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Compliance

RESPA Kickbacks

Get your “kicks” on Route 66, not from RESPA! The Real Estate Settlement Procedures Act (RESPA) was enacted by Congress in 1974 to regulate the disclosure of all costs and business arrangements in a real estate transaction settlement process. One purpose of RESPA is to regulate the referral of business …

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National Flood Insurance Program

Flood Insurance Rules Flood compliance has been challenging historically, and it has become more complex with the recent implementation of a new flood check form, flood changes included in the CFPB’s mortgage servicing rules, and the promulgation of the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters). The National Flood …

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Credit Reporting Compliance

The comments about credit reporting at your next examination may come as a surprise. It’s something that most of us don’t think that much about, especially considering the heavy hitting issues of TRID, HMDA, and UDAAP. Think the Consumer Financial Protection Bureau (CFPB) and other federal bank regulators aren’t thinking …

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TRID, Revisited with Richard Horn

If there’s one man to take the credit—or blame- depending on your feelings for TRID, it’s Richard Horn. Currently the head of his own law office, Horn was senior counsel and special advisor at the Consumer Financial Protection Bureau (CFPB) at the time TRID was formulated, and he led the …

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Fair Credit Reporting Act

The Fair Credit Reporting Act (FCRA) was enacted in 1970 and was administered by the Federal Reserve Board until 2011 when rulemaking authority for it and several other federal consumer protection regulations were transferred to the Consumer Financial Protection Bureau (CFPB) by the Dodd-Frank Wall Street Reform and Consumer Protection …

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Keep Calm And Compliance On

By Ben Wu Everyone is familiar with “Keep Calm And Carry On,” the motivational poster produced by the British government in 1939 to steady the morale of the British people during World War II. Today, it seems the mortgage industry needs to keep this advice in mind as we continue …

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Recap of the 9th Annual NMLS Conference & Training

By Melissa Washington Every year since 2008, there is a rare opportunity that provides the mortgage industry, as well as other non-depository industries and their regulators, with the chance to have open discussions regarding regulatory and NMLS-related issues and concerns. The 9th Annual NMLS Conference & Training, which took place …

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