Ambiguity and/or delays in the loan modification process were a frequent subject of the monthly complaints report and mortgage credit access will be expanded to rural areas.
Read More »Regulatory Burden and Compliance Tackled by Industry Experts
With regulatory oversight continuing to weigh heavier on the mortgage industry, compliance may be the only solution to avoid fines and penalties.
Read More »Audit Determines CFPB’s Consumer Complaint Database Could be Enhanced
Opportunities exist to enhance the management controls over the Consumer Financial Protection Bureau's controversial Consumer Complaint Database, according to a recent audit from the Office of the Inspector General for both the Federal Reserve and the CFPB.
Read More »Marketing Compliance for Today’s Lenders
Commentary is an ongoing series on theMReport.com that focuses on opinions, ideas, and insights from experts across mortgage banking. Lenders in today's market often face compliance challenges that bring the Consumer Financial Protection Bureau to their door with a huge fine. Mary Beth Doyle, founder of LoyaltyExpress examines these compliance issues and advises lenders on an effective way to avoid regulatory repercussions.
Read More »Countdown to TRID–The Final Implementation Checklist
Commentary is an ongoing series on theMReport.com that focuses on opinions, ideas, and insights from experts across mortgage banking. This advisory piece features Tim Anderson, director of eServices for DocMagic, Inc., providing a final checklist to ensure mortgage lenders and servicers are fully prepared for TRID and avoid costly fines.
Read More »TRID: One Month Away, Are You Prepared?
Commentary is an ongoing series on theMReport.com that focuses on opinions, ideas, and insights from experts across mortgage banking. It’s official! The TRID rule goes into effect one month from today. Are you prepared? John Vong of ComplianceEase and Jonathan Kunkle of GuardianDocs weigh-in on the upcoming TRID implementation date and what companies can do to ensure their technology is ready.
Read More »Diverging from the Herd: Why Lenders Must Innovate Before it’s Too Late
Commentary is an ongoing series on theMReport.com that focuses on opinions, ideas, and insights from experts across mortgage banking. This article features Mark McElroy, president and CEO of Pavaso, Inc., advising lenders to be innovative in their business practices to serve today's consumers.
Read More »Credit Union Association Airs Grievances With the CFPB’s Complaint Database
The latest organization to air a grievance about the CFPB's Consumer Complaint Database is the National Association of Federal Credit Unions, which wrote a letter to the Bureau saying that the Database "continues to have practical implications that undermine the complaint resolution process."
Read More »FDIC Examines Changes in Reverse-Mortgage Regulations
Recent updates to reverse mortgage rules places borrowers' well-being first and helps with unanticipated issues, according to the Federal Deposit Insurance Corporation's Summer 2015 newsletter released Thursday.
Read More »Former CFPB Deputy Director Joins Eastern Bank
Boston-based Eastern Bank, a full-service commercial bank recently announced the appointment of Steven L. Antonakes as SVP and chief compliance officer. He will report directly to Barbara Heinemann, EVP of Eastern Bank’s Enterprise Risk Management division.
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