Lawyer and published author, Rubin is currently taking time off to focus on writing. Formerly Senior Counsel and Chief Advisor, Regulatory Policy, on the staff of the House Financial Services Committee; Partner at Hunton & Williams; Enforcement Attorney at the Consumer Financial Protection Bureau; Senior Special Counsel at the US Securities and Exchange Commission; Managing Director at investment bank; and criminal prosecutor.
Our hugely popular blogpost titled: "Former CFPB attorney pretty much just confirmed the worst fears of the mortgage industry," hit a nerve with many in the mortgage industry. Now the author of the original piece adds his thoughts to our thoughts. Read more on the ongoing discussion right here.
While other state and federal regulatory bodies overlap in their regulation of the mortgage industry, the very particular consumer focus of the CFPB is not duplicated by any other body. Will deregulation mean a return to the Wild West lending atmosphere that led to the financial crisis? What happens next? We asked John Socknat, partner at Ballard Spahr, to weigh in on what mortgage lenders and servicers can expect from a Trump administration.
Amid the potential new direction from the White House, Congress and regulators, leadership in our industry is more important than ever. Which is why HousingWire is proud to present the 40 winners of our 2016 Vanguard award. These leaders from all segments of the mortgage ecosphere demonstrate that our industry is more than capable of meeting the challenges that lie ahead.
The marketplace is full of hard and private money lenders — it will come down to who can best assist investors in completing their goals, whether that be by providing quicker close times, or with more accurate valuations. With how many options there are for borrowers, lenders will need to start competing for marketshare as borrowers shop their situations to multiple lenders, leveraging the offers against each other. This process will force lenders to update their guidelines, or be forced out of the market.