Loans, CFPB, Mortgages | JD Supra Law News

TILA Prohibition on Mandatory Arbitration Provisions in Mortgage Agreements Takes Effect June 1, 2013

by Loeb & Loeb LLP on 5/22/2013

The Consumer Financial Protection Bureau has enacted a new rule that will prohibit the inclusion of mandatory arbitration provisions and waivers of federal statutory causes of action in consumer mortgage and home equity loan...more

Notes from CFPB Education Conference for State Attorneys General

by Reid Herlihy | Ballard Spahr LLP on 5/13/2013

The George Mason University School of Law, Law & Economics Center recently hosted a conference titled “Understanding the Consumer Financial Protection Bureau,” through GMU’s Attorneys General Education Program. Founded in...more

Banking & Financial Services E-Note - April 25, 2013

by John Chiles, Benjamin Coulter, Bryan Glover, John Michael Kearns, Mignon Lunsford, Zachary Miller, Jordan Teague | Burr & Forman on 4/26/2013

In This Issue: - Regulators Could Step in with Tougher Rules as Bank Profits Rise - Bill Would Force Study of Basel III Impact on Bank Capital Costs - Regulator Wants Enforcement Powers Against Bank...more

American Bankers Association Real Estate Lending Conference - Qualified Mortgages: A Sea Change For Mortgage Lenders

by Robert H. Ledig, Thomas P. Vartanian | Dechert LLP on 4/16/2013

In This Presentation: - The Qualified Mortgage (QM) Rule - Small Creditor QM Proposal - The Ability-to-Repay (ATR) Rule: What It Says and What It Means - Liability for Failure to Comply with the ATR and QM...more

CFPB proposes amendments to final mortgage escrow account rule

by Richard J. Andreano, Jr. | Ballard Spahr LLP on 4/16/2013

The CFPB has proposed amendments to its final mortgage escrow account rule dealing with the establishment of mandatory escrow accounts on higher-priced mortgage loans (HPML). According to the proposal’s supplementary...more

CFPB Releases Public Complaint Database

by Jeffrey M. Werthan | Katten Muchin Rosenman LLP on 4/11/2013

On March 28, the Bureau of Consumer Financial Protection (CFPB) announced the release of a public database of federal consumer financial complaints with information on more than 90,000 individual complaints on financial...more

CFPB Expands Public Consumer Complaint Database

by Barbara S. Mishkin | Ballard Spahr LLP on 4/5/2013

The Consumer Financial Protection Bureau has expanded its public Consumer Complaint Database to include complaints about mortgages, bank deposit products and services, student loans, and other consumer loans (which category...more

CFPB Expands Public Consumer Complaint Database

by John L. Culhane, Jr., Alan S. Kaplinsky, Jeremy T. Rosenblum, Christopher J. Willis | Ballard Spahr LLP on 4/1/2013

The Consumer Financial Protection Bureau has expanded its public Consumer Complaint Database to include complaints about mortgages, bank deposit products and services, student loans, and other consumer loans (which category...more

Financial Services Legislative And Regulatory Update -- March 25‚ 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 3/26/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - Members rushed out of town at the end of last week for a two-week...more

You Need to Pay Attention to the Consumer Financial Protection Bureau

by Rich Benenson, Eric Berg, Jeffrey Rugg, Jonathan Sandler | Brownstein Hyatt Farber Schreck on 3/21/2013

For those companies who pay attention to the always evolving regulatory environment as we do at Brownstein Hyatt Farber Schreck, you have likely heard the debate regarding the validity of rules promulgated by organizations...more

CFPB Partners With Newark On Consumer Complaint Hotline

by BuckleySandler LLP on 2/19/2013

On February 7, the CFPB announced that, through a pilot partnership with Newark, New Jersey, the CFPB will accept and respond to questions and complaints about financial products and services posed directly to the Bureau by...more

2013: The Year Ahead for Mortgage Lending

by Suzanne Fay Garwood | Venable LLP on 2/14/2013

In this presentation: - “Never a Dull Moment” - ATR/QM Final Rule - HOEPA Final Rule - Loan Officer Final Rule - Escrow Final Rule - ECOA Appraisal Disclosure Rule - Appraisals for Higher...more

Third Circuit TILA rescission decision adopts CFPB position

by Martin Bryce, Jr. | Ballard Spahr LLP on 2/8/2013

The Third Circuit has now joined the Fourth Circuit in ruling that a lawsuit seeking rescission filed more than there years after loan consummation is timely as long as the borrower sent a written notice of rescission within...more

