Thu, Nov 21 2013, 10:30 AM
CFPB announced its first enforcement action against a payday lender , with $14 million in reimbursements and a $5 million penalty .
33 bus...
Wed, Nov 20 2013, 9:18 AM
Flagstar Bank has spread the word that Flagstar is adding an option for “ VA IRRRL Other Servicer ”
to use AVM rather than an appraisal up to 100% L...
Thu, Nov 14 2013, 10:14 AM
Research shows that in seven years, "Gen Y" consumers will represent 40% of the US workforce. Are you ready for them? Are they ready to move out of th...
Wed, Nov 13 2013, 9:52 AM
Aside from not having to wear ties on Fridays, or even collared
shirts for that matter, the boys and girls over at Barclays have
released their 3 ...
Tue, Nov 12 2013, 10:21 AM
Generally speaking, home values are going up, and we receive plenty
of statistics every month slicing and dicing sales and values. The
latest is f...
Fri, Nov 8 2013, 3:46 PM
The Consumer Financial Protection Agency reminded
lenders today of the requirement, starting January 10 , to provide consumers
with a list of homeo...
Mon, Nov 4 2013, 9:36 AM
The industry is hoping for some good news from Nationstar Thursday at 9AM EST, which announced last week that its 3 rd quarter earnings and busines...
Tue, Oct 29 2013, 3:03 PM
It didn't attract a lot of notice at the time, but a speech last Wednesday
by Consumer Financial Protection Bureau (CFPB) Director Richard Cordray ap...
Tue, Oct 15 2013, 4:14 PM
The Consumer Financial Protection
Bureau (CFPB) released a bulletin today in response to requests for further
clarification on three servicing ...
Thu, Oct 10 2013, 10:09 AM
"Ladies, if your guy says that he is going to fix something, he means
it. There is no need to remind him every six months." Hopefully the
governme...
Tue, Oct 8 2013, 9:37 AM
"All of the talk about lenders 'loosening' their requirements for IRS
transcripts. Lenders should remember that just because an investor or
aggreg...
Mon, Sep 23 2013, 4:17 PM
A national law firm which frequently
analyzes actions either coming from or having an impact on the Consumer
Financial Protection Agency raised ques...
Mon, Sep 16 2013, 10:24 AM
On Friday the 13th the CFPB released the final amendments
to the Loan Officer Compensation, Servicing, QM and HOEPA Rules. The
official release ...
Fri, Sep 13 2013, 10:23 AM
After 36 years of space travel and months of heated debate among
scientists, NASA confirmed Thursday that Voyager 1 has indeed left our
solar syst...
Fri, Sep 13 2013, 3:42 PM
A second
set of amendments and clarifications to the Consumer Financial Protection
Bureau's (CFPB) January 2013 mortgage rules will be released this...
Thu, Sep 12 2013, 2:46 PM
The Director of the Consumer Financial
Protection Bureau (CFPB) finally got to present the Bureau's third Semi-Annual
Report to the House Financial...
Wed, Sep 11 2013, 5:21 PM
The credit crunch, the financial
collapse, and the ensuing deep recession will likely stand as the most
significant financial events of our generati...
Wed, Aug 28 2013, 10:53 AM
There are lots of training videos out there. But there aren't many 0%
down payment programs from the government - the USDA is about it. Here
is on...
Fri, Aug 23 2013, 4:16 PM
Many mortgage servicers are still doing
a poor job with record keeping , payment processing and other basic services a
report issued by the Consume...
Mon, Aug 19 2013, 10:07 AM
I am heading off to Indiana this morning, but still had time to catch
this OCC release about a company to cheat consumers who are trying to
rebuil...
Thu, Aug 15 2013, 4:16 PM
The Consumer Financial Protection
Bureau (CFPB) has released a set of exam procedures to assist
financial institutions and mortgage companies plan...
Mon, Aug 12 2013, 9:30 AM
Periodically I am asked, "Do you know how many LOs there are in the nation? "
And folks periodically write and ask, "How many lenders are there in ...
Tue, Aug 6 2013, 10:11 AM
"What is the difference between ' Secondary Marketing ' and ' Capital Markets '?
I keep hearing the two terms used interchangeably. Is the Secondary...
Thu, Aug 1 2013, 4:23 PM
The chairs of the House Financial
Services (FSC) and the Oversight and Government Reform Committees are
focusing on business relationships four fo...
Tue, Jul 30 2013, 9:45 AM
Uh oh, just as I head to New York, this comes up. When the new MIP rules
went into effect, disclosures needed to be updated. A very informal
pol...
