Industry Commentary: Servicer Risk
The Consumer Financial Protection Bureau has altered the regulatory climate for banks, credit unions and non-depository financial institutions alike.
NY Hard Money Lenders Under Investigation
Financial services firms making hard money loans are being investigated by a New York regulator for potential predatory lending practices.
Refinance Mortgage Leads Settlement
A company that generates refinance mortgage leads has settled charges that it misled loan prospects about the cost of the transactions.
Maternity Discrimination Settlements Pile Up
Another home lender has agreed to resolve allegations that it discriminated against a borrower on maternity leave -- bringing to 14 the number of such settlements reached over the past three or so years.
Additional Clarification On Integrated Disclosures
In a recent webinar, Consumer Financial Protection Bureau officials provided more clarity on integrated disclosures that become effective next year.
Compliance Employees In Demand
Demand is strong at financial services firms for compliance officers and attorneys who can help companies adhere to a tidal wave of new regulations.
Integrated Disclosure Guide Being Published
Another resource is being made available to help mortgage firms prepare for combined loan disclosures that go into effect next year.
Ginnie Updates ARM Requirements
Issuers of Ginnie Mae mortgage-backed securities will need to modify their disclosure practices on adjustable-rate mortgages.
Mortgage Complaint Database Could Be More Effective
While complaint data about financial services firms provide valuable information, the numbers need to be accompanied by perspective and the process should enhance consumer comparison shopping.