Category: CFPB

CFPB Takes Action Against Reverse Mortgage Lender for Deceptive Advertising – Date April 27, 2021

Written by: Lloyd Rutherford, Staff Writer Advertising your services can be extremely complex when you are governed by financial services regulations.  Read this article to learn more about the practices that landed this lender in hot water with the regulators and what you can do to prevent issues like this in your own business. Rule […]

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CFPB – Rescinds Abusiveness Policy Statement to Better Protect Consumers – Dated March 11, 2021

Written by: Lloyd Rutherford, Staff Writer The CFPB is gearing up in another area of compliance and that is UDAAP [Unfair, Deceptive, or Abusive Acts or Practices].  Read this article to find out what has been rescinded from the previous administration. Rule Synopsis: The CFPB is changing it up! This policy announcement rescinds a policy […]

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CFPB – Agency Clarifies that is it Illegal for Lenders to Discriminate based on Sexual Orientation and Gender Identity – Dated March 9, 2021

Written by: Lloyd Rutherford, Staff Writer The CFPB has made it clear that they are pursuing Fair Lending claims much more aggressively than before.  This clarification bulletin adds additional perspective for lenders to consider in their monitoring. Rule Synopsis: The CFPB issued an interpretive rule to remind lenders that discrimination by lenders based on sexual […]

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CFPB Files Lawsuit Against Mortgage Lender for Multiple Federal Regulation Violations

Written by: Tammy Butler, Publisher This is a must-read for any mortgage originator or mortgage lender.  With the administration changes, the compliance environment is going to get intense.  Many lenders believe that if they do not see compliance suits in the news, they do not happen.  The reality is that most of the cases are […]

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CFPB – Agency Announces Threshold for Smaller Loan Exemption from Appraisal Requirements for Higher Priced Mortgage Loans – Dated November 18, 2020

Written by: Lloyd Rutherford, Staff Writer The CFPB is required to calculate annually the dollar amounts for various topics contained in Regulation Z (aka The Federal Truth-in-Lending Act or TILA). This article will address the changes that impact the mortgage industry related to the appraisal requirements for HPML as it relates to smaller loans. Rule […]

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