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CFPB Publishes Updated Versions of Small Entity Compliance Guide and Guide To Forms

The CFPB has posted on its TILA-RESPA implementation webpage updated versions of its Small Entity Compliance Guide and Guide to Loan Estimate and Closing Disclosure Forms.  The updates focus on various guidance provided in...more

GAO Issues Report on CFPB SBREFA Panels

The Government Accountability Office (GAO) has issued a report on the Consumer Financial Protection Bureau's (CFPB) use of Small Business Regulatory Enforcement Fairness Act (SBREFA) panels in its rulemaking process. The...more

GAO issues report on CFPB SBREFA panels

The Government Accountability Office has issued a report on the CFPB’s use of Small Business Regulatory Enforcement Fairness Act (SBREFA) panels in its rulemaking process. The report, “Observations from Small Business Review...more

What You Need to Know About the CFPB's Priorities for 2016 and 2017

The CFPB recently announced its policy priorities for the next two years. There are not too many surprises, since the CFPB has been targeting most of these areas in recent months and years. Here's what the Bureau is planning,...more

Federal Reserve Set to Update Regulation Z to Add CFPB Rules

On February 19, the Federal Reserve noticed an information collection regarding recent changes to Regulation Z. The Notice (81 Fed. Reg. 8492) explains that the Federal Reserve is planning to update Regulation Z to include a...more

New Law Establishes A Bill Of Rights For CCRC Residents And Streamlines Several Statutory Requirements For CCRCs

On June 23, 2015, Governor Malloy signed into law Public Act. No. 15-115, An Act Establishing a Bill of Rights for Residents of Continuing-Care Retirement Communities ("the Act"). The Act establishes several protections for...more

Loan Originator Compensation: CFPB Grabs the “Steering” Wheel

The CFPB took action against two mortgage companies for violations of the Loan Originator Compensation Rule (“LO Comp Rule”), which prohibits compensation to loan originators based on loan terms, claiming that the companies’...more

Federal agencies issue final rule on standards for appraisal management companies

The CFPB along with five other federal agencies have issued a final rule that establishes minimum state registration and substantive requirements for appraisal management companies (AMCs), as required by Section 1473 of the...more

Henning vs Wachovia Mortgage FSB aka Wells Fargo Bank N.A.

Federal Judge William Young in Massachusetts Orders Wells Fargo and a majority of its board to approve a corporate resolution...Massachusetts

Federal Judge William Young in Massachusetts is making an unusual request of Wells Fargo in a Sept. 17 ruling in which he's requiring the bank's president and a majority of its board to approve a corporate resolution stating...more

FBI's Mortgage Fraud Report as Prepared by the Financial Crimes Intelligence Unit

The objective of this study is to provide FBI program managers and the general public with relevant data to better understand the threat posed by mortgage fraud. The report was requested by the Financial Crimes Section,...more

DEPARTMENT OF JUSTICE PRESS RELEASE Re: Government Restated their Statistics because it "Got Caught Red-Handed" by Bloomberg News

LIES: Eric Holder Owes the American People an Apology When Holder first trotted out these figures last October, he bragged during a press conference about the results of the government’s “Distressed Homeowner Initiative,”...more

PHILLIP R. CORVELLO, Plaintiff-Appellant, v. WELLS FARGO BANK, NA, DBA America’s Servicing Company, DBA Wells Fargo Home Mortgage, Inc., Defendant-Appellee

APPELLANTS’ OPENING BRIEF Re: Wells Fargo Mortgage Modification Lawsuits Revived by 9th Circuit Court of AppealsCalifornia

ISSUES PRESENTED 1. Whether the district court erred in ruling that plaintiffs failed to allege the existence of binding TPP Agreements. 2. Whether the district court erred by dismissing plaintiffs’ breach of TPP...more

LPS Mortgage Monitor July 2013 Mortgage Performance Observations

The June Mortgage Monitor report released by Lender Processing Services (NYSE: LPS) found that the nearly 10 percent spike in the national delinquency rate reported in the company’s “First Look” at mortgage performance was...more

FORMER EXECUTIVE LORRAINE BROWN AT FLORIDA-BASED LENDER PROCESSING SERVICES INC. SENTENCED TO FIVE YEARS IN PRISON FOR ROLE IN...

