Skip to main content

AllRegs Looking to Educate the Public on CFPB Rules

NationalMortgageProfessional.com
Nov 27, 2013

AllRegs has announced the availability of financial education that may help mortgage lenders meet requirements as identified by the Consumer Financial Protection Bureau (CFPB). As part of best practices, a mortgage lender should be supporting consumers with understanding the path to homeownership, as well as providing expertise and knowledge with regard to maintaining a home throughout the length of the mortgage. This knowledge includes things like how to make and stick to a budget, the impact of credit scores, defining the industry players that they will meet, and the mortgage process itself. In addition, it is important that consumers be made aware of how to avoid predatory scams and to know their consumer rights. "At AllRegs, we believe that consumer training is a key piece of any lender Compliance Management System," said Dan Thoms, executive vice president of AllRegs. "Financial education is a key component of any lender program to support the consumer's protection in financial decisions. Lenders can now seize the opportunity to provide this turnkey financial education to their consumers and meet CFPB requirements." To support these best practices, AllRegs now offers online financial education courses that any mortgage lender can make available to their consumers, members, borrowers, and potential borrowers. Mortgage lenders can seamlessly make this homeownership training curriculum available to consumers on their websites. Courses are approximately one-hour in length with over 22 course titles to choose from.  
Published
Nov 27, 2013
Feds Reviewing Appraisal Standards, Qualifications

Appraisal Subcommittee said requirements are being reviewed to determine whether they ensure and promote fairness, equity, objectivity, and diversity, in both appraisals and in the training and credentialing of appraisers.

Regulation and Compliance
Oct 20, 2021
​​​​​​​FHFA OK's Desktop Appraisals, Expands Refi Criteria

The Federal Housing Finance Agency (FHFA) said Monday it will take two steps to help make home ownership more affordable and sustainable for mortgage borrowers, especially for those in underserved communities. 

Regulation and Compliance
Oct 19, 2021
CFPB Names 4 To Key Senior Positions

The appointees include two who helped create the bureau and two who served on the CFPB staff during the Obama administration.

Regulation and Compliance
Oct 14, 2021
FHFA Raises Enterprises' Multifamily Loan Purchase Caps

The Federal Housing Finance Agency (FHFA) said the 2022 multifamily loan purchase caps will be $78 billion for each Enterprise, for a combined total of $156 billion to support the multifamily market.

Regulation and Compliance
Oct 13, 2021
CFPB Hits AAG With Complaint For Deceptive Marketing Of Reverse Mortgages

The Consumer Financial Protection Bureau filed a complaint and proposed consent order, which alleges that American Advisors Group (AAG) used inflated and deceptive home estimates to attract reverse mortgage consumers.

Regulation and Compliance
Oct 12, 2021
Waterstone Mortgage Names VP Of Compliance

Waterstone Mortgage Corporation named Kris Barros as the company's vice president of compliance.

Community
Oct 08, 2021