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Articles about CFPB


Residential | August 2019 
Scrutiny is Overdue on Mortgage Licensing
Eleven years ago, Congress passed the Secure and Fair Enforcement for Mortgage Licensing Act, popularly known as the SAFE Act. Adopted in the wake of concerns about some mortgage loan originators stee...
By David A. Wind, board member, Community Home Lenders Association (CHLA)

Residential | January 2019 
Probe the Borrower’s Reason for Seeking a Loan
Private money lenders predominately originate what are commonly referred to as business-purpose loans, usually secured by the value of a parcel of real estate. There’s another type of loan out there. ...
By Jack Suddarth, president and founder, Equity Wave Lending Inc; and Jason E. Goldstein, Esq., attorney and shareholder, Buchalter APC

Residential | December 2018 
Viewpoint: Mortgage Companies Seek a Level Playing Field
All mortgage companies, including nonbank lenders, are looking for ways to survive in this margin-compressed, compliance-heavy market. Ideas are flowing as to how to cut costs, optimize operations, in...
By Ed F. Wallace Jr., executive director, The Community Mortgage Lenders of America (CMLA)

Residential | November 2018 
Don't Lose Your Cool When You Get Audited
You’re going to be audited. Those five words will make the hair on the back of any mortgage originator’s neck stand up. Originators know they can be audited at any time and have come to expect...
By Phil Mastin, assistant vice president and director of regulatory affairs, United Wholesale Mortgage; and Jeff Midbo, senior vice president and chief compliance officer/deputy general counsel, United Wholesale Mortgage

Residential | February 2017 
Fixing TRID's Catch-22 Rules
It’s been more than a year since the effective date of the TRID consumer-disclosure rules, and a lingering fear of violating its requirements still remains for many mortgage professionals. ...
By Holly Spencer Bunting, partner, Mayer Brown

Residential | January 2017 
New Day Coming for MSAs
The Consumer Financial Protection Bureau (CFPB) recently had its wings clipped. The setback for the regulator was the result of a ruling by the U.S. Court of Appeals for the District of Columbia in ...
By Stanley M. Gordon, managing member, Gordon & Associates

Residential | December 2016 
Where Do We Go From Here?
The mortgage industry has seen more than its fair share of changes in the past few years, but owning a home still remains the American Dream by most accounts. In fact, the regulatory changes the indus...
By Brian Rogerson, senior vice president of production, Wallick & Volk

Residential | December 2016 
Managing Property Appraisers
Whether you’re a mortgage originator, investment banker, lawyer, mortgage servicer or mortgage insurer, you have no doubt felt the pressure of substantial regulation when working with appraisers and a...
By George K. Demopulos, president and chief valuations officer, Lincoln Appraisal and Settlement Services

Residential | November 2016 
Creating a Clear Reflection
Transparency, clarity and accuracy are important aspects of mortgage lending. Likewise, they are equally essential when it comes to the online-complaint process. Imagine a cluttered, dark room with a ...
By Stephanie Ziebell, vice president and corporate counsel, Waterstone Mortgage Corp

Residential | November 2016 
Nightmare Scenario for Compliance
Imagine a world where mortgage originators are constantly issuing second or third Closing Disclosures (CDs) to borrowers because of fee adjustments, with each fee change triggering TRID rules requirin...
By Janice Minchenberg, director of implementation management, Digital Risk

Residential | September 2016 
Reduce the Onslaught
Every year the Consumer Financial Protection Bureau (CFPB) publishes the Consumer Response Annual Report, which summarizes complaints generated through the CFPB Consumer Complaint Database. The 2015 r...
By Alan Bercovitz, founder, Guaranteed Mortgage Quote

Residential | September 2016 
Prepare for HMDA Waves
Although it has been nearly a year since the Consumer Financial Protection Bureau (CFPB) issued the final rule spelling out the expanded reporting requirements under the decades-old Home Mortgage Disc...
By Anthony M. Sharett, partner, BakerHostetler; and Bob Niemi, senior adviser, BakerHostetler

Residential | August 2016 
The Devil is in the Details
The Consumer Financial Protection Bureau (CFPB) gave notice in an April 2012 bulletin that they would hold mortgage lenders accountable for the actions of their service providers. This cast a large sh...
By Angela M. Murin, president, Commonwealth USA Settlements LLC; and Shanon M. Lake-Catello, chief technology officer, Commonwealth USA Settlements LLC

Residential | August 2016 
New HMDA Rules Expand Data-Reporting Mandates
This past October the Consumer Financial Protection Bureau (CFPB) issued long-awaited final rules that completely revise the requirements of the Home Mortgage Disclosure Act (HMDA). Naturally, major r...
By Leonard Ryan, president and founder, QuestSoft Corp.

Residential | August 2016 
Heading Toward Another Fall?
It’s a safe bet that the vast majority of mortgage-industry professionals have seen the Academy Award-winning film “The Big Short,” which is based on the bestselling book by Michael Lewis. The core of...
By Richard E. Cox, CEO and founder, American Seller Financing LLC


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