In September 2023, the Consumer Financial Protection Bureau (“CFPB”) released Data Point: 2022 Mortgage Market Activity and Trends (“Data Point”).[1] In the Data Point, the CFPB analyzed applications and originations reportable under the Home Mortgage Disclosure Act (“HMDA”) and summarized 2022 mortgage market activity, highlighting declines in mortgage activity and shifts in transaction types. Significant […]
Seven Questions with Asurity Director of Marketing Events & Client Engagement, Darci Johnson! Meet Darci Johnson! She’s the Director of Marketing Events & Client Engagement here at Asurity and last month, we celebrated her 23rd anniversary with our team! Describe what you do at Asurity/SLG in 3 words or less. DJ: Plan, Coordinate, Facilitate What […]
Loan servicing fees are charges imposed by loan servicers to manage and administer a borrower’s loan. These fees cover a range of services, including processing payments, maintaining records, providing customer support, and handling escrow accounts for property taxes and insurance. While these services are essential for the smooth operation of the lending process and recovering […]
How long have you been in the industry and what brought you to it?I have been working in the industry for over 7 years. My journey began when one of my university professors introduced me to the financial sector, where I worked for about 7 years. After that, I ventured into other areas such as […]
The document notarization process is finally catching up with the way people and businesses operate in today’s digital world. Remote online notarization (“RON”) uses technology to expedite and simplify a process which has traditionally been cumbersome and inconvenient, particularly for those living in rural areas. With the advent of RON, individuals are able to execute […]
Seven Question with Asurity/Sandler Law Group HR Director, Lisa Torgerson! Meet Lisa Torgerson! She’s the Human Resources Director here at Asurity/SLG and last month, we celebrated her 12th anniversary with our team! Describe what you do at Asurity/SLG in 3 words or less. LT: Guide, Enter, Follow-up. I guide the firm/company and its employees through […]
On June 5, 2023, Colorado Governor Jared Polis signed HB23-1229, a new law to opt the state out of Sections 521 to 523 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (“DIDMCA”). The legislation takes effect on July 1, 2024, and applies to all consumer credit transactions made or renewed on or […]
On May 10, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued Consumer Financial Protection Circular 2023-02 (“CFPC 2023-02” or the “Circular”). In CFPC 2023-02, the CFPB considers the following question: After consumers have closed deposit accounts, if a financial institution unilaterally reopens those accounts to process a debit (i.e., withdrawal, ACH transaction, check) or deposit, […]
On April 26, 2023, both the Federal Deposit Insurance Corporation (“FDIC”)[1] and the Office of the Comptroller of the Currency (“OCC”)[2] issued additional guidance regarding overdraft and non-sufficient funds (“NSF”) transactions and fees. Both publications included a discussion of unfair, deceptive, or abusive acts and practices (“UDAAP”)[3] risks associated with “Authorize Positive, Settle Negative” (“APSN”) […]
Housing discrimination has been illegal since the passage of the Fair Housing Act (FHA) in 1968. The FHA was intended to both prohibit housing discrimination and reverse the history of housing segregation. To reach those goals, the federal FHA prohibits discrimination in the sale, rental, or financing of housing on the basis of race, color, […]
