Items Tagged with 'Compliance'

ARTICLES

  • Experts reveal greatest compliance pain points

    And how to overcome them
    While President Donald Trump’s administration has worked to reduce regulations since taking office, compliance continues to be a major problem for many lenders. Panelists from the NEXT Women’s Mortgage Tech Conference explained the changing regulatory environment, compliance issues lenders are facing, and some tips on how to deal.
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  • Fed unveils proposal to soften Volcker rule

    Requests comment from interested parties
    The Federal Reserve unveiled its plan Wednesday to soften regulations within the Volcker rule, which imposes limits on large banks in proprietary investment activities. The Federal Reserve explained it is seeking to reducing banks’ compliance costs while maintaining the rule’s effectiveness and consistency.
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  • Tip for mortgage lenders and compliance officers: A weaker CFPB means stronger state regs

    What can lenders learn from recent AG settlements in Massachusetts and California? 
    [Op-ed] Perhaps no one rejoiced more than mortgage compliance officers at the change in leadership and tone (no more “regulation by enforcement”) at the CFPB. However, before you break out the Champagne, consider that regulators in trend-setting states like California, New York, and others now see a need to ramp up efforts to fill a perceived gap.
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  • Optimal Blue launches social media compliance monitoring

    Solution works in real time
    "In today’s social media landscape, it is imperative to take a proactive approach," explained Scott Happ, CEO of Optimal Blue. “By introducing a comprehensive monitoring module, clients can easily detect and resolve issues before they become costly. This also creates a phenomenal opportunity to train staff and loan officers regarding the compliance responsibilities related to social and digital media.”
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  • Despite what some lenders think, it's a bad time to get lax on compliance

    Experts at Ellie Mae Experience warn about growing risk
    President Donald Trump has made eliminating regulations a top priority of his administration and has tried to limit the reach of one of the chief mortgage regulators — the Consumer Financial Protection Bureau. But lenders who interpret that to mean they can relax their compliance efforts are sadly mistaken, according to several panels of experts at the Ellie Mae Encompass conference in Las Vegas.
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  • Lenders reveal top business priorities for 2017

    Refocusing efforts to meet needs of post-crisis era
    In a post-crisis world, lenders refocused their priorities to meet the changing needs of the housing market. Fannie Mae’s second quarter survey shows lenders are no longer concerned about topics such as compliance and have moved on to new priorities in 2017.
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  • The industry’s next level of compliance: Preservation via blockchain

    Blockchain technologies provide solutions for proof of compliance
    The mortgage industry needs the ability to prove compliance for their loan products. But they are faced with challenges as the current mortgage compliance consists of rules, procedures and audits—none of which preserve actual proof of compliance. Blockchain technologies can be particularly helpful for these industries.
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  • How can lenders stay compliant amid possible Trump administration regulatory changes?

    Stick with the status quo
    [Commentary] Despite the fact that the Republican Party holds a majority in both houses of Congress, progress on reducing governmental regulatory oversight has been slower than many expected. Without evidence of actual change, lenders and servicers can only continue to work for full compliance with existing regulations. So how should they operate moving forward in this period of uncertainty?
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  • Here's what's wrong with the CFPB's practice of regulating through enforcement

    Companies are punished just to teach the rest of the industry a lesson
    CFPB Director Richard Cordray asserts that protecting consumers in financial matters involves too many bad actors trying to do too many bad things to be outlined in specific laws. As it turns out, it sounds like the CFPB might decide to take enforcement action against one particular company if they need to “send a public message of deterrence” to the whole industry. This is ludicrous.
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  • How will technology impact loan originators in 2017?

    Here are predictions from 5 leaders
    In 2016, there was an explosion of new tech-focused lenders, origination platforms, and other tools to help professionals provide consumers with a better experience. This year, loan originators will be the deciding factor in which technologies are adopted — and which die. Here is what five experts have to say about it.
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