Home >> Tag Archives: Consumer Financial Protection Bureau (page 10)

Tag Archives: Consumer Financial Protection Bureau

CFPB Moving Proposed TRID Extension Date from October 1 to October 3

The Consumer Financial Protection Bureau (CFPB) has announced a proposed amendment to the Know Before You Owe mortgage rule, commonly known as the TILA-RESPA Integrated Disclosure (TRID) rule, which would move the effective date of the rule to Saturday, October 3, 2015. According to CFPB, the Bureau is issuing the proposed amendment to correct an "administrative error" that would have pushed the TRID effective date back at least two weeks from its original effective date of August 1, 2015.

Read More »

CFPB Points Out Illegal Mortgage Activities in Supervisory Report

In order to provide transparency, reduce risks to consumers, and comply with Federal consumer financial law, the Consumer Financial Protection Bureau (CFPB) recently shared its eighth Supervisory Highlights report. The report covers the illegal practices that the Bureau uncovers in areas such as consumer reporting, debt collection, student loan servicing, mortgage origination, mortgage servicing, and fair lending for the first four months of the year.

Read More »

CFPB Investigates Mortgage Rate Compression Tool

As a warning to mortgage industry lenders, the Consumer Financial Protection Bureau (CFPB) is investigating Bankrate’s mortgage rate comparison tool on Bankrate.com. Bankrate discussed the CFPB investigation in a recent Securities and Exchange Commission (SEC) filing.

Read More »

CFPB Postpones TRID Effective Date to October 1

A proposal to delay the effective date of the TILA-RESPA Integrated Disclosure (TRID) rule was announced on Wednesday by the Consumer Financial Protection Bureau (CFPB). The proposal is requesting that the TRID rule be postponed until October 1, 2015 due to an administrative error. The TRID rule was originally set to go into effect on August 1, 2015.

Read More »

TRID Concerns Linger Despite Recent CFPB ‘Grace Period’ Announcement

Despite the recent announcement from the Consumer Financial Protection Bureau (CFPB) to provide a grace period for servicers attempting to comply in good faith with the TILA-RESPA Integrated Disclosure (TRID) requirements that are scheduled to go into effect August 1, lingering TRID concerns remain. The Association of Mortgage Professionals (NAMB) and other housing associations, requested today in a letter that the CFPB implement a hold-harmless period on TRID enforcement. Many housing industry groups are supporting legislation that would above this period, the press release says.

Read More »

CFPB to Continue Limiting Credit Availability, Survey Says

application

​The American Bankers Association’s (ABA’s) 22nd Annual Real Estate Lending Survey determined that 90 percent of the typical bank’s mortgage loans made last year were qualified mortgages (QMs). The survey also found that 78 percent of respondents expect the Consumer Financial Protection Bureau’s (CFPB’s) mortgage lending rules will continue to limit credit availability, while 19 percent labeled the impact as severe.

Read More »

Fed Agencies Issue Final Standards for Diversity and Practices of Regulated Entities

Today, in joint release the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC) agencies issued a final interagency policy statement establishing joint standards for assessing the diversity policies and practices of the entities they regulate.

Read More »

Subscribe to MDaily

MReport is here for you to stay on top of important developments in the mortgage marketplace. To begin receiving each day’s top news, market information, and breaking news updates, absolutely free of cost, simply enter your email address below.