Latest CFPB Articles

This website requires Javascrip to run properly.

NEW CFPB Complaint Over Bonuses Linked to Loan Terms

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...

NEW CFPB ARM Primer; More on Month-End Closings; Chase and Wells Earnings

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...

NEW CFPB Finalizes April Clarifications and Changes

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 ...

NEW Dodd-Frank Mortgage Rules Readiness Guide -CFPB

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...

NEW CFPB Update; Investor Updates - Time to Sell Stock? Rates Rise on Unemployment Data

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...

NEW CFPB Publishes Updated "Rural" List

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...

NEW HUD Sued over Disparate Impact; Could Affect CFPB Authority

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...

NEW CFPB Opens Proposed Mortgage Rule Changes for Public Comment

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...

NEW Las Vegas and Eminent Domain; Dodd-Frank Update; HARP Date Petition; CFPB Reminders

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 ...

NEW NAR Testifies on QM; Ocwen Servicing Deal; CFPB Videos; Mergers; Top Ten Funding Defects

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...

NEW CFPB Consolidates New Mortgages Rules, Information, to a Single Web Page

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...

NEW Ex-CFPB Employees Getting Into Non-QM Lending; Correspondents & Reg. B

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 ...

NEW Genworth Job Cuts; Flood Insurance Across the Nation; Recent Disparate Impact Cases; CFPB Employees Unionize

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...

NEW CFPB Gives Mortgage Lenders Heads-up on Exam Procedures

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...

NEW CFPB Enhances Massive Consumer Complaint Database

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...

NEW Interpreting QM Revisions; CFPB on Originator Testing, FTC, and Underserved Counties

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...

NEW CFPB Delays One Rule and Tweaks 43% DTI, LO Comp - What Does it Mean?

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...

NEW CFPB Announces Changes to Ablity-to-Repay Rule

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...

NEW House Rejects CFPB Testimony on Qualified Mortgage Rule

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...

NEW Kickback Accusations Resolved by CFPB Consent Filing

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...

NEW CFPB Reminds Lenders of Changes to Mandatory Arbitration Provisions

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...

NEW CFPB Releases Video Series to Better Explain Mortgage Rules

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...

NEW More on FHA MI & HPML Concerns; CFPB Update on June 1 Change Date; Bank M&A's Continue

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...

NEW CFPB Having Second Thoughts About Restricting Credit Insurance Financing

Thu, May 9 2013, 11:30 AM

The Consumer Financial Protection Bureau (CFPB) is proposing to delay implementation of part of the Loan Originator Compensation Requirements it i...

NEW CFPB Publishes User Friendly Compliance Guides

Fri, May 3 2013, 10:58 AM

The Consumer Financial Protection Bureau (CFPB) has just published three compliance guides to help both lenders and consumers understand some of t...

NEW CFPB on Small Lenders and the Cost of Compliance; Does Hedging Mean Free Lock Renegotiations?

Wed, May 1 2013, 10:35 AM

CMC, along with several other companies, hedge pipelines, which reminds me of a note I recently received. "Rob, I work for a mid-size wholesale compan...

NEW HUD addresses LO/Realtor Combos; CFPB and FDIC can go after Employees and Consultants

Mon, Apr 29 2013, 11:15 AM

The demand for capital never goes away - it is matter of supply and demand setting the rate and price for certain types of loans. Putting political na...

NEW CFPB's Final Rule Changes; Navy Fed's 100% Program; Reg. Z's Appendix Q; Home Ownership Trends

Tue, Apr 23 2013, 11:02 AM

We were reminded that the CFPB's " Final Rules " aren't necessarily final when it issued proposed clarifications to rules dealing with servicer-held e...

NEW Cordray Is Not The Real CFPB Director According To Committee Chair

Tue, Apr 23 2013, 9:40 AM

Jeb Hensarling (R-TX), Chairman of the House Financial Services Committee announced yesterday that the committee would not be accepting testimony fr...

NEW CFPB Issues Additional Clarifications to Final Rules

Mon, Apr 22 2013, 1:34 PM

Last week the Consumer Financial Protection Bureau (CFPB) issued proposed clarifications to one of its 2013 Finals Rules , the one applying to servic...

NEW CFPB Recommends Regulation of "Senior Designations"

Thu, Apr 18 2013, 3:03 PM

The Consumer Finance Protection Agency ( CFPB ) has released a report highlighting problems with what it called " senior designation " credentials. ...

NEW CFPB Proposes Clarifying Changes to Final Escrow Rule

Tue, Apr 16 2013, 12:24 PM

The Consumer Financial Protection Bureau (CFPB) has released a set of clarifying and technical amendments to one of the several rules it released in...

NEW Transactions Covered by the CFPB; FHA and VA Pricing Jump Explained; More on Assumability of Loan Types

Tue, Apr 16 2013, 11:25 AM

Given current rates , and thus the rates at which millions of people are refinancing, the home lending industry has become keenly interested in wh...

