Mortgage Brokers

News & Analysis as of

Arkansas Amends Rules Regarding Fair Mortgage Lending Act

The Arkansas Securities Department (Department) recently amended provisions to the Rules of the Fair Mortgage Lending Act (Rules) that became effective on February 9, 2014. The new Rules concern the licensing of loan officers...more

CFPB Unveils New Integrated Disclosures Under RESPA and TILA

Today, in a broadcast streamed live on the internet, the CFPB unveiled the long awaited final rule that contains the Integrated Mortgage Disclosures under the Real Estate Settlement Procedures Act (“RESPA”), Regulation X, and...more

Texas Court Holds No Duty to Defend Under Mortgage Broker E&O Policy

In its recent decision in AXIS Surplus Lines Ins. Co. v. Halo Asset Management, LLC, 2013 U.S. Dist. LEXIS 139065 (N.D. Tex. Sept. 27, 2013), the United States District Court for the Northern District of Texas had occasion...more

Vermont Amends Provision Governing Mortgage Brokers Engaging in Loan Processing or Underwriting

Vermont recently provided an exemption from the requirement that mortgage brokers provide a mortgage broker agreement in instances where the broker acts as an independent contractor loan processor or underwriter for a...more

InfoBytes Special Alert: CFPB Finalizes Amendments To The Ability-To-Repay/Qualified Mortgage Rule

Yesterday afternoon, the Consumer Financial Protection Bureau (“Bureau”) finalized important amendments (the “Amendments”) to its ability-to-repay/qualified mortgage rule (the “Rule”) concerning the extent to which loan...more

State Law Update: Virginia Amends Broker Licensing Rule

Recently, the Virginia State Corporation Commission adopted regulations proposed by the Bureau of Financial Institutions to clarify that individuals engaged in the business of a loan processor or underwriter, who do not...more

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