Skip to main content

NAMB Applauds CFPB Announcement on TRID Enforcement

NationalMortgageProfessional.com
Jun 03, 2015

NAMB—The Association of Mortgage Professionals, has tirelessly advocated for a delay in the Aug. 1, TRID enforcement deadlines. A disruption of the homebuying process during one of the busiest times of the home purchasing cycle would hurt consumers, mortgage professionals, and the U.S. economy. NAMB has learned that requests by fellow housing industry leaders have been heard and the CFPB is now willing to be sensitive to industry concerns. 

"We very much appreciate the acknowledgement by Director Cordray that the Aug. 1 deadline is problematic and encourage him to take the definitive step of granting a "bright line, hold harmless period" for the mortgage industry while his agency determines whether their regulatory scheme is, in fact, workable," said John Councilman, president of NAMB.  

On June 3, 2015, Director Cordray sent a letter to Congress explaining that the CFPB and other regulators "will be sensitive to the progress made by those entities that have squarely focused on making good-faith efforts to come into compliance with the rule in time".

NAMB's written testimony on "TILA-RESPA Integrated Disclosure: Examining the Costs and Benefits of Changes to the Real Estate Settlement Process" Before the Committee on Financial Services Subcommittee on Housing and Finance can be found here.

Texas State Legislators Looks To Protect Reverse Mortgage Borrowers

A Texas House Bill has been introduced to prevent false, misleading or deceptive advertising by reverse mortgage lenders.

Reverse
Jun 02, 2021
Could Prudential Standards for Nonbank Mortgage Servicers be Eased?

From The Desk Of The “Om-Bobs-Man”

Regulation and Compliance
May 31, 2021
Get Ready to Duck and Cover

After years of hands-off attitude by regulators, a new wave of mortgage enforcement is building. Expect a tsunami.

Regulation and Compliance
May 13, 2021
Popular
Mike Eshelman
Operations
Jun 01, 2021
Two women having a conversation
Career
May 27, 2021