With the recent developments at the Consumer Financial Protection Bureau (CFPB), many mortgage lenders have been left wondering about the extent to which the CFPB will enforce federal laws governing the mortgage lending...more
3/20/2025
/ Borrowers ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
ECOA ,
HOEPA ,
Homeowners ,
Homeowners Protection Act ,
Loans ,
Mortgage Insurance ,
Mortgage Lenders ,
Mortgages ,
Private Right of Action ,
RESPA ,
State Attorneys General ,
Truth in Lending Act (TILA) ,
UDAAP
In a bit of a surprise development at the end of 2024, the United States Senate passed the Homebuyers Privacy Protection Act, which amends the Fair Credit Reporting Act (FCRA) to include specific restrictions on the use of...more
1/24/2025
/ Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Privacy Rights ,
Consumer Protection Laws ,
Consumer Reporting Agencies ,
Data Privacy ,
Fair Credit Reporting Act (FCRA) ,
Mortgage Lenders ,
Mortgages ,
Privacy Laws ,
State Privacy Laws
Mortgage companies must maintain a heightened level of vigilance when it comes to preventing mortgage fraud. The incidence of fraud attempts targeting mortgage companies continues to rise, prompting decisive action against...more
On April 22, 2024, the Department of Housing and Urban Development (HUD) published its final rule regarding updated flood insurance requirements in certain areas of the country: Floodplain Management and Protection of...more
On February 16, 2024, the Consumer Financial Protection Bureau (CFPB) announced what it heralded as a significant update to its Supervisory Appeals Process. The first of its kind since 2015, this revision introduced a...more
Based upon “the mortgage industry’s evolution over time, the advancement of technology, and due to no longer needing to maintain several branch offices to conduct FHA business nationwide,” the FHA has adopted a new rule...more
On January 4, 2024, Connecticut Banking Commissioner Jorge L. Perez issued a temporary order to cease and desist against LoanSnap, Inc., ordering LoanSnap to cease and desist certain activities and notifying LoanSnap that its...more
In the fourth quarter of 2023, Sen. Raphael Warnock, D-Ga., made industry news, important banking and financial rule changes were implemented, and Georgia's Department of Banking and Finance quietly issued important new...more