Indecomm-Mortgage U, a full-service training company serving the mortgage industry, announced the development of a new suite of training tools designed to help bring lenders in compliance with the Consumer Financial Protection Bureau's (CFPB) soon to be implemented integrated mortgage disclosure rule.
Read More »CFPB Proposes to Expand Foreclosure Protections
The Consumer Financial Protection Bureau (CFPB) proposed on Thursday an additional set of measures designed to expand foreclosure protections for mortgage borrowers.
Read More »FDIC Unveils Technical Assistance Videos for Mortgage Rules
In an announcement Wednesday, FDIC introduced the first in what the agency says will be a series of technical assistance videos developed in the wake of this year's mortgage regulations handed down from the Consumer Financial Protection Bureau (CFPB).
Read More »Lenders: Increasing Mortgage Availability Not Worth Regulatory Risk
In a poll conducted by the Collingwood Group throughout October, 71 percent of mortgage lenders said the odds of them lowering credit score requirements for borrowers are between "somewhat" and "extremely unlikely," with several saying they feel their standards are already relatively low and that they generally follow the credit parameters set by agency investors.
Read More »California Lender to Pay $730K Over Alleged Mortgage Steering
The Consumer Financial Protection Bureau (CFPB) ordered California-based mortgage lender Franklin Loan Corporation to pay $730,000 in restitution for rewarding its employees with bonuses for suggesting loans with higher interest rates to borrowers.
Read More »What’s Next for CFPB after the Midterms?
With the midterm election in the rearview, Democrats are circling the wagons to protect what will certainly be a top priority on the Republicans' list of changes to makeāthe Consumer Financial Protection Bureau (CFPB).
Read More »Housing Industry Collaborates to Create CFPB Complaint Tracking Report
The CFPB Complaint Tracking Report, produced by Black Knight, will incorporate data contributed by both servicers and CFPB. Dori Daganhardt, VP of product marketing and market strategy at Black Knight, said she expects the report to help level the playing field in terms of transparency and education. She said the servicers and regulators will work together to determine the level of granularity contained in the report.
Read More »Nearly 500K Homeowners May Be Affected by Faulty Servicing Records
As the Consumer Financial Protection Bureau (CFPB) puts a more focused eye on mortgage servicing transfers, one document processing firm says faulty servicer database records could impact hundreds of thousands of homeowners across the country.
Read More »Compliance, Risk Management Concerns Continue to Build
In a report released Wednesday, Wolters Kluwer Financial Services (WKFS) said its Regulatory & Risk Management Indicator increased again to 128, reflecting a 28 percent rise since its baseline score established in January 2013. Looking at compliance challenges, 72 percent of banker respondents listed "maintaining compliance with changing regulations" as one of their top concerns, up from 67 percent at the start of last year.
Read More »NAR Urges Cordray Not to Cut Out Mini-Correspondents
The National Association of Realtors (NAR) recently sent a letter to the director of the Consumer Financial Protection Bureau (CFPB) urging the agency to adopt a cautious approach as it puts greater scrutiny on brokers operating under the "mini-correspondent" lender model. The letter comes months after the bureau signaled it will be watching out for brokers trying to skirt its compensation rules by operating the same way under a different label.
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