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Temperature Rising on Reverse Mortgage Compliance

In October 2014, we featured reverse mortgage compliance in “NewsLINEs” (reprinted here, in part) and pointed out technical compliance requirements and the regulatory interest that appeared to be peaking on the products. On June 4, 2015, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray delivered remarks in a press call …

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Right to Financial Privacy Act – It’s not what you might think

Over the past 15 years, we’ve heard a lot about privacy, namely the Gramm–Leach–Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999. But, there is another federal ‘privacy’ law that is discussed less and carries equally important compliance responsibilities and penalties for noncompliance for financial institutions. …

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TRID: A View to Change

by Mike Vitali CHANGE: The recent tragedy of the crash of Amtrak train 188 in Philadelphia, PA brought a cry from legislators for changes needed to improve the safety of those who ride the rails. The housing crash of 2008 brought about a concern from Congress for changes they believed …

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Are You Ready to Implement the TRID Rule?

by Howard Lax Are you tired of hearing, reading, and watching implementation of the TILA-RESPA Integrated Disclosure (TRID) Rule unfold? Do you receive daily offers of webinars, seminars, and conferences that promise to help us implement the TRID Rule? You might ask why another checklist, let alone another issue of …

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State Regulatory Issues Update – June 2015

Alabama Redemptions – The state of Alabama modified its provisions relating to the redemption of certain real property foreclosed on under a mortgage or sold by virtue of a judgment as well as reducing the redemption period. These provisions are effective on January 1, 2016. Arizona Foreclosure – The state …

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Movin’ on Up: June 2015

Laurie Spira has been hired as Chief Compliance Officer with responsibility for managing Parkside Lending’s compliance management system and ensuring it is integrated into the overall framework for product design, delivery, and administration. Spira brings 16 years of industry experience in policies and procedures, project management, risk management, and compliance …

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Mortgage Compliance Professional of the Month for June 2015: Karen Pittelko

Congratulations, Karen Pittelko, on being selected Mortgage Compliance Magazine’s Mortgage Compliance Professional of the Month – June 2015! Karen currently serves as Senior Analyst, Enterprise Risk – Mortgage Servicing Compliance, for Hudson City Savings Bank in Paramus, New Jersey. When Karen joined Hudson City Savings Bank (Hudson) in February 2014, …

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Police Blotter: Title Company Owner Pleads Guilty to Embezzling Escrow Funds

U.S. Attorney’s Office May 15, 2015    District of Nevada (703) 388-6336 LAS VEGAS, NV—A Utah man who owned a title and escrow company that operated in Nevada, has pleaded guilty to wire fraud for embezzling almost $4 million from company escrow accounts for his own personal use, announced U.S. …

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Letter from the Editor: Will you be TRID-ready, August 1, 2015?

As an industry thought leader, our role as the only national publication whose focus is exclusively on mortgage compliance for both non-depository and depository mortgage lenders is to promote a dialogue around compliance issues and changes. In January 2015, we dedicated the entire issue of our publication to TILA- RESPA …

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Ask the Compliance Experts – June 2015

Q: I have been asked by a local realtor to sponsor realtor training for the upcoming TRID requirements. The realtor is charging each agent $50.00 for attendance and has asked me to sponsor the class and pay the $50.00 fee for each agent in attendance. Is this permissible? A: We …

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