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Insight

CFPB Bulletin Re-Emphasizes Focus on Mortgage Servicing Transfers

by Clinton Rockwell, Jeremiah Buckley, Joseph Kolar, John Kromer, Christopher Witeck, Jon Langlois and Jeffrey Naimon
August.21.2014

On August 19, 2014, the CFPB issued Bulletin 2014-01 to address “potential risks to consumers that may arise in connection with transfers of ...

Insight

CFPB Issues Guidance on Supervision and Enforcement of Mini-Correspondent Lenders

July.10.2014

This afternoon, the CFPB issued policy guidance on supervision and enforcement considerations relevant to mortgage brokers transitioning to ...

Insight

CFPB Guidance States That Successors Are Not Subject to the ATR/QM Rule

by Clinton Rockwell, Jeremiah Buckley, Joseph Kolar, John Kromer and Jeffrey Naimon
July.09.2014

On July 8, 2014, the CFPB issued an interpretive rule stating that the addition of a successor as an obligor on a mortgage does not trigger the ...

Insight

Procedural Protections for Individuals in Financial Enforcement Actions

by Jeremiah Buckley
16 minute read | June.06.2014

In the five years since the financial crisis began, critics have argued that regulators aren’t doing enough to hold individual actors accountable for ...

Insight

VA Adopts Its QM Rule

by Clinton Rockwell, Jeremiah Buckley, Joseph Kolar, John Kromer and Jeffrey Naimon
May.16.2014

On May 9, 2014, the Department of Veterans Affairs (the “VA”) issued an interim final rule defining what constitutes a “qualified mortgage” (“QM”) ...

Insight

CFPB Proposes Amendments to Mortgage Rules

by Clinton Rockwell, Jeremiah Buckley, Joseph Kolar, John Kromer and Jeffrey Naimon
May.01.2014

On April 30, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed targeted amendments to the Dodd-Frank Act mortgage rules that took ...

Insight

What Regulators Must Consider Before Punishing Individual Bankers

by Jeremiah Buckley
4 minute read | April.28.2014

“Why aren’t we holding the individuals responsible for the financial crisis accountable?” It is a question that has been repeated so many times over ...

Insight

HUD Adopts Its Own QM Rule

by Clinton Rockwell, Jeremiah Buckley, Joseph Kolar, John Kromer and Jeffrey Naimon
December.17.2013

On December 11, 2013, the Department of Housing and Urban Development (“HUD”) issued a final rule defining what constitutes a “qualified mortgage” ...

Insight

CFPB Finalizes Rule Combining TILA and RESPA Mortgage Disclosures

by Clinton Rockwell, Jeremiah Buckley, Joseph Kolar, John Kromer and Jeffrey Naimon
December.02.2013

UPDATED OCTOBER 15, 2014: Updated to reflect amendments proposed by the CFPB on October 10, 2014. On November 20, 2013, the CFPB finalized its ...

Insight

HUD Proposes Its Own QM Rule

by Clinton Rockwell, Jeremiah Buckley, Joseph Kolar, John Kromer and Jeffrey Naimon
October.02.2013

On September 27, 2013, the Department of Housing and Urban Development (“HUD”) released a proposal defining what constitutes a “qualified mortgage” ...

Insight

CFPB Finalizes Additional Amendments to the 2013 Mortgage Rules

September.18.2013

On September 13, 2013, the Consumer Financial Protection Bureau (“CFPB”) finalized another set of amendments (the “Amendments”) to its January 2013 ...

Insight

Help the Fed Get Out of the Mortgage Business

by Jeremiah Buckley
2 minute read | May.07.2013

In 2008, when our nation's housing finance system imploded, the Federal Reserve was forced to step in as "lender of last resort" to America's ...