The CFPB announced it was taking preliminary steps to expand the types of loan data that financial institutions must report under the Home Mortgage Disclosure Act.
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 two sets of comments to federal regulators last week, one dealing with appraisals for “higher-risk mortgages” and the other with loan officer compensation.
James McCarthy, who helps manage the Consumer Financial Protection Bureau’s complaint resolution portal, conducted a presentation for the Board of Directors last week.
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.
NRMLA this week submitted comments to the Conference of State Bank Supervisors proposing amendments to the reverse mortgage exam guidelines first published in 2009.
The CFPB study is a well-written, comprehensive analysis of the reverse mortgage program, but contains nothing new that NRMLA or the industry is not already aware of, or working to improve.