twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Mortgage Compliance News | Mortgage Compliance Newsletter | Mortgage Regulations
News about complying with mortgage laws, rules and regulations.


Videos Help With CFPB Mortgage Rules Compliance

Three mortgage rules addressed in videos

Feb. 13, 2015

By Mortgage Daily staff

A set of videos are intended to help mortgage lenders and servicers comply with three key mortgage rules issued by the Consumer Financial Protection Bureau.

The first video in the series, released late last year, addresses compliance with the CFPB's Ability to Repay and Qualified Mortgage Rule.

A second video that was released just last month takes on compliance with the regulator's Loan Officer Compensation Rule.

On Friday, the Federal Deposit Insurance Corp. -- which produced the videos -- announced that a third video addresses compliance with the bureau's Mortgage Servicing Rules.

"Similar to the other recent mortgage rules, the CFPB's mortgage servicing rules include provisions of particular relevance to community banks, and we hope this video provides useful information tailored to community bank operations," FDIC Director of the Division of Depositor and Consumer Protection Mark Pearce said in the FDIC's statement.

The FDIC noted that the trio of videos are designed to help bank compliance officers and staff understand and follow the CFPB's mortgage-related rules.

The FDIC's announcement comes as community bankers are calling on Congress to provide regulatory relief.

In prepared testimony before the Senate Banking Committee Thursday, American Bankers Association Chairman Elect Daniel Blanton noted that the avalanche of new rules has made it much more difficult to meet customer needs.

"Every bank regulatory change directly affects the cost of providing banking products and services to customers," Blanton said.  "Even small changes can reduce credit availability, raise costs and drive consolidation.  Everyone who uses banking products or services is impacted by changes in bank regulation."

He explained that the heavy regulatory burden is often pushing small banks to sell to banks many times their size -- cutting the number of community by 1,200 over the past five years.

John Buhrmaster, who is the chairman of the Independent Community Bankers of America, said the bank regulations threaten economic growth. If Congress doesn't lighten the burden on small banks, Buhrmaster claims communities will be deprived of essential banking services.

"Simply put -- community banks and the communities they serve deserve tiered regulation that's proportionate with their size and risk profile," Buhrmaster said according to prepared text of his testimony. "Only then will the strangling effect of one-size-fits-all regulation be eradicated -- allowing community banks and local economies they serve to prosper."

Among the changes the ICBA is calling for is the exemption of community banks from certain mortgage reforms to support the housing recovery.

watch FDIC video on Servicing Rules

watch FDIC video on LO Comp Rule

watch FDIC video on ATR and QM Rule

next story

back to current headlines



Financial Regulation News | Mortgage Regulations
Bank and mortgage regulators, regulations and regulatory actions. Coverage of regulatory legislation and testimony.

www.mortgagebranchmanagerjobs.com
Bank news


Mortgage Video News
Mortgage news stories on video.


Today's Mortgage Minute
Increase top of mind awareness and market share
at Today's Mortgage Minute with David Lykken.
sign up now


Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders