More troubling signs point to potential increase in defaults

More troubling signs point to potential increase in defaults

And yet we introduce a 100% LTV mortgage

Calgary housing market a canary in the shale mine?

Home prices, sales plummet alongside price of crude oil

Here's why the loanDepot CEO loves the CFPB

Regulatory environment huge barrier to entry
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Items Tagged with 'CFPB'

ARTICLES

House Committee grills Cordray on QM, mortgage regulations

Republicans still want more accountability, Democrats push back
Trey Garrison
CFPB Director Richard Cordray made his semi-annual appearance before Congress, and it was everything you think it would be. Here's the story.
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CFPB Director Cordray talks HMDA exemptions and more

Here’s his prepared opening statement
Trey Garrison
Consumer Financial Protection Bureau Director Richard Cordray goes into the coliseum today at 2:30 p.m. ET but here’s a preview of his opening remarks.
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From HW Magazine

Single stack

Mortgage lending — finally — gets smarter with digital, automated and cloud-based technology
Kerry Curry
In the tech world a “stack” refers to all the elements of something. For the mortgage industry, the idea of the single stack is that one platform (digital, automated and based in the cloud) can either meet all of the functional requirements involved in assembling a mortgage, or can serve as an efficient moderator for the process via open APIs (application programming interface), which are now taking off within the mortgage industry.
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From HW Magazine

The CFPB needs a regulator of its own

Why is it OK for the bureau to violate the standards it imposes on others?
Sarah Wheeler
Nothing reeks of hypocrisy more than the regulator ignoring regulations, but the CFPB has racked up plenty of violations in the last year. And we’re not talking about small, nitpicky examples, but instances that have real-life consequences. If a lender or servicer were to violate any of these standards, they could expect swift and harsh punishment from the CFPB.
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MBA Servicing: Why would anyone bother to do this anymore?

Regulations are choking the life out of this business
Trey Garrison
What's the word on everyone's mind at MBA Servicing 2015? Regulations. Why does it matter? Because the cure has become worse than the illness.
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MBA Servicing: Be proactive and work with state AGs on complaints

The net of state and federal regulations can be a spider’s web
Trey Garrison
The regulatory environment for servicers is like a maze created and enforced by multiple parties. Navigating it requires firms be active in getting ahead of the problem.
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Stevens: Performance, quality should drive market share in mortgage servicing

Excessive capital standards, regulations discourage good servicers
David Stevens
Companies that want to service – and do it well – should not be discouraged from servicing by excessive capital standards or other onerous regulations, but that's what's happening. Here's the problem.
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DocMagic integrates with MERS eRegistry

Aligns with new industry standards
Brena Swanson
There are a lot of regulation and compliance changes coming down the pipeline for the mortgage industry, and DocMagic continues to innovate its technology for the new standards, starting with these.
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Huffington Post: 4 reasons to ignore the CFPB mortgage tool

A disservice to homebuyers?
Jacob Gaffney
Borrowers will no doubt be drawn to the mortgage rate tool from the Consumer Financial Protection Bureau when it comes time for them to do some home shopping. On the Huffington Post, Jack Guttentag, professor of finance emeritus at the Wharton School of the University of Pennsylvania, gives several perfect reasons for why they shouldn’t do that.
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CFPB takes action against three mortgage companies for false advertising

Lenders accused of implying government approval of products
Brena Swanson
The Consumer Financial Protection Bureau is taking action against three lenders for misleading consumers with advertisements implying U.S. government approval of their products. This action is part of a joint sweep conducted by the CFPB and the Federal Trade Commission of about 800 randomly selected mortgage-related ads across the country.
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