CFPB Amends Requirements for Providing Appraisals to Home Loan Applicants

by Joseph D. Simon | Cullen and Dykman LLP on 1/30/2013

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

InfoBytes Special Alert: Detailed Analysis Of CFPB's High-Cost Mortgage Rule - January 25, 2013

by Joseph Kolar, John Kromer, Jeffrey Naimon, Joseph Reilly, Clinton Rockwell | BuckleySandler LLP on 1/25/2013

On January 10, 2013, the Consumer Financial Protection Bureau (the “Bureau”) issued a final rule (the “Rule”) that amends Regulation Z (Truth in Lending) to implement changes to the Home Ownership and Equity Protection Act...more

Burr Alert: New Qualified Mortgage Rules Released By The Consumer Finance Protection Bureau

by David Elliott, John Harrelson | Burr & Forman on 1/23/2013

Few would dispute that the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act or Act) has fundamentally altered the residential mortgage industry. Although the Act was passed just over three years ago,...more

CFPB Final Rule on Mortgage Servicing Standards

by Orrick - Structured Finance Group on 1/22/2013

On January 18, the CFPB released final rules, effective January 10, 2014, which set forth national mortgage loan servicing standards....more

CFPB Issues Final Ability-to-Repay and Qualified Mortgage Rule

by Michele Coffey, Kathleen Collins, Ivan Harris, Kenneth Kliebard, Christian Mixter, Tonya Oliver | Morgan Lewis on 1/17/2013

Rule lists criteria that lenders must consider in determining a prospective borrower has the ability to repay a loan and defines Dodd-Frank's concept of a "qualified mortgage." On January 10, the Consumer Financial...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - January 11, 2013

by BuckleySandler LLP on 1/17/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY - Excerpt from...more

Time for a Consumer Financial Protection Compliance Tune-up

by Alexandra Megaris, Jonathan L. Pompan | Venable LLP on 1/16/2013

New Year’s is a good time for a Consumer Financial Protection Bureau (“CFPB”) compliance tune-up. Providers of consumer financial products and services (“providers”) operate in a dynamic environment influenced by challenges...more

U.S. Consumer Financial Protection Bureau Issues Rules on Qualified Mortgages and Ability to Repay

by Linda Ann Bartosch, Patrick D. Dolan, Robert H. Ledig, Ralph R. Mazzeo, Laurie Nelson, Thomas P. Vartanian | Dechert LLP on 1/16/2013

Congress in the Dodd-Frank Act responded to concerns about the quality of mortgage loans by establishing incentives for lenders to seek to ensure that borrowers had the ability to repay mortgage loans made to them. In...more

CFPB Finalizes Ability-to-Repay Rule for Mortgage Lenders, Defines “Qualified Mortgage” and Proposes Exemption to Ability-to-Repay...

by Patton Boggs LLP on 1/15/2013

On Thursday, January 10, 2013, the Consumer Financial Protection Bureau (CFPB) released its final rule on the ability-to-repay requirements, including the definition of “Qualified Mortgage,” that was mandated by the...more

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Loans › Consumer Financial Protection Bureau › Mortgages

TILA Prohibition on Mandatory Arbitration Provisions in Mortgage Agreements Takes Effect June 1, 2013

Notes from CFPB Education Conference for State Attorneys General

Banking & Financial Services E-Note - April 25, 2013

American Bankers Association Real Estate Lending Conference - Qualified Mortgages: A Sea Change For Mortgage Lenders

CFPB proposes amendments to final mortgage escrow account rule

CFPB Releases Public Complaint Database

CFPB Expands Public Consumer Complaint Database

CFPB Expands Public Consumer Complaint Database

Financial Services Legislative And Regulatory Update -- March 25‚ 2013

You Need to Pay Attention to the Consumer Financial Protection Bureau

CFPB Partners With Newark On Consumer Complaint Hotline

2013: The Year Ahead for Mortgage Lending

Third Circuit TILA rescission decision adopts CFPB position

CFPB Amends Requirements for Providing Appraisals to Home Loan Applicants

InfoBytes Special Alert: Detailed Analysis Of CFPB's High-Cost Mortgage Rule - January 25, 2013

Burr Alert: New Qualified Mortgage Rules Released By The Consumer Finance Protection Bureau

CFPB Final Rule on Mortgage Servicing Standards

CFPB Issues Final Ability-to-Repay and Qualified Mortgage Rule

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - January 11, 2013

Time for a Consumer Financial Protection Compliance Tune-up

U.S. Consumer Financial Protection Bureau Issues Rules on Qualified Mortgages and Ability to Repay

CFPB Finalizes Ability-to-Repay Rule for Mortgage Lenders, Defines “Qualified Mortgage” and Proposes Exemption to Ability-to-Repay...

CFPB Rules on Ability-to-Repay and Qualified Mortgages

CFPB Final Ability-To-Repay Rule Prompts Cautious Optimism from Industry

United States Aims To Limit Risky Mortgages

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