Sources: Morris Schneider Wittstadt declaring bankruptcy, closing immediately

Sources: Morris Schneider Wittstadt declaring bankruptcy, closing immediately

LandCastle Title’s operations will not be affected

8 avoidable mistakes first-time homebuyers keep making

Stop doing these things

Trending Thursday: CFPB data collection worse than the NSA?

Slowly but surely GSE shareholders cutting into Treasury, FHFA secrecy
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Items Tagged with 'CFPB'

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Trending Thursday: CFPB data collection worse than the NSA?

Slowly but surely GSE shareholders cutting into Treasury, FHFA secrecy
Trey Garrison
If you liked the NSA spying on innocent Americans, you’ll love what the CFPB is up to. Plus, is the mortgage industry ready for the coming surge of minority homebuyers, Dodd-Frank is turning five this month, and more.
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From HW Magazine

CFPB Watch: Congress fights for control

The Senate joins the House in trying to exercise oversight
“The CFPB undoubtedly remains the single most powerful and least accountable Federal agency in all of Washington,” Jeb Hensarling said. “When it comes to the credit cards, auto loans and mortgages of hardworking taxpayers, the CFPB has unbridled, discretionary power not only to make those less available and more expensive, but to absolutely take them away.”
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From HW Magazine

The awful truth about TRID

Even with a grace period, the remedy is worse than the disease
Sarah Wheeler
The CFPB left the grace period open-ended and most in the industry interpreted that to mean that it will last throughout the rest of 2015, at least. Unfortunately, as welcome as that grace period is, TRID remains a costly and complicated fix that has enormous implications for the whole industry.
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From HW Magazine

August and everything after

How the default industry will have to adapt
Adam Hansen
Significant regulatory changes such as the upcoming TRID rollout serve as compelling reminders that today’s mortgage default servicing industry requires quality technology that is both well-managed and well-maintained. To optimize efficacy, every link in the servicing chain needs to have a strong technological foundation: As a community, we have to work together to commit to a coordinated and consistent approach.
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Ellie Mae publishes comprehensive TILA-RESPA guide

Comprehensive FAQ will be regularly updated
Trey Garrison
Ellie Mae is publishing a free, 16-page RESPA-TILA FAQ guide to help lenders understand and comply with the Integrated Disclosure Rule, currently scheduled to go into effect Oct. 3.
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CFPB employees: Workplace discrimination getting worse, leadership absent

Retaliation against CFPB employees called “a fact”
Trey Garrison
Witnesses who work at the CFPB told Congress today that discrimination and retaliation at their workplace has actually gotten worse since initial reports from April 2014, and that there's a failure of leadership all around. Want to know more?
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CFPB publishes 8,000 complaints against banks, lenders, financial institutions

Database aimed to help lenders, consumers
Brena Swanson
Nearly 8,000 consumers' accounts of problems they are facing with financial companies are now live in a public-facing consumer complaint database. However, before a complaint goes live, lenders do have options.
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Trending Thursday: Busy week on Capitol Hill with CFPB, SCOTUS making appearances

Game-changing rules announced this week
Brena Swanson
From the Consumer Financial Protection Bureau to the U.S. Supreme Court, the government announced several new game-changing initiatives for housing finance. Not all were welcomed with open arms.
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Whistleblowers to testify on alleged discrimination at CFPB

The charge: Protective agency fails to protect its employees
Trey Garrison
More than a year after House hearings revealed a culture of alleged discrimination and retaliation at the CFPB, two new witnesses are coming forward charging that rather than getting better, discrimination at the bureau is getting worse.
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CFPB changes TRID effective date — again

Proposal open for public comment until July 7
Trey Garrison
Another week, another change to the effective date of the TILA-RESPA Integrated Disclosure rule comes from the CFPB. Here's the latest news as of today.
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