Blog Archives

Spring-Summer 2018 Hot Topics – Georgia Minimum Wage Law

Are you complying with Georgia’s minimum wage law? Georgia’s minimum wage law requires employers to pay covered employees a minimum wage of not less than $5.15 for each hour worked. There is an exception for employers and employees subject to

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Spring-Summer 2018 Hot Topics – South Carolina Is “On The Prowl” Regarding Adherence To The Attorney-Insurance Preference Requirement!

Last year, the South Carolina Board of Financial Institutions, Consumer Finance Division issued guidance on the attorney-insurance preference disclosure. Creditors need to beware that the Department is “on the prowl” looking to enforce the requirement! For consumer purpose mortgage loans,

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Spring-Summer 2018 Hot Topics – Georgia’s Foreclosure Disclosure

Georgia licensees and registrants are required to provide to each applicant a foreclosure disclosure which explains that failure to meet conditions and terms of the loan may result in foreclosure. Georgia regulations provide that this disclosure requirement may be satisfied

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Winter 2017-2018 Hot Topics

Court Rules in Favor of Mulvaney at CFPB The U.S. District Court for the District of Columbia denied a preliminary injunction for Leandra English in her attempt to unseat President Trump’s OMB Director Mick Mulvaney as CFPB Acting Director. The

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Spring/Summer 2017 Hot Topics

RESPA Do’s and Don’ts The National Association of Realtors released its RESPA Do’s and Don’ts for Co-Marketing, Social Media, & Other Web-Based Marketing Tools. Real estate brokers and agents are subject to the Real Estate Settlement Procedures Act (RESPA) when

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Spring/Summer 2017 Hot Topics

CFPB Issues Final TRID Rule Amendments The CFPB has issued the final revisions to the TRID rule, along with a new proposal to address the black hole. Required for applications received on or after October 1, 2018, the new rule

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Spring/Summer 2017 Hot Topics

CFPB issues Arbitration Rule The CFPB has issued its final rule regarding the use of pre-dispute arbitration agreements in connection with certain consumer financial products and services. Generally, the rule prohibits arbitration clauses from barring a consumer from filing or

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Winter 2016-2017 Hot Topics

Feel like you’re in a shaken snow globe? So do we! February brought the worst “vacation” we’ve seen when the industry-favorable PHH decision was vacated. We’ll have to await the en banc review for a ruling on the CFPB’s constitutionality

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Fall 2016 From The Trenches

In its Fall Supervisory Highlights, the CFPB addressed its latest supervisory observations relative to mortgage origination and mortgage servicing. These are issues the CFPB has encountered during examinations, and are therefore areas to which mortgage lenders and servicers may wish

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Big Win for PHH in Case Against CFPB

The U.S. Court of Appeals for the DC Circuit has released its opinion in PHH’s case against the CFPB, and it’s a resounding win for PHH and the industry. In its 110-page opinion, the Court vacated the CFPB’s order against

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