Tag Archives: Regulation

“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.

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.

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.

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.

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 ...

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.

The qualified mortgage rule, a standard set up to make sure borrowers can repay their mortgages, as well as other mortgage servicing and home lending regulations are set to come up for review. The CFPB wants to “try to see what the real-world effects on the market” these regulations have.

President Trump’s presented to Congress his plans to revive the economy, provide better health care, curtail crime and drugs, and create a better life for everyone.

Donald Trump shares that the home building business and housing industry taught him everything he knows and the NAHB 2016 Midyear Board of Directors Meeting , in Miami, Florida.

The collapse of financial institutions due to subprime lending and risky derivative trading left many wondering if banking was regulated enough.