Category: CFPB

No More Closing Disclosure Delays! Hooray! The “Black Hole” (4-Day Rule) for mortgage closings has been corrected by the CFPB. Lenders will now be allowed to adjust the borrower’s final closing disclosure prior to closing.

RELATED ARTICLE TITLE: CFPB – Consumer Financial Protection Bureau Releases Final TILA-RESPA Rule – Dated April 26, 2018 – Effective June 1, 2018 By: Lloyd Rutherford, Staff Writer Lenders and consumers have struggled hard with the 4-day waiting period required for the closing disclosure.  Read through this update to find out what is changing and how […]

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CFPB-CFPB Updates Examination Manual-Effective March 2018

By: Tammy Butler, Master CMB The CFPB updated their 1585 page exam manual effective March of 2018.  All compliance professionals should use this as their “how to do business and stay in business” guide.  If you are in compliance or just interested in what the examiners review be sure to read this article and download the […]

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CFPB Semi-Annual Update-Dated April 2018

By: Tammy Butler, Master CMB Two times per year, the CFPB issues a report to the President and Congress.  The updates are very telling as to the temperament and the direction of the CFPB.  This summary of the 56-page report is a good way to gauge the regulatory environment. Rule Synopsis: The CFPB had a […]

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CFPB – CFPB Requests Opinions on Multiple Topics

By: Tammy Butler, Master CMB Now is your chance to make your opinion known on many issues regarding the direction of the CFPB and their practices.  With the change of leadership at the CFPB, the acting director is shaking things up by soliciting the industry for their opinions on multiple topics.  Just like voting, if […]

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CFPB Updates Extends Comment Periods for CID’s-Enforcement Processes-Adjudication Proceedings

By: Tammy Butler, Master CMB The CFPB is giving all of us more time to comment on how they should regulate the financial services community.  Be sure to check out the extensions as anyone is permitted to issue a comment. Rule Synopsis: With the change of Directorship at the CFPB, Mick Mulvaney is reviewing CFPB […]

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