesday, the following four CFPB-related bills were passed by the House Financial Services Committee: H.R. 3192, the “Homebuyers Assistance Act”: The bill would provide a hold harmless period for the TILA/RESPA Integrated...more
7/31/2015
/ Anti-Steering Rules ,
Automotive Industry ,
Automotive Loans ,
Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Financial Institutions ,
Financing ,
First Time Homebuyers ,
Mortgage Loan Originators ,
Mortgages ,
Qualified Mortgage Rule ,
Residential Real Estate Market ,
TILA-RESPA Integrated Disclosure Rule (TRID)
CFPB Director Cordray issued a statement yesterday afternoon indicating that the CFPB will propose to delay the effective date of the TILA/RESPA Integrated Disclosure (TRID) rule until October 1, 2015. The CFPB has previously...more
While not agreeing to the grace period from enforcement sought by lawmakers and industry, Director Cordray stated in a letter sent yesterday to members of Congress that the CFPB “will be sensitive to the progress made by...more
The CFPB along with five other federal agencies have issued a final rule that establishes minimum state registration and substantive requirements for appraisal management companies (AMCs), as required by Section 1473 of the...more
The American Bankers Association has sent a letter to the CFPB requesting several clarifications to the mortgage servicing rules. The ABA asks the CFPB to make the clarifications part of “regulatory guidance (or regulatory...more
The CFPB has announced that it has issued a Consent Order to settle charges that a mortgage lender and its principal violated RESPA Section 8 by paying illegal kickbacks to a bank in exchange for mortgage loan referrals....more
1/17/2014
/ Banking Sector ,
Borrowers ,
Consumer Financial Protection Bureau (CFPB) ,
Contract Drafting ,
Disgorgement ,
Dodd-Frank ,
HUD ,
Kickbacks ,
Lenders ,
Real Estate Market ,
RESPA