Recent CFPB Activity In recent publications, the CFPB addressed my three favorite topics: 1. fair lending, 2. loan originator compensation, and RESPA Section 8. Read on for more, and reach out if we can help. Fair Lending In its Summer…
News & Resources
Fall 2023 Federal Highlights
ML 2023-13 – FHA Requires Supplemental Consumer Information Form On June 27, 2023, the U.S. Department of Housing and Urban Development (“HUD”) and Federal Housing Administration (“FHA”) published Mortgagee Letter 2023-13, Supplemental Consumer Information Form (“SCIF”), which requires a new…
Posted in Federal Highlights, Newsletters
Fall 2023 States In Brief
Arkansas Arkansas passed House Bill 1439, which clarifies the provisions relating to sponsorship of mortgage loan originators. House Bill 1439 was effective on July 30, 2023. Colorado The Governor of Colorado signed House Bill 1266, which requires a new disclosure…
Posted in Newsletters, States In Brief
Fall 2023 “Talking The Talk”
TALKING THE TALK” Loretta Salzano will be speaking on a variety of hot topics at conferences throughout the country. To find out more please click on the EVENTS tab at the top of the page.
Posted in "Talking The Talk"/Conferences, Newsletters
14.9 Waiver of Borrower’s Rights
14.9 Waiver of Borrower’s Rights If directed by the Lender, the borrower may execute a Waiver of Borrower’s Rights. (See Comment.) However, the absence of an executed waiver or its attachment to the security deed as recorded shall not invalidate…
Posted in Hot Topics
Summer 2023 Hot Topics
In May the Georgia Bar took action aimed at eliminating confusion regarding the Waiver of Borrower’s Rights – a customary Georgia closing document that the CFPB deemed prohibited by law. Revised Title Standard 14.9 makes clear that “the absence of…
Posted in Hot Topics, Newsletters
Summer 2023 Federal Highlights
CFPB Updates Agency Contact Information in Various Disclosures and Regulations On March 17, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued a Final Rule that makes non-substantive updates to the CFPB and other Federal agency contact information found in various…
Posted in Federal Highlights, Newsletters
Summer 2023 States In Brief
Georgia – See Hot Topics! Maryland Effective March 1, 2023, the Maryland Commissioner of Financial Regulations adopted amendments to its regulations on the foreclosure process. Massachusetts On November 23, 2022, Massachusetts updated Regulatory Bulletin 1.3-104, which applies to Massachusetts’s subprime…
Posted in Newsletters, States In Brief
Summer 2023 “Talking The Talk”
Loretta Salzano will be speaking on a variety of hot topics at conferences throughout the country. To find out more, please click on the EVENTS tab at the top of the page.
Posted in "Talking The Talk"/Conferences, Newsletters
Spring 2023 Hot Topics
CFPB Weighs in on Mortgage Shopping Platforms (with broader implications) In February, the CFPB issued an Advisory Opinion regarding application of RESPA to “Digital Mortgage Comparison Shopping Platforms and Related Payments to Operators.” In refreshing HUD’s 1996 policy statement on…
Posted in Hot Topics, Newsletters