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Tag Archives: Regulation

After the Dust Settles

Weighing in on issues ranging from rent control and home construction to tax cuts and spending constraints, DS News untangles how the new landscape could impact housing and mortgage in 2019.

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Tech Talks: How Technology is Shaping the Industry

As the technology conversation in the mortgage industry heats up, many companies are attempting to meet industry demands and adopt streamlined industry processes. Today’s companies are driven by creativity and innovation and are fostered by client success. DS News spoke to James Vinci, VP and Chief Technology Officer at Equator, about what mortgage professionals can learn from other industries and what technology trends are having the most impact today.

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Reforming Dodd-Frank to Unify the U.S. Economy

“For seven years now, the Dodd-Frank Act has stifled the American Dream—for half of the country,” said U.S. Representative David Kustoff (R-TN) in an opinion piece on CNBC. According to Kustoff, Dodd-Frank requires rolling back, and it has caused plenty of harm since then. Though it saved plenty of big banks during the recession, its regulation has stifled many smaller banks.

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CFPB Offers Clarification to Proposed Data Collection Update

In fall of 2015, the CFPB introduced new data reporting requirements which are set to take effect next year under the 1974 Home Mortgage Disclosure Act (HMDA), updating existing rules which will make lenders provide information on property value, the terms of the loan, the term of prepayment penalties and the duration of teaser or introductory interest rates. However, the increased amount of data which the CFPB requires lenders to report has led increased complications.

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Changing With the Times

Working with regulators, federal agencies, state and local governments, code officials, clients, and other parties requires continued vigilance and understanding of specific, unique requirements. When a change is made at any of those entities, it manifests itself into the specific actions of field services companies’ inspector and contractor networks.

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In Defense of the CFPB

Several consumer rights groups, legal scholars, and members of Congress submitted amicus briefs to the U.S. Court of Appeals for the D.C. Circuit in the case PHH Corporation v. CFPB, in support of the Consumer Financial Protection Bureau (CFPB). With the CFPB’s constitutionality being called into question, many groups seek the defend the Bureau against a possible restructuring by the Trump administration.

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CFPB to Amend Equal Credit Opportunity Act

The Consumer Financial Protection Bureau released a proposal to amend certain regulations in the Equal Credit Opportunity Act (ECOA). The intent is to provide additional flexibility for mortgage lenders in the collection of consumer ethnicity and race information. The proposed ...

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Revised Financial CHOICE Act to Come Soon

Jeb Hensarling first introduced the Financial CHOICE act last summer, in response to the 2010 Dodd-Frank act. The president’s team has already indicated support of the Financial CHOICE Act, which, among other things, would modify aspects of Dodd-Frank and help to reform the Consumer Financial Protection Bureau.

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