Mortgages, Dodd-Frank, Financial Regulatory Reform

Federal Agencies Issue Final Automated Valuation Model Quality Control Rule

Ballard Spahr LLP on 7/3/2024

Federal banking regulators recently began adopting a final rule that requires, among other things, supervised mortgage originators and secondary market issuers to ensure that automated valuation models they use follow quality...more

Federal Agencies Release Proposed Automated Valuation Model Rule

Troutman Pepper on 6/5/2023

With a roll-out led by Vice President Harris, the federal financial services regulators have released the long-awaited proposed automated valuation model (AVM) rule, referencing both home appraisal bias in mortgage lending...more

Consumer Mortgages: Why the CFPB’s QM Rule Compliance Delay Isn’t Quite What It Seems

Manatt, Phelps & Phillips, LLP on 5/14/2021

As proposed back in March, the Consumer Financial Protection Bureau (CFPB or Bureau) has now formally delayed the mandatory compliance date for the new general qualified mortgage (QM) rule to October 1, 2022, effective June...more

CFPB Issues Final Rule Extending the Qualified Mortgage ‘GSE Patch’

Morgan Lewis - All Things FinReg on 10/22/2020

The Consumer Financial Protection Bureau (CFPB or Bureau) on October 20 issued a final rule to extend the government-sponsored enterprises patch (GSE Patch), i.e., the “temporary qualified mortgage” exemption within the...more

CFPB Proposes New ‘Seasoned’ Qualified Mortgage Category

Morgan Lewis on 8/21/2020

The Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed rule on August 18 to create a new category of seasoned qualified mortgages (Seasoned QMs) that, if finalized as written, would carry significant...more

CFPB Proposes Substantial Amendments to Qualified Mortgage Definition, Addresses GSE Patch

Morgan Lewis on 6/30/2020

The Consumer Financial Protection Bureau on June 22 issued two proposed rules with significant implications for the mortgage marketplace....more

Revising the Regulatory Definition of a Qualified Mortgage

Mayer Brown on 2/20/2020

When the federal Consumer Financial Protection Bureau (“CFPB”) last summer issued its Advance Notice of Proposed Rule Making (“ANPR”) to revise the definition of a “Qualified Mortgage” (“QM”) under the Dodd-Frank Act’s...more

Partial Rollback of Dodd-Frank Act: Key Changes for Residential Mortgage Lenders

Holland & Knight LLP on 7/17/2018

• The Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act) rolls back some of the provisions of the Dodd-Frank Act that were found to be overly burdensome and/or difficult to comply with, particularly for...more

CFPB Addresses Partial HMDA Exemption for Certain Depository Lenders

Ballard Spahr LLP on 7/6/2018

The Consumer Financial Protection Bureau (CFPB) recently issued a statement regarding the partial exemption from Home Mortgage Disclosure Act (HMDA) reporting requirements for certain lower mortgage volume depository...more

President Trump Signs the First Major Financial Services Deregulation Law in a Decade

Jones Day on 6/11/2018

President Trump has signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act ("Act"), with the principal goals of promoting U.S. economic growth, recalibrating burdensome rules, and strengthening...more

Bank Deregulation Bill Becomes Law

Cadwalader, Wickersham & Taft LLP on 5/29/2018

On May 24, President Trump signed into law the most significant banking legislation since the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) in 2010. The bill – named the Economic...more

President Trump signs banking bill providing Dodd-Frank relief

Ballard Spahr LLP on 5/25/2018

Thursday afternoon, President Trump signed the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act) into law. The Act was passed by the House on Tuesday by a vote of 258 to 159 and by the Senate on March...more

House Passes Banking Bill Providing Dodd-Frank Relief

Ballard Spahr LLP on 5/23/2018

The U.S. House of Representatives on Tuesday passed S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), by a vote of 258 to 159. ...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 5/23/2018

The US House included the revised Volcker Rule that we’ve discussed in a broader package of Dodd-Frank reforms that it passed with bipartisan support last night. The bill—ostensibly aimed at easing restrictions on small to...more

Senate Passes Banking Bill Providing Dodd-Frank Relief

Ballard Spahr LLP on 3/16/2018

The U.S. Senate on March 14 passed S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), by a vote of 67 to 31. Although the Act would not make the sweeping changes to the Dodd-Frank Act found...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 12/6/2017

The Senate Banking Committee has voted out of committee a bipartisan effort to ease Dodd-Frank regulations. The bill in question could “drastically cut” the number of banks subject to heightened Fed oversight and “would ease...more

Congressional hearing regarding proposed financial regulation scheduled for September 7

Ballard Spahr LLP on 9/6/2017

Congress is back in session and this Thursday, September 7, the House Subcommittee on Financial Institutions and Consumer Credit will hold a one-panel hearing entitled “Legislative Proposals for a More Efficient Federal...more

CFPB issues Spring 2017 rulemaking agenda

Ballard Spahr LLP on 7/21/2017

The CFPB’s Spring 2017 rulemaking agenda has been published as part of the Spring 2017 Unified Agenda of Federal Regulatory and Deregulatory Actions. The preamble indicates that the information in the agenda is current as of...more

The Department of the Treasury Issues Recommendations on the Regulation of U.S. Depository Institutions

Jones Day on 7/1/2017

"A Financial System that Creates Economic Opportunities: Banks and Credit Unions," a Report by the Department of the Treasury, identifies potential reforms that would promote the "Core Principles for Regulating the United...more

Implications of the 2016 Election for Banks, Systemically Important Financial Institutions and Their Investors

Dechert LLP on 10/12/2016

Campaign promises rarely turn into specific actions, but when they do, they are necessarily impacted by the dynamics of the legislative process. History suggests, however, that the policies of candidates can be a predictor of...more

Dodd-Frank News: May 2014: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

Burr & Forman on 5/30/2014

In This Issue: - RECENT CASES ..Preemption ..CFPB Involvement in Litigation ..CFTC Regulation of Retail Commodity Transactions ..Durbin Amendment ..Appraiser Disclosure Requirements Under...more

Dodd-Frank News - March 2014: Dodd-Frank Wall Street Reform And Consumer Protection Act Update

Burr & Forman on 3/27/2014

In This Issue: - Recent Cases January Through March 2014 ..Dodd-Frank Amendments to RESPA ..Dodd-Frank Prohibition on Arbitration Clauses ..Whistleblower Protection Under Dodd-Frank - News &...more

CFPB explores HMDA changes

Ballard Spahr LLP on 2/11/2014

The CFPB announced it will begin the rulemaking process for changes to the reporting requirements under the Home Mortgage Disclosure Act (HMDA). As an initial step, the CFPB will convene a Small Business Review Panel to seek...more

Financial Services Bulletin: Action At Federal Agencies

Perkins Coie on 12/23/2013

Agencies Adopt Final Rules Exempting Certain Higher-Price Mortgage Loans from Appraisal Requirements - On Thursday, December 12, 2013, the Federal Reserve Board, the Consumer Financial Protection Bureau, the Federal...more

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