They’re at it again! This week the CFPB announced a Consent Order with NewDay Financial for alleged RESPA violations and deceptive practices due to NewDay’s marketing and lead buying activities. The CFPB found that NewDay entered into a marketing arrangement…
Yearly Archives: 2015
Winter 2015 Announcements
Please welcome our new associate, Eric A. Deutsch, to the firm! Eric practices in both the firm’s consumer lending regulatory compliance and civil litigation areas. A recipient of the Isaac Bashevis Singer Scholarship and an Edward T. Foote Fellow, Eric…
Posted in Announcements, Newsletters
Winter 2015 Announcements
We are proud to announce that Sharmin Arefin is the current Chairperson of the Automotive Resource Network (ARN) Auto Dealership Committee. ARN is a membership organization of automotive professionals. Its mission is to drive automotive excellence and foster the development…
Posted in Announcements, Newsletters
ComplyShare’s Comprehensive Compliance Manuals Are Now Available!
Need a compliance policy but not sure where to start? Or, does yours need a face lift? Whether you’re a bank or an independent mortgage company, ComplyShare has the tool for you! ComplyShare offers a Mortgage Lending Policy Manual and…
Posted in Announcements, Resources Links
Winter 2015 Hot Topics
The National Association of Realtors® recently published the following guidance regarding Marketing Services Agreements: RESPA DO’S FOR MSAs Real estate brokers and agents must comply with the Real Estate Settlement Procedures Act, or RESPA, which prohibits brokers and agents from…
Posted in Hot Topics, Newsletters
Winter 2015 Federal Highlights
CFPB Bulletin – Social Security Disability Income Verification The CFPB issued a compliance bulletin regarding the obligations of creditors under the Equal Credit Opportunity Act and Regulation B (together, “ECOA”) regarding the consideration of public assistance income and relevant standards…
Posted in Federal Highlights, Newsletters
Winter 2015 Multi-State Legislation
Updated NMLS Call Reports NMLS Release 2015.1 The Nationwide Mortgage Licensing System & Registry (“NMLS”) is updating the Mortgage Call Report (“MCR”), which state-licensed entities use to report quarterly residential mortgage loan activity data and annual data regarding financial condition…
Posted in Newsletters
Winter 2015 States In Brief
Connecticut Department of Banking Memo On October 1, 2014, the Commissioner of the Connecticut Department of Banking clarified its mortgage servicer licensing requirements. Both purchasers of mortgage servicing rights and purchasers of mortgage loans who hire licensed mortgage servicers to…
Posted in Newsletters, States In Brief
Winter 2015 “Talking The Talk”
Terry Franzén will be speaking at the following events: January 29-30, ACI’s Consumer Finance Class Actions and Litigation Conference, New York City; Topic: Student and Auto Loans, the Rise in Enforcement and Litigation by the CFPB, Disparate Impact Claims, and…
Posted in "Talking The Talk"/Conferences, Newsletters
Invitation to Attend MBAG’s Education & Trade Show, and CBANC’s TRID Webinar
Please join us at MBAG’s Broker/Lender Education & Trade Show this Thursday, January 22, 2015 at the Cobb Energy Performing Arts Centre in Atlanta. Loretta Salzano will be among the presenters at three of the four sessions. Hot topics will…
Posted in "Talking The Talk"/Conferences