CFPB Provides Guidance on MSAs
The Consumer Financial Protection Bureau has provided guidance on the use of marketing services agreements -- which present substantial liability to residential lenders that utilize them.
House Passes TRID Legislation
Less than a day after the White House threatened to veto legislation that would give lenders a hold-harmless period on implementation of new integrated disclosures, the House of Representatives passed the bill.
Administration Threatens to Veto TRID Legislation
It's only been a few days since new integrated disclosures have gone live, and already a battle is brewing between the executive and legislative branches of government.
Mortgage Apps Surge Ahead of TRID Implementation
In the week leading up to the implementation of the Consumer Financial Protection Bureau's integrated disclosures, new applications for home loans surged.
Fifth Third Agrees to Big FHA Settlement
Fifth Third Bancorp has agreed to settle with the government civil fraud claims on government-insured residential loans that it originated over a 10-year period.
Last Minute TRID Preparations
The deadline is fast approaching for mortgage firms, closing agents and real estate agents to implement new integrated disclosures, and help is still available.
Cordray: Purchase Financing, Lenders Increase
In testimony before Congress today, the head of the Consumer Financial Protection said that despite new mortgage rules -- home purchase lending is growing as is the number of residential lenders and bank lenders. But other data don't necessarily support these trends.
Industry Anxious as TRID Implementation Looms
Federal disclosures that go into effect this weekend will provide consistency for mortgage borrowers. But there is not necessarily consistency in preparedness among industry players.
Conferences Focus On Mortgage Compliance
Multiple upcoming events will provide insight into mortgage compliance for home lenders, residential loan servicers and financial institutions.
Carrington Mortgage Sees Biggest Rise in Complaints
Complaints filed against mortgage companies were up, though not as much as in other financial services sectors. Carrington Holding Company LLC's mortgage unit saw the biggest increase.