Regulation and Compliance
Coming Up:
FDIC Chairman Submits Resignation
Departure of Trump-appointed Jelena McWilliams next month expected to lead to stricter regulation as Democrats assert control.
CFPB Cracks Down On LendUp For 'Lying And Illegally Cheating Customers'
The Consumer Financial Protection Bureau forced VC-backed fintech lender, LendUp, to halt making any new loans and collection on certain outstanding loans, as well as to pay a penalty to resolve a Sept. 2021 lawsuit.
Feds: Landlords, Servicers Must Obey Military, Vets' Rights
CFPB, DOJ send joint letters to remind landlords & mortgage servicers to adhere to the CARES Act and additional legal requirements under the Servicemembers Civil Relief Act.
Compliance in 2022
"Compliance” may yet again become the buzzword of 2022
MORTGAGE WOMEN
The Fed Hits The Brakes
Economists not surprised by Federal Reserve's plan to end bond & MBS purchases early in 2022 and boost rates in bid to tame inflation.
Lenders Must Prepare For Cybersecurity Audits
'As a lender you are responsible to regulators for your vendor’s adhering to regulations.' - Rob Chrisman
MBA, USMI Endorse Thompson As Next FHFA Director
Currently acting director, Thompson was formally nominated to the post by President Biden on Tuesday.
Goodbye LIBOR, Hello SOFR
The FHFA will facilitate the transition away from LIBOR to the Secured Overnight Financing Rate (SOFR).
CFPB Highlights 'Wide-Ranging' Violations Of Law In 2021
The Consumer Financial Protection Bureau shared its latest Supervisory Highlights report which found a wide range of violations of law in 2021, including mortgage servicing and fair lending.
The Twelve Days of Renewals
The 2021 Renewal season brought no holiday joy to either regulator or industry users
Mortgage Banker