As we previously reported, the CFPB is conducting an assessment of the TILA/RESPA Integrated Disclosure (TRID) Rule. Although the comment period associated with the Federal Register notice regarding the assessment ended on...more
In 2018, the CFPB issued multiple rules, and Congress passed legislation, to clarify, revise and update the regulatory framework applicable to the home mortgage origination and servicing market....more
The Consumer Financial Protection Bureau (CFPB) recently issued revised versions of the small entity compliance guides for the Loan Originator Rule and the Home Ownership and Equity Protection Act (HOEPA) Rule....more
Last week, members of the Senate Banking Committee announced that they had reached bipartisan agreement on “legislative proposals to improve our nation’s financial regulatory framework and promote economic growth.” ...more
The Government Accountability Office has issued a report on the CFPB’s use of Small Business Regulatory Enforcement Fairness Act (SBREFA) panels in its rulemaking process. The report, “Observations from Small Business Review...more
Last week, the Consumer Financial Protection Bureau (CFPB) released its proposed amendments to the “Know Before You Owe” mortgage disclosure rule, commonly known as the Truth in Lending Act-Real Estate Settlement Procedures...more
On the eve of the New Year, the Consumer Financial Protection Bureau (CFPB) took steps to calm industry concerns about the effect of the new TILA RESPA Integrated Disclosure (TRID) rules enacted by the CFPB. Effective October...more
On October 1, regulators including the CFPB sent a letter to mortgage industry trade groups regarding TRID. The letter states that...more
Montana has adopted a temporary rule to reduce certain licensing renewal fees by 50 percent for the period of January 1, 2016 through December 31, 2016. The Department of Administration believes that adopting the Uniform...more
Wednesday, the following four CFPB-related bills were passed by the House Financial Services Committee: H.R. 3192, the “Homebuyers Assistance Act”: The bill would provide a hold harmless period for the TILA/RESPA Integrated...more
The Consumer Financial Protection Bureau (“CFPB”) recently issued or perhaps had to issue a proposed amendment to the “Know Before You Owe mortgage disclosure rule,” also known as the “TILA-RESPA Integrated Disclosure” rule,...more
Senator Richard Shelby (R-AL) released a draft of a regulatory reform bill titled “The Financial Regulatory Improvement Act of 2015” on May 12, 2015. The draft bill addresses various residential mortgage lending issues...more
On May 12, 2015, U.S. Senator Richard Shelby (R-Ala.), Chairman of the United States Senate Committee on Banking, Housing, and Urban Affairs, released the text of draft legislation intended to reform the regulatory framework...more