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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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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Written by: Lloyd Rutherford, Staff Writer No matter how long you have been in the industry, the COVID-19 Pandemic is a first for all of us including the CFPB. To offer consumers relief, the CFPB has added guidance to allow lenders some flexibility during this time. All originators should read through these changes so that […]
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Written By: Tammy Butler, Master CMB Annual Thresholds for Qualified Mortgages have been issued by the CFPB. Rule Synopsis: The Bureau is required to calculate annually the dollar amounts for several provisions in Regulation Z; this final rule reviews the dollar amounts for provisions implementing TILA and amendments to TILA, including the Home Ownership and […]
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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 construction loans. Rule Synopsis: Periodically, the CFPB issues clarifications to the very complex TRID-RESPA rules. They communicate these clarifications through the TRID-RESPA FAQs, which we have attached below […]
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