Items Tagged with 'Consumer Financial Protection Bureau'

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Hillary Clinton reportedly adds former CFPB assistant director Rohit Chopra to transition team

Politico: Outspoken critic of student loan debt issue set to join Clinton's team
Hillary Clinton, the former Secretary of State and current Democratic nominee for president, is adding one of Sen. Elizabeth Warren’s close allies and a former executive at the Consumer Financial Protection Bureau to her transition team as she prepares for the coming election.
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Time to worry? Time to close a loan ticking back up

Or is this the new normal?
In the months immediately after the implementation of the Consumer Financial Protection Bureau's TILA-RESPA Integrated Disclosures rule, the time to close a mortgage loan rose as the industry worked through the new and complex process surrounding the dissemination of loan information to borrowers. Since then, closing times fell, but now they're on the way back up, which begs the question: Is this the start of a trend? Or is this just the new normal?
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MBA: The most important factor for lenders in the TRID proposed changes

Responds to CFPB open-comment period
Pending a complete government shift in housing regulation, the industry is left to implement the Consumer Financial Protection Bureau’s Know Before You Owe mortgage disclosure rule. As one of the biggest voices in the industry, the Mortgage Bankers Association added to the discussion on the importance of the comment period that is now open for the CFPB’s proposed updates to the rule.
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CFPB: TRID comment period now open

Two months to go
The 64-day countdown begins now on the comment period for proposed updates to the Consumer Financial Protection Bureau’s Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule. And there are plenty of areas to weigh in on.
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Hillary Clinton on CFPB: Why would you get rid of that?

Gives speech on her economic plan
In the same week and same state as Donald Trump, Hillary Clinton also revealed her economic plan. Included in her speech, she talked about bringing tax relief to small businesses and expanding regulation. Most notably, she questioned why anyone would want to disband the CFPB. Of course, she also made time to throw in a few jabs at Trump.
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Initial thoughts: Did the CFPB successfully update TRID?

Three TRID experts weigh in
The Consumer Financial Protection Bureau’s new proposal to update its Know Before You Owe rule came out barely even a week ago. Coming in at a whopping 293 pages, there is a lot of information that everyone is working through. Now that the new proposal is out, HousingWire followed up with three expert TRID attorneys to get their initial read on the rule.
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CFPB publishes 900-page final rule on mortgage servicing

NAFCU pushes back against new rule's "unintended consequences"
In a wide-ranging final rule for mortgage servicers, the CFPB has expanded protections for consumers in several key areas, including providing borrowers with foreclosure protection more than once over the life of the loan, expanding consumer protections to surviving family members and clarifying loss-mitigation timelines during servicing transfers.
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CFPB: Best practices on how to continue loss-mitigation needs

Lessons from HAMP
Besides the start of a new year, Jan. 1, 2017 will also mark the first time since 2009 that the government’s Home Affordable Modification Program and Home Affordable Refinance Program will not exist. But now that the end date on these programs is rapidly approaching, government agencies are quickly reminding the industry of the loss-mitigation programs and options available. This includes the CFPB.
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