Compliance

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.... Keep Reading....
Sen. Harry Reid (D-NV) has looked into the future and does not see Sen. Elizabeth Warren (D-MA) as a viable candidate for the Democratic Party’s presidential nomination in 2020
In what could charitably be described as the least surprising political news of the day, Sen. Elizabeth Warren (D-MA) greeted President Donald Trump’s choice of Neil Gorusch for the U.S. Supreme Court with an immediate denunciation. In a statement issued 90 minutes after the President’s... 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
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.   According to the CFPB, Prospect maintained various agreements with over 100 real estate brokers that... more
President Donald Trump’s choice of former bank executive Steven Mnuchin to become the next Secretary of the Treasury was put on hold as the Democratic members of the U.S. Senate Finance Committee boycotted today’s scheduled vote on his nomination.   According to a Washington Post report, none of... more
While the first days of the Trump Administration have been focused on a myriad of domestic and global issues, the Mortgage Bankers Association (MBA) has offered a reminder that the fate of the government-sponsored enterprises (GSEs) remains in limbo.   Today, the MBA issued a paper detailing its... more