In a Request for Information (RFI) posted on the Federal Business Opportunity website last month, the Consumer Financial Protection Bureau (CFPB) solicited information from vendors so it can "better understand current,...more
8/25/2016
/ Administrative Procedure Act ,
Automotive Loans ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Financial Institutions ,
Mortgages ,
NMLS ,
Non-Bank Lenders ,
Popular ,
Registration ,
Request For Information ,
Title Loans
The Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) recently announced a proposed consent order with BancorpSouth Bank to settle charges that the bank’s mortgage lending practices violated the Fair...more
7/22/2016
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Discriminatory Lending Practices ,
ECOA ,
Fair Housing Act (FHA) ,
Fair Lending ,
Mortgages ,
Race Discrimination ,
Real Estate Market ,
Redlining
The Florida Third District Court of Appeal (DCA), sitting en banc, reversed itself this week and held that the five-year statute of limitations did not bar a second foreclosure suit filed on a subsequent payment default so...more
The U.S. Court of Appeals for the Third Circuit has ruled that Pennsylvania’s recording statute does not require the recording of all conveyances. As a result, the Third Circuit reversed the district court’s refusal to enter...more
8/7/2015
/ Banking Sector ,
Banks ,
Class Action ,
Declaratory Judgments ,
Deeds ,
Financial Institutions ,
Lenders ,
MERS ,
Mortgage Lenders ,
Mortgages ,
Recording Fees
In two recent opinions, the U.S. Court of Appeals for the Fourth Circuit substantially limited the potential scope of liability under the Maryland Finder’s Fee Act. Applying the plain language of the statute, the Fourth...more
On November 20, the Consumer Financial Protection Bureau released the nearly 1,900-page final RESPA-TILA Integrated Disclosures Rule. The rule will be effective for applications received on or after August 1, 2015. The...more
In keeping with its promise to provide further guidance to the industry on the mortgage loan rules that go into effect in January, the Consumer Financial Protection Bureau (CFPB) recently issued a press release, bulletin, and...more
The American Association of Residential Mortgage Regulators (AARMR), the trade association for regulators responsible for supervising non-depository mortgage companies, held its annual conference last week in Denver....more
As we reported in CFPB Monitor, the Consumer Financial Protection Bureau proposed changes earlier this week to the mortgage rules adopted in January 2013. Comments on the proposal are due July 22, 2013....more
The CFPB has issued guidance that provides states may use the Uniform State Test (UST) developed by the Nationwide Mortgage Licensing System and Registry (NMLSR) to satisfy the testing requirement of the Secure and Fair...more
In keeping with its promise to provide further guidance to the industry on the recent mortgage loan rules, the Consumer Financial Protection Bureau recently proposed clarifications and changes to the...more
The Maryland Court of Appeals has ruled in Deutsche Bank National Trust Co., Trustee v. Brock that a servicer possessing an original promissory note endorsed in blank — the most common type of endorsement for thousands of...more
In This Issue:
- Uniform State Test Implementation Nearing
- Mortgage Servicer's Alleged Failure To Be Licensed Subjects Company to Claims under State and Federal Debt Collection Statutes
- Sixth Circuit...more
3/21/2013
/ Amount in Controversy ,
CAFA ,
Class Action ,
Data Protection ,
Debt Collection ,
FDCPA ,
Federal Trade Commission (FTC) ,
Foreclosure ,
Homeowners Association (HOA) ,
Licenses ,
Liens ,
Mobile Payments ,
Mortgages ,
Privity of Contract ,
Res Judicata ,
Robo-Signing ,
SCOTUS ,
Uniform State Test
In This Issue:
- Kentucky County Clerks Cannot Sue MERS for Failure To Record Mortgage Assignments, Sixth Circuit Rules
- Bipartisan Policy Center Proposes New Directions for National Housing Policy
- FTC...more
A borrower can bring a lawsuit seeking rescission more than three years after loan consummation as long as the borrower has sent a written notice of rescission within the three-year period, the U.S. Court of Appeals for the...more
The Consumer Financial Protection Bureau has issued a final rule to implement Dodd-Frank amendments to the Equal Credit Opportunity Act that require creditors to provide to a first lien mortgage applicant a copy of all...more
In This Issues:
- CFPB Generates Flurry of New Mortgage Banking Industry Rules
- CFPB Issues Final ECOA Appraisal Rule
- 20 State Agencies Adopt Uniform State MLO Testing
- Mortgage Foreclosure Is Debt...more
The CFPB has issued a final rule to incorporate Dodd-Frank requirements into the existing Regulation Z loan originator compensation rule that applies to mortgage loans....more
Today, the federal financial institution agencies (the FDIC, Fed, OCC, and NCUA), the CFPB, and the Federal Housing Finance Agency adopted a joint final rule to implement Dodd-Frank appraisal requirements for higher-priced...more
The CFPB today issued its final rules implementing provisions of the Dodd-Frank Act that relate to mortgage servicing, which will take effect on January 10, 2014....more
On January 10, 2013, the CFPB issued a final high-cost loan rule under Dodd-Frank that includes a modified version of a proposal that will temporarily avoid a crisis with FHA loans....more
The CFPB has issued its long-awaited ability to repay/qualified mortgage rule, and at first glance, it appears to warrant cautious optimism for the mortgage industry....more
Among other final rules published on January 10, 2013, the CFPB issued its final mortgage escrow account rule under a section of the Dodd-Frank Act relating to the establishment of mandatory escrow accounts on higher-priced...more
In This Issue:
- Ohio Enacts the Nation's First Transitional MLO Licensing Law for Out-of-State MLOs
- Noted Data Security and Privacy Attorney Amy Mushahwar Joins Ballard Spahr
- Information Security...more
In This Issue:
- CFPB and FTC Announce Joint Action Against Mortgage Advertisers
- Temporary Exemptions Adopted for Mortgage Disclosures
- Fourth Circuit Rejects FDCPA Challenge to Prerecorded Calls Seeking...more