Jonathan Foxx – Lenders Compliance Group

Right of Rescission after Jesinoski v Countrywide

In a unanimous opinion, the Supreme Court held that providing a notice of rescission within the three-year period is timely and sufficient to trigger rescission within the meaning of 15 USC § 1635(f), the operative…more
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The Lead Generation Company: Managing the Risks

Generating leads is an important way to reach consumers. It is also fraught with regulatory risk. A lead is consumer information that signals consumer interest or inquiry into products or services offered by a business, such as…more
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TILA versus TILA: Resolved in Favor of Consumers!

On September 2, 2014, I published an article, entitled “TILA versus TILA: Rescission by Notice or Lawsuit.” The US Supreme Court has just ruled today in favor of the consumer! The litigation I discussed, specifically, was…more
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RESPA-TILA Integration-Part II-Closing Disclosure & Action Plan, Includes Closing Disclosure Table

This second White Paper of a four-part series will introduce and treat the numerous features of the Closing Disclosure. In the first part, I discussed the mission of the RESPA/TILA Integration and the Loan Estimate. The…more
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RESPA/TILA Integration - Part I: Overview and Loan Estimate

This first of a four-part series will introduce the RESPA/TILA Integration and treat the numerous features of the Loan Estimate. In the second part of the series, I will detail the features of the Closing Disclosure. The third…more
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Loan Estimate Table - RESPA/TILA Integration - Part I: Overview and Loan Estimate

The Loan Estimate Table, the companion to the subject article (separate download), may be used for certain itemized categories and action requirements. The table outlines the types of areas of interest in many of the routine…more
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TILA versus TILA: Rescission by Notice or Lawsuit

Here’s something to ponder on: “Whether the Truth in Lending Act entitles homeowners to rescind their mortgage commitment by notifying the lender in writing within the period specified by the statute, or whether the homeowner…more
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Culture of Compliance: FinCEN's View

I have been promoting the concept of a Culture of Compliance (“Compliance Culture”) for some time. Indeed, I have written rather extensively about it and lectured on the subject. As recently as February 2014, I published a full…more
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Consumer Complaint Database and Public Narratives

For some time we have known about the Bureau’s “Consumer Complaint Database” (“Database”). The Bureau’s new proposal would expand the “public-facing database” to include “unstructured consumer complaint narrative data”…more
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Consumers in Foreclosure: Kick’em when they're Down!

On July 23, 2014, the Consumer Financial Protection Bureau and the Federal Trade Commission jointly issued an announcement, entitled "CFPB, FTC and States Announce Sweep Against Foreclosure Relief Scammers." It seems that the…more
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Bitcoins and SAR Narratives

You probably know about Bitcoin, unless you have been living in total seclusion for the last few years. The big controversy usually centers on determining if it is legal tender. But imagine if you are confronted with a…more
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The Strange Case of the Shrinking Mini-Correspondent: A Primer on Forensics

A characteristic feature of a predictable event is that it often becomes inevitable. When that happens, no manner of pleadings or remonstrations will undo the already done! It is not as if we did not know that the predictable…more
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The Bureau's Pursuit of Fair Lending

By now it is a known fact that one of the most important features of an examination conducted by the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) is a rigorous review of fair lending compliance. So, given its…more
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Mitigating the Risk of Distributed Denial-of-Service (DDoS) Attacks

On Tuesday, April 1, 2014, Ellie Mae’s systems were compromised by a Distributed Denial-of-Service (DDoS) attack. Resources known to be affected were all Encompass services, including Encompass Docs Solution™, Electronic…more
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Creating a Culture of Compliance

In this article, I outline the key questions that should be asked, the answers to which will determine the extent, depth, and integrity of a culture of compliance. I am going to take you through a set of questions that will form…more
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167 W Hudson Street - Ste 200
Long Beach, New York 11561, United States

  • 516-442-3456
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Areas of Practice
  • Financial Services
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