Articles Tagged with ''Regulation''

Smaller independent mortgage bankers request freedom from CFPB exams

CHLA responds to bureau’s request for comments
The Community Home Lenders Association submitted a letter to the Consumer Financial Protection Bureau requesting that smaller independent mortgage bankers be exempt from the bureau’s exams and audits. The letter comes in response to the CFPB’s request for comment on its own enforcement process, which it issued back in February.
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Mulvaney unveils sweeping plan to dramatically alter CFPB

Mulvaney: We commit to the CFPB’s statutory responsibilities, but will go no further
Over the past few months, Mick Mulvaney has provided smaller indications about how much differently the Consumer Financial Protection Bureau will function under his leadership than it did under the bureau’s former director, Richard Cordray. But Monday, Mulvaney fully revealed his plan to dramatically alter how the CFPB operates.
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Dear St. Mick: My Holiday wishlist for the CFPB’s new director

3 big-ticket items
[Op-ed] Well, as I was perusing the “Dear Santa” wish lists of my young nephews, I felt inspired to write up a wishlist to St. Mick (the CFPB’s newly-appointed Acting Director, Mick Mulvaney). I’m hoping that somehow, by some holiday magic, someone at the CFPB will see it and consider some changes that would certainly brighten the new year for our industry.
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Your top 10 HMDA questions answered: Part 6

How do you define an origination to meet the threshold for HMDA reporting?
The Home Mortgage Disclosure Act deadline looms closer, but many questions still remain unanswered. As the HMDA deadline approaches, many lenders have asked questions about which loans they are required to report data. In part six of this series, experts explained what causes an origination to meet the threshold for HMDA reporting.
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Your top 10 HMDA questions answered: Part 5

How are the LOS providers generating the ULI and on what document will it be placed?
The Home Mortgage Disclosure Act deadline looms closer, but many questions still remain unanswered. Experts explained the Consumer Financial Protection Bureau released a specific algorithm to calculate the universal loan identifier. Now, companies are beginning to release products that calculate that algorithm.
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Part 2: Everything you need to know about entering the mortgage finance market

Post Dodd-Frank overview of regulated residential mortgage lending
An increasing number of nonbank financial participants are considering an entry or reentry into the mortgage finance market as the financial crisis, which commenced a decade ago, starts to recede from view. As more companies continue to consider entering mortgage finance, here’s everything they need to know about the market, and the regulators that govern it.
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Senate looks to pass sweeping changes to financial regulations

Bipartisan agreement would relieve small and regional lenders
New bipartisan legislation introduced in the Senate could create major regulatory relief for smaller and mid-sized lenders across the nation. The Senate’s proposal would cut the number of banks subject to heightened oversight from the Federal Reserve from 38 to 12.
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Waters' bill gives power to Fed to shut down megabanks

Wells Fargo "definately qualifies" to be shut down
House Committee on Financial Services Democrats announced a new bill that would give the federal government the power to shut down megabanks that repeatedly harm consumers. Maxine Waters said that, under her bill, Wells Fargo would “absolutely qualify” to be shut down.
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Trump talks Dodd-Frank: We’re going to cut regulations tremendously

Trump discusses regulatory rollback in wide-ranging New York Times interview
In an expansive, wide-ranging interview with the New York Times, President Donald Trump stated that he would not have selected Jeff Sessions to serve as attorney general if he knew that Sessions would recuse himself from the investigation into Trump's suspected ties to Russia. And while that proclamation seems to be grabbing all the headlines, Trump also discussed a number of other issues, including his administration's push to roll back Dodd-Frank and the administration's efforts to cut regulations "tremendously."
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