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:

  • Dodd Frank Issues Rule on Adverse Action Notices

    by Marissa Aquila Blundell, Esq. Senior Counsel & Vice  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 […]


  • Dodd Frank QM – Proposed Alternative Definitions

    by Marissa Aquila BlundellSenior Counsel & Vice      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 […]


  • Dodd Frank QRM – Proposed Rules for Credit Risk Retention

    by Marissa Aquila BlundellSenior Counsel & Vice President Amid the frenzy surrounding implementation of new Loan Officer Compensation rules, on March 29, 2011 the mortgage industry received the first of two major regulatory proposals issued in accordance with the Dodd Frank Wall Street Reform and Consumer Protection Act (Dodd Frank).  The proposed rule is a […]


  • LO Comp Rules Now in Effect – Fed and HUD Provide Clarification

    by Marissa Aquila BlundellSenior Counsel & Vice President The Federal Reserve Board’s new rules governing originator compensation are now in effect. After a five day court-imposed administrative delay, the United States Court of Appeals denied a request to further delay implementation of the rule. In March, the industry received additional guidance related to the new […]


  • Federal Reserve Clarifies Loan Officer Compensation Rules

    Dear Reader, March has been an exciting month for Bankers Advisory.   We have exhibited at the New Jersey Regional Mortgage Bankers Conference and are now heading to the Mortgage Bankers Association Annual Fraud Conference in Fort Lauderdale.   We’ll be exhibiting again at the American Bankers Association’s Real Estate Lending Conference April 10-12th in Baltimore.     […]


  • Truth-in-Lending Change Applies to Jumbo Mortgages

    by Marissa Aquila Blundell, Esq.Vice President & Senior Counsel The Federal Reserve Board recently amended TILA to provide a separate, higher rate threshold for determining whether a “jumbo” loan is subject to the same escrow requirements as non-jumbo Higher Priced Mortgage Loans (HPMLs). Effective April 1, 2011, if a jumbo loan’s APR exceeds the average […]


  • Federal Registry for National Licensing Now in Effect

    by Lindsay Sayre Kift, Esq.Associate Counsel and Client Services Director The Race Is On:   NMLS Federal Registry Opens On Monday, January 31, 2011, the Conference of State Bank Supervisors (“CSBS”) announced the opening of the Nationwide Mortgage Licensing System (“NMLS”) Federal Registry.   NMLS is now accepting registration filings from institutions and mortgage loan originator (“MLO”) […]


  • Key Points to Truth-in-Lending Changes Effective January 30th

    by Marissa Aquila Blundell, Esq.Vice President and Senior Counsel Next week, all creditors who are responsible for issuing Truth-in-Lending disclosures must comply with new rules. The Federal Reserve issued these rules to implement additional provisions of the Mortgage Disclosure Improvement Act (MDIA). For applications received on or after January 30, 2011, lenders must disclose how […]


  • Key Points to Loan Originator Compensation Rules

    by Marissa Aquila, Esq.Bankers Advisory Staff Attorney On August 16, 2010 the Federal Reserve Board (the Board) promulgated final rules regarding loan originator compensation practices, implementing changes anticipated by the mortgage lending community since the Board’s proposal was released in August of 2009. This rulemaking comes in the wake of the Dodd-Frank Wall Street Reform […]


  • Most Common RESPA Errors

    by Marissa Aquila, Esq., Staff Attorney January 1, 2010 came and went, and the industry, for the most part, successfully implemented new policies and procedures in order to comply with the revised Real Estate Settlement and Procedures Act (RESPA).  As would be expected amidst such significant changes, there has been a temporary uptick in RESPA […]


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