More about Marissa Blundell

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Marissa Blundell, JD, principal, services as CLA Bankers Advisory’s chief operating officer, overseeing all quality control and compliance assessment services. She is a graduate of Skidmore College and New England School of Law. She is admitted to the Massachusetts Bar. Marissa provides compliance training to clients, conducts public training webinars, and speaks at state and regional industry events. She is co-chair of the Massachusetts Mortgage Bankers Association Legislative Committee and is a member of the Mortgage Action Alliance Steering Committee and the national Mortgage Bankers Association's Quality Assurance Committee.


Articles by Marissa Blundell:

  • Update on CFPB Proposed LO Compensation Rule

    by Marissa Aquila Blundell, Esq.Sr. VP & General CounselIndustry comments regarding the Consumer Financial Protection Bureau’s proposed rules governing loan originator compensation, implementing key provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) must be submitted by October 16, 2012. Although the CFPB extended the comment period for a limited section of […]

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  • Massachusetts Passes Act to Prevent Unlawful and Unnecessary Foreclosures

    by Marissa Aquila Blundell, Esq.Sr. VP & General Counsel  The Massachusetts legislature recently approved an Act to Prevent Unlawful and Unnecessary Foreclosures, which Governor Patrick is expected to sign in the next few days.  Major provisions in the bill will be effective immediately upon its being signed and will impact the Massachusetts foreclosure process significantly. […]

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  • CFPB Considers Proposals Affecting Originator Compensation and Qualification

    by Marissa Aquila Blundell, Esq.Sr. VP  & General Counsel The Consumer Financial Protection Bureau (CFPB) has begun to publish press releases highlighting policies under consideration in advance of its issuing proposed rules.  Based on the timelines mentioned by the CFPB in these press releases, it appears that the industry should expect the rule-making process, consisting of […]

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  • CFPB Addresses Payments to Loan Originators’ Qualified Plans

    by Marissa Aquila Blundell, Esq. Senior Vice President  &  General Counsel On April 2, 2012, the Consumer Financial Protection Bureau (CFPB) issued Bulletin 2012-02, which presents guidance regarding loan originator compensation and qualified profit sharing.  The specific question covered is whether and how the current loan originator compensation restrictions affect employer contributions to qualified profit sharing, […]

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  • Consumer Financial Protection Bureau Finalizes Mortgage Origination Examination Procedures

    by Marissa Aquila Blundell, Esq.Senior Vice President  &  General Counsel On January 11, 2012, the CFPB updated its Supervision and Examination Manual to include its Mortgage Origination Examination Procedures. Previously, the CFPB released its general examination procedures for large depository institutions and non-bank financial services providers which stressed the importance of an effective compliance management […]

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  • OCC Interim Final Rule republishing OTS Regulations: Highlights of Provisions related to Savings Associations’ Mortgage Lending Activities

    By Marissa Aquila Blundell, Esq.Vice President & Senior Counselmarissa@bankersadvisory.com On August 9, 2011, the Federal Register published the Office of the Comptroller of the Currency (OCC) interim final rule republishing certain Office of Thrift Supervision (OTS) regulations.  This rule is one in a series of interim final rules being issued on the heels of the […]

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  • CFPB Rule for Alternative Mortgage Transaction Parity Act

    by Marissa Aquila Blundell, Esq. Senior Counsel & Vice Presidentmarissa@bankersadvisory.com On July 22, 2011, the Consumer Financial Protection Bureau (CFPB) issued an interim final rule which preserved the ability of state housing creditors to make alternative mortgage transactions notwithstanding state law prohibitions. However, the rule incorporates amendments to the Alternative Mortgage Transaction Parity Act (AMTPA), required […]

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  • Fair Credit Reporting Act Risk-Based Pricing Regulations Update

    by Marissa Aquila Blundell, Esq. Senior Counsel & Vice Presidentmarissa@bankersadvisory.com On July 6, 2011, the Federal Reserve Board (FRB) and Federal Trade Commission (FTC) published a final rule adding requirements to the Fair Credit Reporting Act (FCRA) Risk-Based Pricing regulations which were effective January 1, 2011.  This article highlights the new requirements implemented in accordance with […]

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  • Dodd Frank Issues Rule on Adverse Action Notices

    by Marissa Aquila Blundell, Esq. Senior Counsel & Vice Presidentmarissa@bankersadvisory.com  The Federal Reserve Board (FRB) and Federal Trade Commission (FTC) issued a final rule on July 6, 2011 requiring creditors to provide additional information in adverse action notices if a credit score is used in making the credit decision. The new rule is effective 30 days […]

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  • Dodd Frank QM – Proposed Alternative Definitions

    by Marissa Aquila BlundellSenior Counsel & Vice Presidentmarissa@bankersadvisory.com      The Dodd Frank Act prohibits a creditor from making a residential mortgage loan unless the creditor makes a reasonable and good faith, verified determination that the consumer has a reasonable ability to repay the loan. This determination of a consumer’s ability to repay must be […]

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