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Tuesday, June 25, 2013 FORMER EXECUTIVE AT FLORIDA-BASED LENDER PROCESSING SERVICES INC. SENTENCED TO FIVE YEARS IN PRISON FOR ROLE IN...more

Office of the Comptroller of the Currency’s Minimum Standards for Prioritization and Handling Borrower Files Subject to Imminent...

Office of the Comptroller of the Currency’s Minimum Standards for Prioritization and Handling Borrower Files Subject to Imminent Foreclosure Sale for all OCC Regulated Banks. The OCC guidance is significant because it...more

Senator Elizabeth Warren's May 14, 2013 letter to Ben Bernanke, Eric Holder, & Mary Jo White

Senator Elizabeth Warren's May 14, 2013 letter to The Board of Governors of the Federal Reserve System, U.S. Department of Justice...U.S. Supreme Court

Senator Elizabeth Warren Pushes Feds For Answer On Big Bank Enforcement WASHINGTON — Sen. Elizabeth Warren (D-Mass.) raised the stakes of her quest to find out why a single Wall Street bank has not been prosecuted in the...more

ROBO-LITIGATION Re: Attorney Misconduct at Foreclosure Mills

ROBO-LITIGATION Re: Attorney Misconduct at Foreclosure Mills The scale of attorney malfeasance in connection with the foreclosure crisis is enormous. Whether attorneys knowingly filed false documents or simply failed to...more

FDIC to host banker teleconferences on CFPB mortgage rules

The FDIC has scheduled the following three free teleconferences on the CFPB’s new mortgage-related rules for officers and employees of FDIC-supervised institutions... ...more

REPORT of U.S. Department of Housing and Urban Development Re: Audit for Wells Fargo Bank,Foreclosure and Claims Process

RESULTS OF REVIEW Wells Fargo did not establish effective control over its foreclosure process. This failure permitted a control environment in which The affiants routinely signed and certified that they had personal...more

Two Bank of America Fraud Whistleblowers Settle Claims, Including Former LandSafe/Countrywide Employee Who Earned $14 Million...

Seattle – May 29, 2012 – Attorneys representing former home appraisal manager Kyle W. Lagow, who blew the whistle on widespread fraud at Countrywide Financial, today announced the final settlement of Mr. Lagow’s whistleblower...more

Construction Oberview: Maryland Court of Appeals Rules that Consumer Protection Act Applies to Condominium Resale Disclosures

In a unanimous opinion filed on April 30, 2012, the Maryland Court of Appeals has established that provisions of the Maryland Consumer Protection Act apply to the information contained in a condominium resale certificate. The...more

Has the Pennsylvania Superior Court Created Chaos and Uncertainty for Existing and Already Completed Foreclosures?

The recently reported three (3) panel decision in Vukman v. Beneficial Consumer Discount Company brings into play the validity of using the Uniform Act 91 Notice that was adopted on June 5, 1999 by the Pennsylvania Housing...more

CFPB Issues S.A.F.E. Act Examination Procedures

On March 7, 2012, the Consumer Financial Protection Bureau (CFPB) issued guidance regarding examination procedures pertaining to compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act or...more

CFPB: Defining "Larger Participant"

On June 29, 2011, the Consumer Financial Protection Bureau (CFPB) issued a request for comments regarding the requirement to implement a program to supervise certain nondepository covered persons for compliance with Federal...more

Flopping or a Valid Increase in Market Value?

Real Estate Investors are frequently criticized by Agents and Brokers because investors seemingly make huge profits in one day by purchasing a house for a low price and selling it for much more money. Investors flip houses on...more

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