Joseph D. Simon

Joseph D. Simon

Cullen and Dykman LLP

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CFPB Proposes Significant Changes to HMDA Reporting Requirements

The Consumer Financial Protection Bureau (“CFPB”) has issued proposed amendments to Regulation C, the regulation that implements the Home Mortgage Disclosure Act (“HMDA”). The proposed amendments would revise the tests for...more

7/30/2014 - CFPB HMDA Mortgages Regulation C Reporting Requirements

Federal Banking Agencies Issue Guidance on Flood Insurance Requirements for Existing Loans Secured by Multi-Family Residential...

As we have previously advised, the maximum amount of flood insurance available under the National Flood Insurance Program (“NFIP”) for multi-family residential buildings with five or more units will increase from $250,000 to...more

6/2/2014 - Flood Insurance Mortgages Multi-Family Development National Flood Insurance Program Popular Premiums

CFPB Announces Availability Of Revised Publications To Be Provided By Lenders To Mortgage Applicants

The Consumer Financial Protection Bureau (“CFPB”) has announced the availability of three revised consumer publications that mortgage lenders are required to provide to applicants for certain residential mortgage loans. The...more

1/10/2014 - CFPB Lenders Mortgages

IRS Adopts Final Regulations On Reporting Mortgage Insurance Premium Payments

The Internal Revenue Service (“IRS”) has issued final regulations requiring financial institutions and other persons who receive mortgage insurance premiums aggregating $600 or more during calendar year 2013 to report such...more

12/3/2013 - IRS Mortgage Insurance Fund Mortgages Premiums Reporting Requirements

Recent Developments Regarding The Truth In Lending Act’s Transfer Notice To Mortgage Borrower

The Truth in Lending Act was amended in 2009 to require the new owner or assignee of a mortgage loan secured by a consumer’s principal dwelling to send a written notice to the borrower within 30 days after the mortgage loan...more

8/28/2013 - Assignments Borrowers Creditors Loan Transfers Mortgages Notice Requirements TILA

CFPB Issues “Ability-To-Repay” Mortgage Requirements

The Consumer Financial Protection Bureau (“CFPB”) has issued a final rule implementing the “ability to repay” mortgage requirements of the Dodd-Frank Act. The rule requires creditors to make a reasonable, good faith...more

2/11/2013 - Ability-to-Repay CFPB Dodd-Frank Mortgages Prepayment Penalties Qualified Mortgage Rule

CFPB Amends Requirements for Providing Appraisals to Home Loan Applicants

The Consumer Financial Protection Bureau (“CFPB”) has issued amendments to Regulation B requiring creditors to provide to applicants free copies of all appraisals and other written valuations developed in connection with an...more

1/30/2013 - Appraisal CFPB Liens Loans Mortgages Notice Requirements Regulation B Valuation

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