CFPB
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CFPB Publishes Notice Regarding Semiannual Regulatory Agenda
December 23, 2016 the Consumer Financial Protection Bureau (CFPB) published Federal Register Notice Vol. 81, No. 247, Semiannual Regulatory Agenda. The notice is published as part of the Fall 2016 Unified Agenda of Federal Regulatory and Deregulatory Actions.
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CFPB Publishes Small Entity Compliance Guide for New Servicing Rules
November 30, 2016 the Consumer Financial Protection Bureau (CFPB) published a Small Entity Compliance Guide on the final rules that were announced in August 2016, known as the 2016 Mortgage Servicing Rule.
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CFPB Revises Gramm-Leach-Bliley Act Examination Procedures
Institutions no longer required to provide annual privacy notice if certain criteria is met October 28, 2016 the Consumer Financial Protection Bureau (CFPB) announced a revision to the bureau’s examination procedures concerning the Gramm Leach Bliley Act. Examiners reviewing compliance with GLBA’s implementing Regulation P [12 CFR 1016] will now find that the revised examination […]
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CFPB Outlines Next Priority Areas for Enforcement and Supervision
In a speech to the Mortgage Bankers Association October 25, Consumer Financial Protection Bureau Director Richard Cordray highlighted three priority areas for enforcement and supervision in the next year.
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CFPB Issues Updated TRID Compliance Guides
October 2016, the Consumer Financial Protection Bureau (CFPB) published two updated guides pertaining to the Truth in Lending Integrated Disclosure (TRID) rule, a Guide to Forms booklet and a Small Entity Compliance Guide. The Small Entity Compliance Guide reflects a number of changes made since the original publication was issued in April 2014.
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CFPB Finalizes New Servicing Rules, Expands Foreclosure Protections
August 4, 2016 the Consumer Financial Protection Bureau (CFPB) finalized new rules under RESPA and Truth in Lending. The final rule amends certain mortgage servicing rules issued in 2013.
Amendments to the 2013 Mortgage Rules under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z) -
CFPB Outlines Foreclosure Prevention Guiding Principles
August 2, 2016 the Consumer Financial Protection Bureau (CFPB) outlined consumer protection principles to guide mortgage servicers, investors, government housing agencies, and policymakers as they develop new foreclosure relief solutions.
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CFPB Updates Mortgage Servicing Examination Procedures
CFPB Releases Special Edition of Supervision Highlights and Updates Mortgage Servicing Exam Procedures June 22, 2016 the Consumer Financial Protection Bureau (CFPB) released a special edition supervision report focused specifically on mortgage servicers. The report found that some mortgage servicers continue to use failed technology that has already harmed consumers, putting the company in violation […]
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CFPB Issues Final Rule Regarding Annual Threshold Adjustments for 2017 HOEPA and QM Loans
On June 17 2016, the Consumer Financial Protection Bureau (CFPB) announced its annual adjustments to the dollar amounts of various thresholds under the Truth in Lending Act regulations that will apply to certain consumer credit transactions in 2017. The adjustments are based on the percentage change in Consumer Price Index. The notice addresses the thresholds […]
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CFPB Releases 2015 Consumer Complaint Report
March 22, 2016, the Consumer Financial Protection Bureau (CFPB) released its annual Consumer Complaint Report. The breakdown of the number of complaints received for each category were as follows: Debt collection: 85,200 Credit reporting: 55,000 Mortgages: 50,800 Key points of the CFPB Report that pertain to residential mortgages are summarized below. The illustrations below show […]