Ocwen Financial Corporation (Ocwen) is one of the country’s largest nonbank mortgage loan servicers, and it has had its hands full the last six months. On April 20, the Consumer Financial Protection Bureau (CFPB) filed an...more
This article is a follow up to Bruce Wallace’s April 13, 2017 update, "Is your Motor Vehicle Loan Safe?" regarding how insurance policies may not protect the credit union’s lien. Specifically, Mr. Wallace’s update dealt with...more
Late last year, the Department of Justice (“DOJ”) and the Consumer Financial Protection Bureau (“CFPB”) brought a joint action against Hudson City Savings Bank (“Hudson Bank”) for redlining. Hudson Bank, based in New Jersey,...more
9/19/2016
/ Civil Monetary Penalty ,
Civil Rights Act ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
ECOA ,
Federal Housing Administration (FHA) ,
Minorities ,
Mortgage Lenders ,
Mortgages ,
Redlining
In this post, we’re going to examine the subject of redlining in the context of residential mortgage loans. We’re then going to turn our attention to the recent joint action by the Consumer Financial Protection Bureau...more
The effective date for implementation of the “TILA-RESPA Integrated Disclosure” rule, or “TRID” for short, is just around the corner – October 3rd. Originally the effective date was August 1st but that date was extended by...more
9/28/2015
/ Closing Documents ,
Consumer Financial Protection Bureau (CFPB) ,
Disclosure Requirements ,
HUD ,
Mortgage Escrow Account ,
Mortgage Rules ,
Mortgages ,
Regulation X ,
Regulation Z ,
RESPA ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Truth in Lending Act (TILA)
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
7/24/2015
/ Closing Documents ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Veterans Affairs ,
Dodd-Frank ,
Federal Reserve ,
HUD ,
Mortgage Brokers ,
Mortgage Lenders ,
Mortgage Loan Originators ,
Mortgages ,
Proposed Amendments ,
Real Estate Settlement Procedures Act ,
Regulation Z ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Truth in Lending Act (TILA)