CFPB

  • The New Consumer Financial Protection Bureau

    by Rachel Horman, Esq.  Assistant Vice President & Senior Counselrachel@bankersadvisory.com The Consumer Financial Protection Act of 2010 (Title X of the Dodd-Frank Act) (“the Act”) established the Bureau of Consumer Financial Protection.  On July 21, the rulemaking powers for most consumer financial protection laws will be consolidated and transferred from the following agencies to the […]

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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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  • 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 […]

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  • 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 […]

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  • 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.     […]

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  • Recap of New England Conference and Dodd-Frank Act

    by Dani Krasner, J.D.Bankers Advisory Staff Attorney NEMBC Recap and Key Provisions of the Dodd-Frank Act The 2010 New England Mortgage Bankers Conference (NEMBC) was held on September 15-17 at the Rhode Island Convention Center in Providence. I attended the Conference on Thursday, along with fellow staff attorney Lindsay Sayre Kift, and the following is […]

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  • Welcome to Compliance Monitor!

    Compliance Monitor is a complimentary newsletter written for Bankers Advisory’s clients and associates. As a mortgage industry professional, you have little time to research and comprehend today’s ever-changing laws and regulations. Each issue of Compliance Monitor will feature a key regulation and offer additional resources to help your organization understand, implement and monitor compliance. Visit […]

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