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CFPB Issues Update to HMDA Small Entity Compliance Guide

The Consumer Financial Protection Bureau has issued a second version of the Home Mortgage Disclosure Act (Regulation C) Small Entity Compliance Guide. The updated version incorporates various changes to the HMDA rule that...more

CFPB updates TRID Rule small entity compliance guide

The CFPB recently released a revised version of the TILA-RESPA Integrated Disclosure Rule Small Entity Compliance Guide. The revised version incorporates the recent amendments to the rule that became effective on October...more

CFPB updates HMDA rule guidance materials

The Consumer Financial Protection Bureau (CFPB) recently posted on its website updated versions of guidance in connection with the revisions to the Home Mortgage Disclosure Act (HMDA) rules that become effective on January 1,...more

CFPB Enters Into RESPA Settlement With Title Agent

The Consumer Financial Protection Bureau (CFPB) recently entered into a consent order with Meridian Title Corporation (Meridian) under the Real Estate Settlement Procedures Act (RESPA). ...more

CFPB proposes off-balanced approach to public disclosure of HMDA data

In October 2015, the CFPB adopted significant changes to the rules under the Home Mortgage Disclosure Act (HMDA). Among the changes, the items of information to be collected and reported under HMDA are greatly expanded, with...more

CFPB releases summary of TRID Rule amendments

In July, the CFPB finalized amendments to the TILA/RESPA Integrated Disclosure (TRID) rule.   Published in the Federal Register earlier this month, the amendments will become effective on October 10, 2017, with a mandatory...more

FFIEC issues new HMDA resubmission guidelines

As expected, the Federal Financial Institution Examination Council (FFIEC) member agencies issued new data resubmission guidelines under the Home Mortgage Disclosure Act (HMDA) effective for the 2018 data collection year. ...more

TRID Rule Amendments and Proposal Published

As we reported previously, on July 7, 2017 the Consumer Financial Protection Bureau (CFPB) posted on its website long awaited amendments to the TILA/RESPA Integrated Disclosure (TRID) rule, and a proposal to address the...more

FHFA announces reopening and second extension of comment period for LEP RFI

The Federal Housing Finance Agency has announced that it has reopened and extended until September 1, 2017 the comment period on its Request for Input on improving language access in mortgage lending and servicing.  The FHFA...more

CFPB Provides First Look at the HMDA Portal

On August 3, 2017, the Consumer Financial Protection Bureau (CFPB) provided the mortgage industry with a first look at the portal to be used for the reporting of, and public access to, data under the Home Mortgage Disclosure...more

CFPB Adopts TRID Rule Amendments and Proposes to Address Black Hole Issue

As we reported previously, the Consumer Financial Protection Bureau (CFPB) recently issued long-awaited amendments to the Truth in Lending Act (TILA)/Real Estate Settlement Procedures Act (RESPA) Integrated Disclosure (TRID)...more

CFPB Loses Another RESPA Case

A federal district court recently ruled against the CFPB in a long-standing case under the Real Estate Settlement Procedures Act (RESPA) involving a Louisville, Kentucky law firm Borders & Borders, PLC (Borders). In the...more

CFPB provides additional HMDA reporting guidance

The CFPB issued HMDA Loan Scenarios on July 19, 2017 to provide additional guidance to the industry on reporting transactions under the revised HMDA rule, which has a January 1, 2018 effective date for most provisions....more

CFPB Proposes to Temporarily Increase HELOC Reporting Threshold under HMDA

As we have previously reported, in October 2015 the CFPB adopted significant revisions to the Home Mortgage Disclosure Act (HMDA) rule, most of which become effective January 1, 2018. Among the revisions, the reporting of...more

FHFA extends comment period for LEP RFI

The Federal Housing Finance Agency has announced that it has extended until July 31, 2017 the comment period on its Request for Input on improving language access in mortgage lending and servicing....more

CFPB updates HMDA guidance

The CFPB has updated the Home Mortgage Disclosure Act guidance that is available on its resource webpage for HMDA filers.  Updates were made to the Technology Preview, the Filing Instruction Guides for both data collected in...more

CFPB Finalizes TRID Rule Amendments, Punts on Black Hole Issue

The CFPB finalized the long-awaited initial round of amendments to the TILA/RESPA Integrated Disclosure (TRID) rule, also known as the Know Before Your Owe rule. However, instead of addressing the so-called “black hole”...more

CFPB issues executive summary of TRID Rule amendments

The CFPB recently issued final amendments to the TILA/RESPA Integrated Disclosure (TRID) rule and a proposal to further amend the TRID rule.  The CFPB has also issued an Executive Summary of the amendments....more

Industry groups ask FHFA to extend comment period for LEP RFI

A group of eight trade associations has sent a letter to the Federal Housing Finance Agency (FHFA) asking the FHFA to extend by at least 45 days the comment period on the FHFA’s Request for Input (RFI) on improving language...more

Financial institution agencies provide guidance to help alleviate appraiser shortage

The federal banking agencies together with the National Credit Union Administration (the “Agencies”) issued an Interagency Advisory on the Availability of Appraisers that is intended to help address the real estate appraiser...more

ABA Critical of HMDA Rule in Comments to Treasury Secretary

Based on the President’s executive order 13772 on The Core Principles for Regulating the United States Financial System, the American Bankers Association (ABA) submitted a white paper to Treasury Secretary Mnuchin that...more

The Financial CHOICE Act, now closer to passage, would significantly impact the mortgage industry

On May 4 H.R. 10, the Financial CHOICE Act (the Act) introduced by House Financial Services Committee Chairman Jeb Hensarling, R-Texas, obtained enough votes to move the bill on to the House of Representatives floor.  The Act...more

CFPB investigating Zillow for RESPA compliance

For years many industry participants wondered if allowing their real estate agents or loan officers to engage in co-marketing on Zillow Group applications and websites posed a risk to their companies under RESPA. The...more

Trump’s DOJ supports striking Cordray’s removable-only-for-cause protection from Dodd-Frank

The DOJ submitted its amicus brief in the PHH case on Friday, March 17.  We have blogged extensively about this case since its inception. Unsurprisingly, the Trump DOJ supports striking from Dodd-Frank the...more

FinCEN Renewal of GTOs for High-End Cash Buyers in Six Markets

FinCEN announced today that it is renewing the existing Geographical Targeting Orders (GTOs) issued in July 2016 that require all title insurance companies to identify and report on the natural persons behind shell companies...more

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