Mon, Jun 29 2020, 1:38 PM
The Supreme Court, in a 5-4 decision along partisan lines, took a chunk out of the intentions the Dodd-Frank Act had for the Consumer Financial Protec...
Tue, Jun 23 2020, 10:21 AM
With its so-called GSE Patch set to expire on January 10, 2021 (unless by some miracle the conservatorship of Fannie Mae and Freddie Mac (the GSEs) en...
Tue, Jun 23 2020, 9:15 AM
There are all kinds of things that I don’t, or didn’t, know. For example, the other day I learned that when dogs lap water, they’re actually scooping ...
Wed, Jun 17 2020, 4:36 PM
There has apparently been considerable confusion regarding servicer obligations to report to credit agencies regarding loans in forbearance. The origi...
Wed, Jun 17 2020, 8:52 AM
Yesterday afternoon I was doing my quarterly ten minutes of YouTube yoga (“Align those internal organs! “The journey is the reward!”) and my mind wand...
Fri, Jun 5 2020, 2:47 PM
A joint release from the Consumer Financial Protection Bureau (CFPB) and the Conference of State Bank Supervisors cautions mortgage servicers about th...
Thu, Mar 26 2020, 12:50 PM
Flexibility seems to be the keyword as government agencies try to adjust to a lot of new realities. The Federal Housing Finance agency has already emp...
Fri, Apr 17 2020, 9:10 AM
While in captivity, watching the time, and waiting for release , can seem like forever. We’re always waiting for something, whether it is the CFPB rol...
Wed, Apr 15 2020, 1:15 PM
The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) have made arrangements to share information during the C...
Thu, Feb 27 2020, 8:57 AM
I was telling my cat Myrtle that U.S. lenders are continuing to bask in the glow of a great 2019 and a start to 2020 (with March and April now looking...
Tue, Nov 26 2019, 8:54 AM
“Rob, with the announcement a while back that Quicken Loans inked a mortgage deal with Charles Schwab, and now with Schwab buying TD Ameritrade, do yo...
Mon, Nov 18 2019, 10:12 AM
The Consumer Financial Protection Bureau (CFPB) has issued an Interpretive Rule for one type of loan originator licensing. The Secure and Fair Enforce...
Tue, Oct 22 2019, 4:37 PM
The Supreme Court has agreed to hear a case challenging the constitutionality of the Consumer Financial Protection Bureau (CFPB). The case "Seila Law ...
Mon, Aug 5 2019, 8:39 AM
Blame mental health. Blame gun control. Blame “the system” or background check procedures. There’s plenty of blame to go around when it comes to the t...
Fri, Jul 26 2019, 11:44 AM
The Consumer Financial Protection Bureau (CFPB) has issued an Advance Notice of Proposed Rulemaking (ANPR) regarding the expiration of the so-called G...
Thu, Jun 6 2019, 10:31 AM
Here on the 75th anniversary of D-Day, recall that, “Those who cannot remember the past are condemned to repeat it.” One could easily follow that with...
Tue, May 28 2019, 9:28 AM
First off, best wishes to Quicken Loans’ owner Dan Gilbert who was hospitalized Sunday after experiencing stroke-like symptoms. As the lending industr...
Thu, May 23 2019, 8:16 AM
The Urban Institute (UI) is urging the Consumer Financial Protection Bureau (CFPB) to rethink its plans for Home Mortgage Disclosure Act (HMDA) report...
Mon, Apr 29 2019, 9:08 AM
When I was a kid in California, as with my parents and their parents, and their parents, flowers and fruits had seasons. Roses bloomed in the spring. ...
Fri, Jan 11 2019, 1:42 PM
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) contains a requirement that the Consumer Financial Protection Bureau (C...
Mon, Jul 9 2018, 8:52 AM
As a loan officer, how would you like the borrower’s first contact to be with your CEO or head of mortgage? A Wells borrower is greeted by Michael DeV...
Tue, Jun 19 2018, 11:27 AM
The White House announced on Monday the nomination of Kathy Kraninger as head of the Consumer Financial Protection Bureau (CFPB) to replace acting dir...
Fri, Apr 27 2018, 11:10 AM
The Consumer Financial Protection Bureau (CFPB) has announced a technical change to its October 2015 "Know Before You Owe" mortgage disclosure rule. T...
Tue, Apr 3 2018, 1:01 PM
The Acting Director of the Consumer Financial Protection Bureau (CFPB) presented the Bureaus semi-annual report to Congress on Monday. The report, whi...
Thu, Feb 1 2018, 10:52 AM
There was a partial win for the plaintiff in there somewhere, but the District of Columbia Circuit Court of Appeals reversed its earlier decision on W...
