CFPB Proposes ‘Substantive’ Changes to its Mortgage Servicing Rule July 21, 2017 Thomas Ressler The good news for the industry here is that the CFPB is, once again, responding to the concerns of market participants…Read More
CFPB Issues Proposal to Address the TRID ‘Black Hole’ July 19, 2017 Thomas Ressler Currently, lenders are permitted, under certain limited circumstances, to use revised estimates…Read More
CFPB Suffers Another RESPA Blow; A Victory for Affiliated Business Arrangements? July 18, 2017 Thomas Ressler It’s unclear whether the CFPB will appeal the decision. Bureau officials declined to comment.Read More
Most Mortgage Gripes Plunge – Except for Loan Servicing July 18, 2017 Thomas Ressler Specialty servicers Ocwen and Ditech Financial ranked third and fifth, respectively, in mortgage complaints during the first six months of 2017, according to Inside the CFPB.Read More
CFPB Cuts ‘Smallish’ Lenders Some HMDA Slack (Temporarily) July 17, 2017 Thomas Ressler Under the proposal, the CFPB would increase that threshold to 500 loans through calendar years 2018 and 2019… Read More
CFPB Servicing Rules Stabilized Market, but Unintended Consequences Too July 13, 2017 Thomas Ressler One negative effect: the costs required to service both performing and nonperforming loans have increased substantially.Read More
CFPB Issues Final Rule to Ban Mandatory Arbitration in Consumer Financial Contracts July 11, 2017 Thomas Ressler However, Congress has already prohibited arbitration agreements in the largest market the agency oversees: residential mortgages.Read More
CSBS Calls for Community Bank Relief from HMDA Requirements July 5, 2017 Thomas Ressler In 2018, the number of data points required to comply with HMDA reporting standards is set to double…Read More
CFPB Decides to Cut Mortgage Servicers Some Slack for Three Days June 28, 2017 Thomas Ressler The Bureau says it understands the industry’s concerns…Read More
Cordray Gone By Year End? Who Will Replace Him? June 27, 2017 Thomas Ressler If Trump names a top GOP lawmaker to head the CFPB it would leave open another House or Senate seat…Read More