Tue, Jul 6 2021, 11:08 AM
Dang it is becoming more and more expensive to follow all the rules and regulations to originate residential loans. These costs, of course, are borne ...
Tue, Jun 29 2021, 1:17 PM
The government stakeholders involved in the various pandemic related forbearance programs appear to be directing their full attention to their upcomin...
Wed, May 5 2021, 10:52 AM
The Consumer Financial Protection Bureau (CFPB) says the overall mortgage related complaints it has received recently are at their highest level in th...
Fri, Apr 30 2021, 10:19 AM
How are we 1/3 done with 2021 already? Few are sitting on their hands as the months roll on. Exxon had its first profitable quarter since 2019. Fannie...
Wed, Apr 28 2021, 10:57 AM
Lenders will have more than an additional year to comply with the General Qualified Mortgage (QM) Rule . The Consumer Financial Protection Bureau (CFP...
Thu, Apr 22 2021, 10:25 AM
Not you, of course, but many other people in our biz are elderly. Sure you haven’t seen them in person in a year, but they’re there. Or they have elde...
Thu, Apr 1 2021, 10:45 AM
Worried about it being April Fool’s Day? Don’t be. We’ll take care of you. Today's podcast includes a discussion on extended locks, as well as an inte...
Fri, Mar 5 2021, 11:37 AM
The Consumer Financial Protection Bureau (CFPB) has proposed to delay the mandatory compliance date of the General Qualified Mortgage (QM) final rule ...
Mon, Feb 8 2021, 9:27 AM
A Pennsylvania man is suing Smart Water for not making him smart, and here, in this Commentary, I’d like to formally announce my lawsuit against Thin ...
Tue, Feb 2 2021, 11:18 AM
The Urban Institute (UI) has looked at a final mortgage rule issued by the Consumer Financial Protection Bureau (CFPB) in late 2020 which would provid...
Mon, Feb 1 2021, 11:01 AM
January’s already in the rearview mirror and our industry is keeping an eye on all kinds of things. Like silent movies moving into “the Talkies” in 19...
Tue, Jan 19 2021, 11:03 AM
Sometimes running a mortgage compliance department can seem like this short clip Indiana’s Carol K. sent along. Yet there is value in compliance, and ...
Thu, Dec 31 2020, 11:03 AM
I still don’t know what I’m wearing to the living room on New Year’s Eve. Heck, I may not even go. Wouldn’t it be nice to be on a cruise? Ever heard o...
Wed, Oct 21 2020, 9:13 AM
Want some guidance? “If you get a loan at a bank, you’ll be paying it back for 30 years. If you rob a bank, you’ll be out in 10 years. Follow me for m...
Fri, Oct 9 2020, 8:51 AM
Eddie Van Halen advised, “You only have twelve notes. Do what you want with them.” Twelve is probably the number of undecided voters in the U.S. at th...
Fri, Sep 4 2020, 9:34 AM
The Consumer Financial Protection Bureau (CFPB) has been on a two-month enforcement tear aimed at mortgage lenders employing deceptive practices in th...
Thu, Aug 20 2020, 9:06 AM
In these times that lenders describe as busy, profitable, and overheated, capital markets personnel are focused on margin & capacity management, staff...
Wed, Aug 19 2020, 9:58 AM
The Consumer Financial Protection Bureau (CFPB) is proposing a new category of qualified mortgage (QM) which it says is intended to "encourage innovat...
Thu, Jul 16 2020, 8:58 AM
I was on the phone yesterday with my psychic who told me, “You will live a long and healthy life if you abstain from anything that brings you joy.” Ok...
Mon, Jul 6 2020, 9:43 AM
The Consumer Financial Protection Bureau (Bureau) today issued a notice of proposed rulemaking (NPRM) that would amend Regulation Z of the Truth-in-Le...
Tue, Jun 30 2020, 8:50 AM
Some days you don’t learn much, other days you learn a lot (skip the ad). We’ve learned that COVID is driving our economy, not fundamental economic ne...
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...