Thu, Feb 1 2018, 9:14 AM
Whale oil manufacturers… switchboard operators… real estate agents? “Knock does everything a traditional real estate agent does and so much more.” Lau...
Thu, Jan 25 2018, 9:13 AM
Yes, rates have gone up, but residential applications have been up for three straight weeks. There is little denying that employment, housing, and the...
Fri, Dec 22 2017, 9:16 AM
What's age got to do with anything? In the new issue of STRATMOR Group's Insights report, Sr. Partner Jim Cameron debunks several of myths many lender...
Mon, Nov 27 2017, 9:10 AM
The darkest, blackest material known to man? Vantablack . Don't be the last to paint your car with it. Speaking of looking into voids, who is in charg...
Mon, Nov 20 2017, 9:14 AM
Thanksgiving week already! Let’s temporarily shift from residential lending to economics. According to the SalaryforPilot website, Air Force pilots ea...
Thu, Nov 16 2017, 9:50 AM
Richard Cordray, first Director of the Consumer Financial Protection Bureau (CFPB), will leave the agency at the end of the month. Cordray announced h...
Tue, Oct 31 2017, 9:23 AM
A new tool to measure the nation's largest consumer credit market came on-line this week. The new Mortgage Performance Trends tool, launched by the Co...
Fri, Sep 15 2017, 11:11 AM
The Consumer Financial Protection Agency (CFPB) does not provide guidance to the financial institutions it regulates. Instead it has evolved into a re...
Fri, Aug 25 2017, 10:54 AM
In July, the Consumer Financial Protection Bureau (CFPB) said it was rethinking implementation of its rules changing reporting requirements for the Ho...
Fri, Aug 25 2017, 10:51 AM
My boss arrived at work in a brand-new Lamborghini. I said, "Wow, that's an amazing car!” He replied, "If you work hard, put all your hours in, and st...
Mon, Jul 24 2017, 9:10 AM
What should lenders and loan officers be concerned about? What’s threatening their livelihood, besides all cash buyers, venture capital firms buying h...
Fri, Jul 14 2017, 3:47 PM
Community banks and credit unions may soon be subject to new guidelines that will require them to report information on home equity lines of credit, d...
Wed, Jul 12 2017, 9:28 AM
Millions of parents around the nation will be sending their ex-high school seniors off to college this autumn. And what better thing to teach them is ...
Fri, Jul 7 2017, 3:33 PM
The Consumer Financial Protection Bureau (CFPB) has announced final updates to it "Know Before You Owe" mortgage disclosure rule which went into effec...
Thu, May 25 2017, 9:50 AM
Montana may have its issues with politicians vying for the WWE title belt, but the state does seem to steer clear of cyberattacks. At least, it does i...
Tue, May 9 2017, 10:12 AM
The Consumer Financial Protection Bureau is revisiting its 2013 RESPA Mortgage Servicing Rule. The rule, after several amendments, took effect on Janu...
Mon, Apr 24 2017, 9:55 AM
Nature always bats last. Just ask singer Paul Simon who is moving his New York cottage away from the eroding ocean. Thinking about things like "oceans...
Tue, Apr 18 2017, 9:36 AM
There are plenty of companies out there, banks and non-banks, trying to raise money. Since lots of folks like lists, let’s start Tuesday with the top ...
Mon, Apr 17 2017, 3:42 PM
The Consumer Financial Protection Bureau (CFPB) has inviting comment periods on changes to its Home Mortgage Disclosure Act (HMDA) reporting rule. CFP...
Fri, Apr 7 2017, 9:55 AM
If you think mortgage regulations are running amok, as part of the Affordable Care Act, restaurants with 20 or more locations will soon have to post s...
Mon, Apr 3 2017, 9:33 AM
Welcome to Q2! I am attending the NYMBA conference for a few days, but 1,300 miles south, in Florida (aka "God's waiting room"), folks are talking "re...
Fri, Mar 24 2017, 10:22 AM
In legal news, Experian , one of the nation's three major credit reporting bureaus, misled consumers by telling them that the credit scores they purch...
Thu, Mar 23 2017, 10:15 AM
The House Financial Services Committee (FSC) held a hearing on Tuesday into the constitutionality of the structure of the Consumer Financial Protectio...
Wed, Mar 22 2017, 5:36 PM
“Dance like no one is watching. E-mail like one day it may be read aloud in a deposition.” Here's some pithier legal news. The Department of Justice i...
Mon, Mar 20 2017, 2:39 PM
The House Financial Services Committee has scheduled a hearing on March 21 titled "The Bureau of Consumer Financial Protection's (CFPB's) Unconstituti...
