The Consumer Financial Protection Bureau, on January 10, published revised examination guidelines for Mortgage Originators and Servicers.
The CFPB has published a regulatory notice, effective January 1, 2014, that clarifies the definition of “amount of credit extended” for purposes of calculating loan originator compensation.
NRMLA, with input from the Risk and Compliance Committee, submitted a letter to FHA that offers suggestions on improving the agency’s Quality Assurance Process.
NRMLA submitted comments this week to the Consumer Financial Protection Bureau in support of a proposal to exclude reverse mortgage when determining “small servicer” status.
NRMLA submitted two sets of comments to federal regulators last week, one dealing with appraisals for “higher-risk mortgages” and the other with loan officer compensation.
NRMLA submitted comments to the CFPB in response to a proposed rule that implements new servicing guidelines.
NRMLA submitted two comment letters to the CFPB that focus on proposed changes to counseling and disclosure requirements mandated in the Dodd-Frank Act.
NRMLA submitted comments to the CFPB in response to a Federal Register notice published over the summer that asked a series of questions about real-life borrower experiences.
A congressionally-mandated study of reverse mortgages published this week by the CFPB concludes that elderly consumers are not getting enough information to help them make well-informed decisions and that better disclosures and better counseling is needed.
The Center for Retirement Research published a briefing paper that provides an abridged, non-technical version of an earlier study entitled, How Important is Asset Allocation to Financial Security in Retirement?