September 9, 2015
Better to Be a Banker or a Non-Banker?
The Community Home Lenders Association (CHLA) has prepared an interesting chart, Comparison of Consumer and Financial Regulation of Non-bank Mortgage Lenders vs. Banks. The CHLA is a trade association that represents non-bank lenders, so the chart has to be read in … Continue reading
September 9, 2015 in CFPB | Permalink | No Comments
September 2, 2015
Expanding the Credit Box
DBRS has posted U.S. Residential Mortgage Servicing Mid-Year Review and 2015 Outlook. There is a lot of interest in it, including a table that demonstrates how “the underwriting box for prime mortgages slowly keeps getting wider.” (7) The report notes that While most lenders continue … Continue reading
September 2, 2015 in CFPB | Permalink | No Comments
August 10, 2015
Is the CFPB Unconstitutional?
DepositAccounts.com quoted me in Old Court Case Puts Consumer Financial Protection Bureau on Hot Seat. It reads, in part, here is such a thing as a second act. Even court cases can be resurrected from the dead. Two years after State … Continue reading
August 10, 2015 in CFPB | Permalink | No Comments
August 7, 2015
What To Do With MERS?
Bloomberg BNA quoted me in More Policy Queries As MERS Racks Up Court Wins (behind a paywall). The article further discusses the case I had blogged about earlier this week. It reads, in part, Mortgage Electronic Registration Systems, Inc. (MERS), the keeper of … Continue reading
August 7, 2015 in CFPB | Permalink | No Comments
August 6, 2015
eClosings
The Consumer Financial Protection Bureau has issued a report on its eClosing pilot, Leveraging Technology to Empower Mortgage Consumers at Closing. The term “eClosing” refers to technology-enabled loan closings. The CFPB became interested in how eClosings “could facilitate embedding educational … Continue reading
August 6, 2015 in CFPB | Permalink | No Comments
August 3, 2015
Monday’s Adjudication Roundup
The Third Circuit upholds class certification in case against PNC Bank NA, in which individuals are alleging the bank participated in an illegal home equity lending scheme. Residential Credit Solutions Inc., a mortgage servicing company, will pay $1.6 million in … Continue reading
August 3, 2015 in CFPB | Permalink | No Comments
July 28, 2015
Optimizing Mortgage Availability
The United States Government Accountability Office (GAO) has issued a report, Mortgage Reforms: Actions Needed to Help Assess Effects of New Regulations. The GAO did this study to predict the effects of the Qualified Mortgage (QM) and Qualified Residential Mortgage … Continue reading
July 28, 2015 in CFPB | Permalink | No Comments