NEW Some Astute Concerns About Disparate Pricing, Assumable Loans, and the CFPB Complaint Database

Fri, Apr 12 2013, 9:44 AM

Well, the rate lock renegotiation discussion continues, and here is one angle that I hadn't seen raised. "Lately we have been working/wrestling with...

NEW DE Underwriter Change? MI Company fines and their Responses; How Much can the CFPB Penalize and what does it do with the Money?

Fri, Apr 5 2013, 9:55 AM

Yesterday I was in Denver, speaking at the Colorado Mortgage Lenders Association, and, besides the increasing need for capital among lenders, the rumo...

NEW Four Largest Mortgage Insurers Tagged by CFPB in Illegal Kick-Back Scheme

Thu, Apr 4 2013, 1:40 PM

The four largest remaining private mortgage insurance (PMI) companies have agreed to end what the Consumer Financial Protection Bureau ( CFPB ) call...

NEW CFPB's New Financial Products Complaint Site Goes Live Today

Thu, Mar 28 2013, 1:18 PM

Starting today consumers will be able to track complaints about products and services levied by other consumers against some 450 financial services ...

NEW Republicans Attacking CFPB on Multiple Fronts

Tue, Mar 12 2013, 4:42 PM

Representative Jeb Hensarling (R-TX), Chairman of the House Financial Services Committee sent a letter to Federal Reserve Board Chairman Ben Bern...

NEW Cordray: CFPB Addressing Debt Traps, Dead Ends, and Discrimination.

Tue, Feb 26 2013, 2:34 PM

Richard Cordray , Director of the Consumer Financial Protection (CFPB) told the National Association of Attorneys General that, since he last spoke ...

NEW Letter on CFPB Exams; Good Site for Bank Research; Bank M&A Continues; Purchase Loans Cost More than Refis?!

Wed, Feb 20 2013, 11:31 AM

I am in Kansas today. Before the congratulatory e-mails flood in, I mention this because I flew here. (In an airplane.) Per our very own Transportatio...

NEW Potential Fallout of Cordray's CFPB Appointement being Invalidated

Mon, Feb 11 2013, 10:56 AM

This is the second of two installments ( part 1 ) summarizing a seminar given by Ballard Spahr, a national law firm, to explain the possible ramific...

NEW CFPB: Consumers must not be Collateral Damage in Servicing Transfers

Mon, Feb 11 2013, 2:23 PM

A recent spate of large loan servicing transfers has prompted the Consumer Financial Protection Bureau ( CFPB ) to issue a bulletin advising servi...

NEW NLRB Ruling Leaves a "Dark Cloud" Hanging Over CFPB

Fri, Feb 8 2013, 12:28 PM

Ballard Spahr , a national law firm conducted a web seminar this week to explain the possible ramifications of a recent Appeals Court ruling inv...

NEW CFPB on Speed Dial for Newark Residents

Thu, Feb 7 2013, 1:34 PM

The Consumer Financial Protection Bureau (CFPB) has teamed up with the City of Newark to provide an immediate and accessible conduit for consumer co...

NEW Senator Introduces CFPB Reform Bill to Replace Cordray with Five-Member Commission

Tue, Feb 5 2013, 9:59 AM

Senate Republicans have fired the first two shots in a renewed battle over the Consumer Financial Protection Bureau ( CFPB ). President Barack Obam...

NEW President Renominates Cordray as CFPB Director, Picks Former U.S. Attorney for SEC

Thu, Jan 24 2013, 2:26 PM

President Obama has named Mary Jo White to head the Securities and Exchange Commission (SEC) and reappointed Richard Cordray as Director of the Co...

NEW CFPB Releases Final Rule on Ability to Repay, Leaves Back Door Open on DTI

Thu, Jan 10 2013, 7:51 AM

The final rule to implement those parts of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act relating to consumers ability to repay h...

NEW QM Rules Released by CFPB this Week? Good News on Basel III; More Mortgage Jobs

Mon, Jan 7 2013, 10:25 AM

January is proving to be a newsy/volatile month for the industry. Last week we had the delay in truly resolving the fiscal cliff, the Fed minutes di...

NEW Where Would Rates go without the Fed?; CFPB's Reach is Far; MBA Addresses Volker Rule and Margins

Fri, Jan 4 2013, 10:28 AM

"Rob, I run compliance for a mid-size bank in Georgia, and our senior management told us that we don't have to worry about what the CFPB is doing. Do...

NEW House Committee Chairs Blast CFPB's "Virtually Limitless Power"

Thu, Jan 3 2013, 5:08 PM

Shortly before recessing for the holidays the Chairmen of the House Committee on Oversight and Government Reform and of its Subcommittee on TARP, Fin...