Tag: CFPB

CFPB FAQ for TILA-RESPA Disclosures (TRID) – Dated February 26, 2020

Written by: Lloyd Rutherford, Staff Writer The rules of disclosure can be very tricky.  This recent update of FAQs addresses some of the issues lenders have struggled with and is a must read for anyone originating or creating disclosures. Rule Synopsis: The Consumer Financial Protection Bureau issues an FAQ document for the industry that covers […]

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CFPB Announces Policy Regarding Prohibition on Abusive Acts or Practices – Dated January 24, 2020

Written by: Lloyd Rutherford, Staff Writer There has been a lot of uncertainty as to what practices were considered “abusive” to consumers.  This update outlines the changes that have been made by the CFPB to help the industry consider their practices in business and marketing. Rule Synopsis: The CFPB (by way of this policy statement) […]

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CFPB Announces Threshold Amounts for Smaller Loan Exemption for HPML Appraisal Requirements – Dated October 30, 2019

Written by: Lloyd Rutherford, Staff Writer Rule Synopsis: 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 […]

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CFPB Releases FAQ for the SAFE Act addressing Licensing FAQs – Dated September 25, 2019

Written by: Lloyd Rutherford, Staff Writer Loan originators and compliance professionals, this is an important update and clarification on questions regarding licensing. Rule Synopsis: The Consumer Financial Protection Bureau issued an FAQ document for Originators that covers categories of originators, exercising temporary authority, guidance on state transitional license availability and whether there is an impact […]

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CFPB-TRID-RESPA FAQs Update – Loan Estimates

Written By: Tammy Butler, Master CMB The CFPB continues to clarify industry questions from lenders regarding TRID disclosures and RESPA requirements. In this update the bureau addresses frequently asked questions on Loan Estimates. Rule Synopsis: Periodically, the CFPB issues clarifications to the very complex TRID-RESPA rules. They communicate these clarifications through the TRID-RESPA FAQs, which […]

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