Category: CFPB

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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CFBP Issues Final Rule Extending GSE Patch – Dated October 20, 2020

Written by: Lloyd Rutherford, Staff Writer There is a lot of market speculation as to what is going to happen to the QM [Qualified Mortgage] patch that was set to expire next year.  Read this update to get the details about how the CFPB is handling this issue with the industry. Rule Synopsis: On October […]

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CFPB – 7 Administrative Proceedings and Consent Orders for Deceptive Loan Advertisements – NEW MTP™- Deceptive Advertising – Is It Too Good to Be True?

Written by: Lloyd Rutherford, Staff Writer In today’s world, every bit of advertising that you do is documented and retrievable.  Recently there has been a rash of consent orders from the CFPB over false advertising practices.  Read this article to learn what you need to avoid. Rule Synopsis: The CFPB completed an audit of a […]

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You Can’t Believe Everything You Read on the Internet! Most of us know this to be true, yet recently, a lot of lenders got into trouble with Federal Regulators over false advertising practices.  Comment below and I’ll send you a quick fact sheet about what to watch out for when shopping for a home loan. 

Related Article Title: CFPB – 7 Administrative Proceedings and Consent Orders for Deceptive Loan Advertisements – NEW MTP™- Deceptive Advertising – Is It Too Good to Be True? Written by: Lloyd Rutherford, Staff Writer In today’s world, every bit of advertising that you do is documented and retrievable.  Recently there has been a rash of […]

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