Tag Archives: Consumer Financial Protection Bureau

NAFCU President and CEO Dan Berger wrote Cordray a letter Thursday asking the Director to exempt credit unions from certain rulemakings.

CFPB Director Richard Cordray faced intense criticism from the committee's Republicans, particularly Chairman Jeb Hensarling (R-Texas), who said that Congress has made the Director a “dictator” and given him power that is “amazing, frightening, and tragic.”

The revamped rule appears to be weighing heavy on the minds of many in the mortgage industry as is brings about several new data point requirements that must be fulfilled by lenders.

Consumer Financial Protection Bureau Director Richard Cordray called attention to the mortgage industry, particularly lenders, in a speech on Wednesday, where he highlighted some of the progress and pitfalls that the housing market faces.

Mortgage loans in today's housing market are not keeping homebuyers happy, as they are most complained about product in the eighth volume of the Consumer Financial Protection Bureau's Monthly Complaint Report.

Closing on a home can be an exciting but frustrating process, but recent innovations in mortgage technology have made the process much easier through electronic loan document delivery.

One case in the Consumer Financial Protection Bureau's portfolio has many in the mortgage industry questioning whether or not the organization's power and authority is used unjustly. Unlike other government agencies, the power of the agency is left on one man's shoulders: CFPB Director Richard Cordray.

Michael Flynn, a partner in Goodwin Procter’s Financial Institutions Group sat down with MReport to explain how the HMDA rule is shaking up the mortgage industry and advises on how to cope with the changes.

In July 2015, Steven L. Antonakes, the Consumer Financial Protection Bureau (CFPB)'s second-in-command official, announced in a memo to employees that he would step down from his position with the Bureau. To replace Antonakes, the CFPB named Meredith Fuchs to serve as Acting Deputy Director.

Lenders have been troubled by the Home Mortgage Disclosure Act (HMDA) data points for many years, but they may see some relief in the near future.