Tag: Dodd-Frank

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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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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CFBP – ATR and QM Thresholds Updated – Dated July 17, 2020

Written by: Lloyd Rutherford, Staff Writer Understanding what triggers a high-cost mortgage is important to anyone in the origination side of this business.  This article reviews the latest update for these thresholds. 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 […]

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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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