CFPB Updates HMDA Loan Scenarios Guide

The Consumer Financial Protection Bureau posted an updated version of its HMDA Loan Scenarios guide that financial institutions can use as an illustrative aid to help them file Home Mortgage Disclosure Act (HMDA) data. Last week, the CFPB updated its Resources for HMDA Filers webpage by posting new versions of the Technology Preview, Filing Instructions Guide for data … more CFPB Updates HMDA Loan Scenarios Guide

New CFPB Resources for HMDA Filers

The Consumer Financial Protection Bureau this week updated its resources page for financial institutions that must file Home Mortgage Disclosure Act (HMDA) data. Modifications have been made to the Technology Preview, Filing Instructions Guide for data collected in 2017, Filing Instructions Guide for data collected in or after 2018, and Frequently Asked Questions (FAQs). These materials are also accessible from the Federal Financial … more New CFPB Resources for HMDA Filers

TN Implements Further Regulations on Authorization Requirements for Reverse Mortgage Lenders

By Weiner Brodsky Kider, PC The Tennessee Home Equity Conversion Mortgage Act (“HECMA”, Tenn. Code Ann. § 47-30-101, et seq.) has and continues to require mortgage lenders that wish to engage in the business of making reverse mortgages in Tennessee to submit an application to the Tennessee Department of Financial Institutions (“DFI”) and obtain authorization … more TN Implements Further Regulations on Authorization Requirements for Reverse Mortgage Lenders

NRMLA Responds to CFPB Press Release

The Consumer Financial Protection Bureau announced yesterday in a press release that it had finalized consent orders with three reverse mortgage companies for misleading advertising practices. In response, NRMLA President and CEO Peter Bell made the following statement: The National Reverse Mortgage Lenders Association works hard to educate industry participants on appropriate advertising practices. We … more NRMLA Responds to CFPB Press Release