Compliance

Republican leaders in Congress are calling on Federal Reserve Chairwoman Janet Yellen
Republican leaders in Congress are calling on Federal Reserve Chairwoman Janet Yellen to hold off implementing new rules until President Trump fills the vacancy for the central bank’s vice chairman for supervision.   According to a Bloomberg report, Rep. Jeb Hensarling (R-TX), chairman of the House... Keep Reading....
Question: Have there been any recent changes or developments concerning Testing and Education Requirements for non-bank Mortgage Loan Originators?   Answer  At the recent NMLS Annual Conference held in Austin, TX, I attended a break-out session conducted by SRR officials Pete Marks and Rich Madison... more
The Consumer Financial Protection Bureau (CFPB) has charged Prospect Mortgage LLC with paying illegal kickbacks for mortgage business referrals and ordered it to pay a $3.5 million civil penalty
Another bill has been introduced into the U.S. Senate that challenges the current state of the Consumer Financial Protection Bureau (CFPB).   Sen. Mike Rounds (R-SD), a member of the Senate Banking Committee, introduced legislation to eliminate the CFPB’s funding stream from the Federal Reserve.... more
Ocwen Financial Corp. has reached a settlement with the California Department of Business to in which the company’s servicing unit will pay $25 million and provide another $198 million in debt forgiveness to resolve charges that Ocwen ran afoul of federal and state laws regarding borrowers' rights... more
The Consumer Financial Protection Bureau (CFPB) scored another victory in court, this time in a case regarding its authority to issue a subpoena in a housing finance investigation.   According to a New York Times report, Judge Nancy G. Edmunds of Federal District Court in Detroit ruled that Harbour... more