Jeb Bush: Current housing and debt situation unsustainable

Jeb Bush: Current housing and debt situation unsustainable

Is the clock ticking on the 30-year mortgage?

Senate banking committee passes massive regulatory relief bill

Big implications in legislation for housing and mortgage finance

Existing home sales crater in April, falling 3.3%

Spring buying stalls out after strong March performance
W S

Items Tagged with 'CFPB'

ARTICLES

Senator Perdue: Rogue CFPB creates new rules and regulations at whim

Introduces bill to rein in “malicious financial policy”
Trey Garrison
A U.S. Senator introduced a bill Tuesday that would greatly rein in the power and budget of the CFPB, an agency he says is more interested in protecting itself than protecting consumers. It pairs with a House bill that would bring the same accountability. Here's what's happening in Congress right now.
Read More

MBA’s Stevens: Today’s housing policies fail American homeowners

MBA president and CEO lays out how to fix broken system
Ben Lane
Addressing the packed Broadway Ballroom at the Marriott Marquis in New York City, David Stevens, the president and CEO of the Mortgage Bankers Association, spoke with passion as he told the attendees of the MBA’s National Secondary Market Conference that today’s housing policies are “failing the American homeowner.”
Read More

Nationwide Biweekly claims CFPB suit contains multiple errors

“We are puzzled by the CFPB’s allegations”
Ben Lane
Nationwide Biweekly Administration, which stands accused by the Consumer Financial Protection Bureau of misrepresenting the savings that customers will achieve by using the company’s biweekly mortgage payment program, has responded to the CFPB’s charges, saying the regulator's lawsuit is full of errors.
Read More

Mortgage industry: Give us a “good-faith” grace period on TRID

Heavy burden of untested TILA-RESPA process worries bankers, housing experts
Trey Garrison
Key figures in the housing industry testified before the House Subcommittee on Housing and Insurance Thursday, urging members to support a good-faith grace period for compliance with the massive TILA-RESPA Integrated Disclosure requirements. Will they get it and will it be enough?
Read More

Supporting compliance, efficiency and a better consumer experience
Al Verkuylen
Since mortgage originators are being forced to reevaluate their disclosure processes, many are viewing this as an opportunity to not only meet the new requirements, but improve process efficiency, improve the consumer experience, and reduce costs.
Read More

CFPB Director Cordray corrects “serious misunderstanding” about TRID

Plus, 3 circumstances that would allow for closing delays
Brena Swanson
The Aug. 1, 2015 implementation date for the TILA-RESPA Integrated Disclosure still stands, as of now. In a speech Tuesday, the director of the CFPB cleared some of the air on TRID misunderstandings, but looking at the fine print, talk of delaying TRID is not off the table. Still, some in Congress disagree, and are trying to do something about it.
Read More

CFPB issues guidance on fair lending practices

Outlines pitfalls in lending to consumers receiving Section 8
Trey Garrison
The Consumer Financial Protection Bureau is giving guidance to mortgage lenders because there are potential mistakes they can make in lending to applicants whose income includes vouchers from the Section 8 program.
Read More

CFPB sues Nationwide Biweekly for deceptive mortgage practices

Accused of misrepresenting savings potential
Ben Lane
Nationwide Biweekly processes mortgage payments from homeowners to servicers. Now, the CFPB alleges most consumers who enroll in its "Interest Minimizer" program send halved mortgage payments every two weeks, instead of twice per month. That equals two extra, unnecessary mortgage payments a year. And, looking at the CFPB charges, it only gets worse.
Read More

DocMagic rolls out TRID enhancements

Testing phase complete, now ready for deadline
Sarah Wheeler
The Aug. 1 deadline set by the Consumer Financial Protection Bureau has been challenging for many in the industry. A recent survey by the Capsilon Corp. found that 41% of mortgage lenders are not ready to comply with the new rules by the deadline, and only 12% of those surveyed said their companies were "very prepared" for the new regulation.
Read More

Senate Bank Chair weighs sweeping GSE, mortgage lending overhaul

Reform package could free smaller lenders, boost common securitization
Trey Garrison
The chairman of the Senate Banking Committee is drafting sweeping regulatory relief legislation that could be the biggest overhaul to the Dodd-Frank Wall Street Reform Act since it was passed. It could affect mortgage lending, capital requirements and GSE reform efforts. Here's how.
Read More