Tue, Jul 30 2013, 4:09 PM
Fannie Mae and Freddie Mac told their
lenders today that they will soon provide a common industry data set for the Consumer
Financial Protection B...
Wed, Jul 24 2013, 10:20 AM
It is hard to drive by a corner without seeing a gas station or a
bank these days. That doesn't mean banks are all huge, especially here
in Colora...
Tue, Jul 23 2013, 3:38 PM
A Utah-based mortgage
company is being accused of paying its employees for steering
customers into higher priced mortgages. The Consumer Financia...
Fri, Jul 12 2013, 1:50 PM
"Rob, has the CFPB or the Federal Reserve put out anything on ARM loans?" You bet it has. It is a nice primer , with pretty colors, easy-to-read prin...
Thu, Jul 11 2013, 2:17 PM
Clarifications
and updates proposed by the Consumer Financial Protection Bureau
(CFPB) for the new Truth in Lending Act (TILA) and RESPA rules were
...
Mon, Jul 8 2013, 2:34 PM
The
Consumer Financial Protection Bureau's (CFPB's) Dodd-Frank
Mortgage Rules Readiness Guide is now available
to assist lending institutions e...
Fri, Jul 5 2013, 12:57 PM
On this half-staffed Friday, let's take a look at what is the CFPB is up to. Quite a bit, but one can start by digesting the 171 pages currently out...
Wed, Jul 3 2013, 10:58 AM
The Consumer
Financial Protection Bureau ( CFPB ) has issued a list of counties
determined to have been "rural" or "underserved" during 2012.
Th...
Tue, Jul 2 2013, 3:14 PM
Two insurance industry trade groups,
the American Insurance Association and the National Association
of Mutual Insurance Companies, whose members se...
Tue, Jun 25 2013, 12:43 PM
The Consumer Financial Protection
Bureau ( CFPB ) has issued another set of proposed clarifications and
revisions to the mortgage rules it release...
Wed, Jun 19 2013, 10:54 AM
Here in Colorado, all eyes are on the 500+ houses destroyed by the recent fires. FEMA
is also watching, as it is the damage caused by flooding in ...
Fri, Jun 14 2013, 12:06 PM
NAR has been invited to testify at an upcoming Congressional hearing about the Qualified Mortgage rule (QM) .
The House Financial Services Subcomm...
Thu, Jun 13 2013, 4:29 PM
The Consumer Financial Protection Bureau (CFPB) has
launched a new web page which consolidates all of the new mortgages rules
issued this year and t...
Mon, Jun 10 2013, 10:16 AM
I am in Atlanta for a couple days, visiting with the Atlanta Mortgage
Bankers Association. Some of the conversations involve the $76 million
that ...
Fri, Jun 7 2013, 11:49 AM
Yes, mortgage rates are higher than where they were a month ago. We aren't in an " ARM market " quite yet although intermediate ARMs
are seeing some...
Tue, Jun 4 2013, 1:50 PM
The Consumer
Financial Protection Bureau is giving financial and mortgage
companies a heads-up about what examiners will be looking for under
new...
Fri, May 31 2013, 4:57 PM
The massive public database of consumer
complaint information which the Consumer Financial Protection Bureau
(CFPB) brought on-line in March has now...
Fri, May 31 2013, 2:14 PM
"The guy next door" as well as multi-billion dollar venture capital
funds know that, right? Well, the housing industry is hoping that
venture capi...
Thu, May 30 2013, 10:50 AM
The Federal Housing Finance Agency (FHFA) published an interim final rule in the Federal Register recently which mean that the long drawn-out saga...
Wed, May 29 2013, 3:17 PM
The
Consumer Financial Protection Agency has, as it promised earlier,
released changes to the Ability-to-Repay rule due to go into effect
in Janu...
Wed, May 22 2013, 3:11 PM
Members of a
House Financial Services subcommittee issued a press release Tuesday afternoon
which essentially dismissed testimony heard earlier in...
Fri, May 17 2013, 2:26 PM
A Texas homebuilder will surrender more than $100,000 to the Consumer Finance Protection Agency under a consent order filed on Friday. Paul Taylo...
Fri, May 17 2013, 1:54 PM
The Consumer Finance Protection Agency (CFPB) reminded lenders today that new Truth in Lending Act (TILA) rules banning mandatory arbitration provis...
Wed, May 15 2013, 3:07 PM
Under Dodd-Frank, the Consumer Finance Protection Bureau
( CFPB ) was required to issue several mortgage rules , ostensibly intended to 'protect
co...
Mon, May 13 2013, 10:16 AM
It is a time to celebrate those 65 and older through ceremonies, events and public recognition - in which most of which the folks in this group have n...
