Mortgage Loan Originators, Mortgages

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - May 10, 2013

by BuckleySandler LLP on 5/13/2013

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

Pay Attention: Final Rules on Loan Originator Compensation

by Michael Dailey | Dinsmore & Shohl LLP on 4/19/2013

January, 2013, was a watershed month for mortgage standards after the Consumer Financial Protection Bureau released the long-awaited final rules on ability to repay, qualified mortgages, mortgage servicing, and appraisal...more

Big Banks Fail 2012 Fannie Mae Star Program

by Philip R. Stein | Bilzin Sumberg Mortgage Repurchase Group on 4/12/2013

According to a report released Tuesday by Fannie Mae, the big banks who love to act like “injured innocents” when it comes to making mortgage repurchase and indemnification demands on loan originators had their own...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - March 15, 2013

by BuckleySandler LLP on 3/16/2013

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

Sixth Circuit Confirms Exempt Status of Mortgage Loan Originators

by Kara Shea | Butler, Snow, O'Mara, Stevens and Cannada,... on 2/7/2013

Employers who rely on exempt classifications to avoid paying overtime—and particularly employers in the banking and financial services industries—should take in interest in a recent ruling affirming the exempt status of a...more

Financial Services Bulletin: CFPB Issue New Final Rules

by Perkins Coie on 1/31/2013

On Thursday, January 10, 2013, the Consumer Financial Protection Bureau (the "CFPB") issued a final rule that amends Regulation Z to implement certain amendments to the Truth in Lending Act ("TILA") made by Sections 1461 and...more

CFPB Ability to Repay Rules Issued

by Leonard N. Chanin, Joseph Gabai, Thomas J. Noto | Morrison & Foerster LLP on 1/29/2013

On January 10, 2013, the Consumer Financial Protection Bureau issued much-anticipated revisions to Regulation Z to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act that require lenders to...more

CSBS Announces Implementation Date For National Mortgage Loan Originator Test

by BuckleySandler LLP on 1/28/2013

On January 16, the CSBS announced that a new national mortgage loan originator (MLO) test with a uniform state component will be available on April 1, 2013. The 2009 SAFE Act requires that MLOs pass a test in order to obtain...more

CFPB Proposes Amendments to New Final Ability-to-Repay Rule, Solicits Comment on Calculating Loan Originator Compensation

by Jennifer M. Keas | Foley & Lardner LLP on 1/28/2013

On January 10, 2013, the CFPB issued its final ability-to-repay rule (Rule), which implements Dodd-Frank mortgage reforms requiring creditors to make a reasonable and good faith determination that a consumer will have a...more

CFPB issues final rules on mortgage servicing, appraisals and loan originator compensation

by Richard J. Andreano, Jr. | Ballard Spahr LLP on 1/23/2013

The regulatory barrage continued last week with the CFPB issuing the last batch of mortgage-related rules it was required to finalize by the Dodd-Frank Act’s January 21 deadline....more

CFPB Issues Final Rule on Loan Originator Compensation Requirements

by Richard J. Andreano, Jr., John D. Socknat, Michael S. Waldron | Ballard Spahr LLP on 1/23/2013

The CFPB has issued a final rule to incorporate Dodd-Frank requirements into the existing Regulation Z loan originator compensation rule that applies to mortgage loans....more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - January 18, 2013

by BuckleySandler LLP on 1/22/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - E-COMMERCE - PRIVACY/DATA SECURITY - PAYMENTS -...more

CFPB Adopts Rules To Prevent Loan Originators From Steering Consumers Into Risky Mortgages

by Stephen M. Quinlivan | Leonard, Street and Deinard - Dodd-Frank and... on 1/21/2013

The CFPB has issued rules to prevent mortgage lenders from steering borrowers into risky and high-cost loans. According to the CFPB, the rules ban certain incentives that loan originators had to sell unsafe loans to consumers...more

Many States Switching to Uniform MLO Test

by Patricia Antonelli, David Pellegrino | Partridge Snow & Hahn LLP on 1/18/2013

In 2013, three New England states will no longer require the state-specific test component for licensing mortgage loan originators (MLOs) due to the implementation of the new National SAFE MLO Test with a uniform state...more

Mortgage Banking Update - January 10, 2013

by Richard J. Andreano, Jr., Jean C. Hemphill, Edward I. Leeds, Barbara S. Mishkin, Amy Mushahwar, Brian M. Pinheiro, Matthew Saunig, John D. Socknat, Mercedes Kelley Tunstall, more +Michael S. Waldron | Ballard Spahr LLP on 1/10/2013

In This Issue: - Ohio Enacts the Nation's First Transitional MLO Licensing Law for Out-of-State MLOs - Noted Data Security and Privacy Attorney Amy Mushahwar Joins Ballard Spahr - Information Security...more

CFPB has launched investigations arising out of warning letters issued to mortgage lenders and brokers

by Alan S. Kaplinsky | Ballard Spahr LLP on 1/7/2013

We previously reported that the Bureau had sent warning letters to many mortgage originators and brokers chastising them about certain advertising practices....more

Dodd-Frank Implementation: Navigating the Road Ahead

by Jay G. Baris, Alexandra Steinberg Barrage, Leonard N. Chanin, Henry M. Fields, Rick Fischer, Oliver I. Ireland, Jeremy C. Jennings-Mares, David H. Kaufman, David M. Lynn, Jerry R. Marlatt, more +Barbara R. Mendelson, Thomas J. Noto, Obrea O. Poindexter, James Schwartz, Andrew M. Smith, James R. Tanenbaum | Morrison & Foerster LLP on 12/29/2012

Table of Contents: Introduction; Financial Stability Reform; Resolution Planning; Agencies and Agency Oversight Reform; Securitization Reform; Derivatives Regulation; Investor Protection Reform; Credit Rating Agency...more

Gotcha! Originators Beware of Baseless Claims

by Robert Siegel | Bilzin Sumberg Mortgage Repurchase Group on 12/13/2012

Just about every time I think that the demands being asserted on residential mortgage loan originators for mortgage loan “repurchases” or indemnification payments (on account of loans that were originated years ago during the...more

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Mortgage Loan Originators › Mortgages