Subscribe to the print edition of National Mortgage Professional MagazineSubscribe to our RSS feedFollow us on TwitterGet daily updates via emailJoin us on Facebook

Dodd-Frank Act

RESPA/TILA Integration Part I: Overview and Loan Estimate


This first of a four-part series will introduce the RESPA/TILA Integration and treat the numerous features of the Loan Estimate. In the second part of the series, I will detail the features of the Closing Disclosure. The third part will be a detailed analysis of the Loan Estimate. The fourth part will provide an in depth scrutiny of the Closing Disclosure.Click to continue

Community Banks Struggle Against Regulatory Burdens


Community banks did not cause the housing bubble, but they were nonetheless grouped with all lenders into absorbing the post-2008 regulatory burden placed on financial institutions by the Dodd-Frank Act and the Consumer Financial Protection Bureau (CFPB). And while the compliance requirements have taken a financial toll on these smaller institutions, they nonetheless persevere in pursuit of residential mortgage originations.Click to continue

Top Mortgage Executives Sound Off on the State of the Industry

Business Handshake/Credit: Creatas Images

This is the 12th time since 2008 that the Mortgage Bankers Association (MBA) Conference Survey Report & Scorecard survey of senior mortgage banking executives has been conducted and distributed. It is completed twice annually, at the MBA’s National Secondary Market Conference in May and at the MBA’s Annual Convention in October.Click to continue

CFPB Cautions Mortgage Brokers When Transitioning to Mini-Correspondent Lenders


The Consumer Financial Protection Bureau (CFPB) recently issued supervisory and enforcement guidance regarding concerns that some mortgage brokers may be transitioning, or restructuring their business, to a mini-correspondent lender model under the belief that doing so would automatically alter or exempt them from important consumer protections affecting mortgage broker compensation.Click to continue

Loan Officer Compensation Based on Referral Sources

Cash in Mailbox Pic

Question: Can an MLO be paid different compensation for “Self-Sourced” referrals (i.e., originated loans that the MLO obtained through his or her own relationships) and “Company-Sourced” referrals (i.e., originated loans from a source in which the company or an employee of the company other than the MLO has a relationship, such as loans sourced through lead agreements, market servicing agreements or joint marketing agreements)?Click to continue

The Interaction of Best Practices, Vetting and Insurance as the Ultimate Vendor Management Solution


In July, the Consumer Financial Protection Bureau (CFPB) entered into the first consent order affecting third-party service provider violations. ACE Cash Express Inc., a payday lender, agreed to pay $10 million to settle allegations of improper debt-collection activities.Click to continue

Regulators Target AMCs With Joint Proposed Rule

Appraisal Looking Glass Pic

A new regulation is slated to be implemented on appraisal management companies (AMCs) would be subject if, in a given year, it oversees an appraiser panel of more than 15 state-certified or state-licensed appraisers in a state, or 25 or more state-certified or state-licensed appraisers in two or more states.Click to continue