By Jonas Hoerler, Chief Regulatory Counsel, RegCheck & Diane Jenkins, Partner, Sandler Law Group For mortgage lenders and servicers as well as other players in the consumer financial services industry, it may truly be the end of an era. Since its inception, the Consumer Financial Protection Bureau (“CFPB”) has been a guiding force to the […]
On Thursday, April 16, the CFPB announced an amendment to Regulation C raising the loan-volume coverage thresholds for financial institutions reporting data under the Home Mortgage Reporting Act (HMDA).
On May 1, the CFPB issued a factsheet designed to give lenders guidelines for when an assumption of an existing loan by a new consumer requires them to deliver TRID disclosures (Loan Estimate and Closing Disclosure) to the new consumer.
The Illinois legislature recently amended provisions of its Residential Mortgage License Act (“Act”), effective December 19, 2018. The Consumer Financial Protection Bureau (“CFPB”) announced the asset-size exemption thresholds for 2019 for Regulation C and Regulation Z. ILLINOIS HOUSE BILL 5542 Licensees under the Act who are not filing a Mortgage Call Report with […]
