News & Analysis as of September 26, 2024

Compliance

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

Nutter Bank Report: June 2024

Nutter McClennen & Fish LLP on 6/28/2024

The CFPB, as part of its initiative to accelerate the shift to open banking in the United States, issued a final rule on June 5 that outlines the qualifications to become a recognized industry standard setting body, which can...more

In Latest "Repeat Offender" Salvo, CFPB Sues Mortgage Company for Alleged HMDA Reporting Violations

Hudson Cook, LLP on 10/12/2023

The complaint, filed in the U.S. District Court for the Southern District of Florida, alleges that a non-bank residential mortgage loan originator violated the Home Mortgage Disclosure Act ("HMDA") by submitting inaccurate...more

Are Your Employees Taking Loan Applications? The Reach and Consequence of Mortgage Loan Originator Licenses

Hudson Cook, LLP on 10/2/2023

One of the more nuanced licensing issues that can arise under state credit laws is the need for individual mortgage loan originators (MLOs) to be licensed. On its face, the MLO license seems relatively straightforward....more

GSEs Release Revised Framework for Origination Defects and Remedies — The Proof Will Be in the Execution

K&L Gates LLP on 10/22/2015

By recently releasing yet another revised representation and warranty framework, Fannie Mae and Freddie Mac continued their efforts to assuage the concerns of the lending industry that a default by a borrower poses an unfair...more

CFPB Finalizes New HMDA Reporting Requirements

BakerHostetler on 10/19/2015

The Consumer Financial Protection Bureau (CFPB) finalized a rule yesterday aimed at providing the public and regulators with meaningful information concerning the lending practices of financial institutions....more

CFPB Issues RESPA and Marketing Services Agreements Compliance Bulletin

Stinson LLP on 10/14/2015

On October 8, 2015, the Consumer Financial Protection Bureau (CFPB) issued a compliance bulletin concerning marketing services agreements (MSAs) under the Real Estate Settlement Procedures Act (RESPA). RESPA - RESPA...more

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