"Our goal, however, is not some one-sided aim to maximize consumer protection or industry deterrence at all costs. There is such a thing as doing too little, and there is such a thing as doing too much," Steven Antonakes, deputy director of the Consumer Financial Protection Bureau.
2014 brought on a wave of new regulation from the Consumer Financial Protection Bureau, but lenders are not empty handed. The CFPB continues to pump out online tools to help everyone understand everything.
This time around, Steven Antonakes, deputy director of the Consumer Financial Protection Bureau, significantly watered down his message at Nevada’s Common Ground Conference, especially when compared to his alarming speech at the Mortgage Bankers Association’s National Mortgage Servicing Conference.
The good cop officially left the room when Steven Antonakes, deputy director of the Consumer Financial Protection Bureau, stepped up to the podium: "Business as usual has ended in mortgage servicing," he said.
“Nearly every part of the real estate process has been transformed by technology except for home financing. Getting a mortgage is still manual, frustrating and confusing,” said Nick Stamos, CEO and founder of Sindeo..
Legacy insurers are headed toward solid ground, with some experiencing their first full year of profitability since the housing crash. New entrants, meanwhile, are raising capital, entering the fray and gaining market share. Read More
First, I’m not suggesting totally yanking FICO or Vantage Scores or anything like that. What I am recommending is the adoption of other models that would equally, or even more effectively, determine who can repay a loan. Read More