Bitcoin and other cryptocurrencies are hard to predict, but that hasn’t prevented many Americans from investing in them or even using the new currencies to make major real estate purchases.
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Bitcoin and other cryptocurrencies are hard to predict, but that hasn’t prevented many Americans from investing in them or even using the new currencies to make major real estate purchases.
Read MoreTopics: Lenders, Mortgage Companies, Compliance, CFPB, Credit Union
The Bureau of Consumer Financial Protection (BCFP) recently issued a statement that contains guidelines on the partial exemptions for small banks and credit unions under the Home Mortgage Disclosure Act (HDMA) rules of the amended Dodd-Frank Act.
Read MoreTopics: Lenders, Mortgage Companies, Compliance, residential mortgage industry, Regulations, Dodd-Frank Act, CFPB, Credit Union
The CFPB recently finalized an amendment to its “Know Before You Owe” mortgage disclosure rule—commonly known as TRID—which originally took effect in October of 2015. According to the Bureau, its amendment addresses when a mortgage lender with a valid justification can pass increased closing costs on to a consumer and disclose these costs on a Closing Disclosure.
Read MoreTopics: Lenders, Mortgage Companies, Compliance, Regulations, CFPB, Credit Union
During his recent presentation of the CFPB’s semi-annual report to Congress, Acting Director Mick Mulvaney included a memo of suggested changes that he feels should be made to the federal agency. If adopted, these changes would fundamentally alter the CFPB’s mandate and structure.
Read MoreTopics: Lenders, Mortgage Companies, Compliance, Regulations, Dodd-Frank Act, proposals, CFPB, Credit Union
The U.S. House of Representatives recently passed the Mortgage Choice Act of 2017, which now heads to the Senate for consideration. If passed and signed into law, this new legislation would adjust TILA’s definitions of points and fees that are found under the Ability to Repay/Qualified Mortgage rule.
Read MoreTopics: Lenders, Mortgage Companies, Compliance, residential mortgage industry, Regulations, CFPB, Credit Union
Mortgage News Daily recently reported that the House Financial Services Committee is considering several bills that could potentially impact lenders. According to the article, the following measures were discussed during two hearings early this month:
Read MoreTopics: Lenders, Mortgage Companies, Compliance, Regulations, proposals, CFPB, Credit Union
Even in our digital age, there are still some borrowers that wish to receive a hard-copy of their appraisal documents versus a soft-copy through email. Having your staff spend time on this non-revenue producing activity, however, can be expensive and extremely disruptive.
Read MoreTopics: Lenders, appraisal technology, collateral management, eTrac Enterprise Solutions, AMCs, Mortgage Companies, Global DMS, Compliance, Appraisal Process Management, CFPB, Credit Union
The CFPB recently announced that it has launched the new Mortgage Performance Trends tool, which tracks mortgage delinquency rates nationwide.
Read MoreTopics: Lenders, Mortgage Companies, technology, mortgage software, CFPB, Credit Union
As reported by DS News and The MReport, several regulatory relief bills—which are designed to alleviate regulatory burdens in the mortgage industry—recently passed the House Financial Services Committee and will now head to the House floor for consideration.
Read MoreTopics: Lenders, Mortgage Companies, Compliance, Regulations, CFPB, Credit Union
Have you ever had difficulty interpreting the slew of guidance and regulations that have been implemented by the Consumer Financial Protection Bureau (CFPB)? If so, you’re not alone.
Read MoreTopics: servicers, Lenders, AMCs, Mortgage Companies, Compliance, Regulations, CFPB, Credit Union
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