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....
In a somewhat surprising Facebook message, Sen. Elizabeth Warren (D-MA) sought to explain to her constituents why she voted yesterday to approve the nomination of Dr. Ben Carson as the next Secretary of Housing and Urban Development
In a somewhat surprising Facebook message, Sen. Elizabeth Warren (D-MA) sought to explain to her constituents why she voted yesterday to approve the nomination of Dr. Ben Carson as the next Secretary of Housing and Urban Development. The senator, who was a tireless critic of Donald Trump during the... more
The Director of the Consumer Financial Protection Bureau (CFPB) took a thinly veiled shot at the Trump Administration
The Director of the Consumer Financial Protection Bureau (CFPB) took a thinly veiled shot at the Trump Administration by stressing the independence of federal regulatory agencies, arguing they should exist outside partisan squabbling. According to a Los Angeles Times report, CFPB Director Richard... more
Comergence has been chosen by FundLoans.com to implement a secure and streamlined solution to manage their newly created wholesale channel for third-party originator oversight. FundLoans.com has existing operations servicing Florida and the Western United States and is solely focused on jumbo non-... more
MERSCORP Holdings Inc. is claiming victory following a pair of court rulings that stated its subsidiary, Mortgage Electronic Registration Systems Inc. (MERS), was entitled to notice under California law. In the cases Mortgage Elec. Registration Sys. Inc., et al v. Johnston, and Mortgage Elec.... more