CFPB lays pathway to compliance for lenders, servicers

In other words, smart lenders know that the more things change, the more they stay the same. And for countless organizations, that means continuing to invest as much or more in compliance, as we learned at our recent webinar with the American Financial Services Association, Regulatory Alphabet Soup: As the CFPB evolves, who’s watching lenders now?

 · The CFPB’s new mortgage servicing rules took effect Jan. 10 and are intended to protect borrowers from runarounds by loan servicers. The guidance, issued by the bureau Tuesday, comes with several months of examinations under the new rules and highlights policies that are likely to get a financial institution flagged, as well as policies that meet the rule’s requirements.

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Speaking to Reuters in her first interview since becoming CFPB Director in December, Kathy Kraninger acknowledged the database is under review. Since its inception, the database has generated.

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Conclusion The CFPB’s compliance guidance should be closely reviewed by mortgage servicers. The CFPB has expressed a clear concern regarding servicing transfers, which it considers to be a "highvolume" – business for mortgage servicers and one that involves exposing the consumer to considerable risk.

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CFPB lays pathway to compliance for lenders, servicers. Search for: Recent Posts. Citigroup Acquires Most of Wachovia; Not a Failure, FDIC Says; RealtyTrac: How will new 3% down mortgage products perform? Foreclosures down for third straight month as lenders manage backlog: RealtyTrac;

Marc Israel, MiT National Land Services President and Chief Counsel said in. This happens with many in public policy leadership, to include the CFPB.” Ruth Lee, Titan Lenders Corp., CSP and EVP “I.

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Risk & Compliance In the Big Easy, Auto Lenders Focus on the CFPB and Greater Regulatory Scrutiny Feb 14 2014 I recently attended the American Financial Services Association’s (AFSA) Vehicle Finance Conference in New Orleans.

The Consumer Financial Protection Bureau wants mortgage lenders. exactly what the CFPB wants. “Wells Fargo’s decision to exit all marketing services agreements is an important step for the mortgage.