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Tag Archives: CFPB

Government Agencies Issue Minimum Requirements for State-Run Appraisal Companies

Compliance by states that do have an AMC regulatory body begins one year from the day the new regulations go live, which would put the deadline at the beginning of Q3 2016, according to FHFA. Compliance means adopting minimum registration and supervisory protocols for AMCs, including those that are subsidiaries of federally insured depository institutions.

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CFPB to Host First-Ever Research Conference May 7-8

"The goal of conference is to connect the core community of researchers and policymakers with the best research being conducted across the wide range of disciplines and approaches that can inform the topic of consumer finance," CFPB said on the conference website. "We hope that the conference is attended by a diverse audience from academia, government agencies, nonprofit agencies, and industry."

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White House Threatens to Veto Bill That Cuts CFPB Funding

The bill calls for the establishment of advisory boards or councils within the CFPB of 15 to 20 members each for small businesses, credit unions, and community banks. The stated purpose of each advisory board or council is to "advise and consult" with the CFPB on issues that impact their respective groups.

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CFPB, FTC Penalize Green Tree For Alleged Servicing Violations

The Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) penalized national mortgage servicing company Green Tree Loan Servicing for allegedly mistreating borrowers attempting to avoid foreclosure on their homes, according to a joint announcement from the CFPB and FTC on Tuesday.

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CFPB Amends Guidelines For Providing Lists of Housing Counseling Organizations

Housing counselors‒‒which can be the lenders themselves‒‒can provide advice on buying a home, renting, defaults, foreclosures, and credit issues at little or no cost to consumers. The Dodd-Frank Act of 2010 included a requirement that mortgage lenders provide applicants with a list of local housing counselors, which consumers are to receive shortly after they apply for a mortgage.

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Housing Advocates Ask Regulators to Investigate Possible Pro-Foreclosure Campaigns

The letter, dated April 15, is addressed to Department of Treasury Secretary Jack Lew, Federal Housing Finance Agency Director Mel Watt, and Consumer Financial Protection Bureau Richard Cordray. Ten housing groups signed the letter, which asks the regulators to investigate the investors for allegedly attempting to push borrowers into foreclosure instead of steering them toward loss mitigation plans.

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Lawmakers Ask CFPB to Delay Enforcement of TILA-RESPA

Two Republican lawmakers have written a letter to the Consumer Financial Protection Bureau director asking for the delay of the combined Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) mortgage disclosure forms.

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CFPB Penalizes Mortgage Lender $250K Over Deceptive Advertising

In a press statement, CFPB Director spoke out against such practices, saying, “Deceptive advertising has no place in the mortgage marketplace, and the Consumer Bureau will continue to take action against companies that mislead consumers with false claims of government affiliation."

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House Committee Approves Bills to Provide Regulatory Relief for Banks

Hensarling noted the 11 bills passed by the Committee had bipartisan support and had previously been approved by either the Financial Services Committee or the House of Representatives during the 113th Congress. However, none of the bills came up for a vote in the Senate, which was then under Democratic control.

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