Items Tagged with 'CFPB'

ARTICLES

How burdensome regulations now mean survival of the fittest

The mortgage industry needs more than compliance capabilities
Even today, the consequences of the mortgage crisis of 2008 resonate throughout the mortgage industry. However, the biggest impact from the meltdown wasn't sweeping regulation. Most will agree that there will be more “TRIDs” or “ATRs.” Instead, it's this key factor for businesses that is important.
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TRID works: More homebuyers actually review mortgage documents

ALTA survey shows new CFPB forms more likely to draw consumer attention
Despite the long lead time that the CFPB gave the industry to prepare for TRID, which is also known as "Know Before You Owe," there were still hiccups and headaches for the industry, but it appears after all the frustration and consternation, TRID is working as designed for consumers.
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Monday Morning Cup of Coffee: CFPB targets high-risk home lending groups

Plus the problem with Money Monster
The CFPB is joining with the New York State Department of Financial Services to look into a set of home loans they don't like. Also, REITs continue a bull run. Plus, did anyone go and see 'Money Monster' at the cinema this weekend? Well, the hard-working men and women at the real Clear Capital did and they didn't like it. Here's why.
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5 keys to ensure security and compliance with modern mortgages

Holding complaints at bay keeps the CFPB away
In a world with increasingly sophisticated cyberattacks and stricter mortgage guidelines, modern technology is the answer for risk mitigation. Here’s how mortgage settlement service providers and their lenders can guarantee security and benefit from turn-key compliance.
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CFPB's rule to limit arbitration opens door to class action against banks

But industry questions consumer benefit
The CFPB is seeking comment on a new proposed regulation that would prohibit mandatory arbitration clauses that deny groups of consumers their day in court, putting into motion discussions that started toward the end of last year. When talk first started surrounding arbitration clauses, it received mixed opinions. Do those concerns still hold true?
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From HW Magazine

4 ways to overcome the bottom-line impact of regulation

Technology is the only saving grace for rising mortgage compliance costs
Origination and servicing costs are on the rise to such an extent that lenders are finding it increasingly difficult to continue on a profitable trajectory, thus leading to offloading non-profitable parts of the business. Mergers and acquisitions are on the rise. In such a difficult and dynamic time for a lender, what can they do to keep production costs low?
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CFPB: Changes to TRID coming soon

Bureau responds to industry trade group concerns
Top industry groups banded together to get the CFPB to reopen talk around the rule, and it worked. The CFPB started drafting a Notice of Proposed Rulemaking on the Know Before You Owe rule. And it's probably coming faster than you think.
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