Revised Dollar Amount and Thresholds Under Federal High-Cost and Qualified Mortgage Provisions The Consumer Financial Protection Bureau (“CFPB”) issued a final rule amending the high-cost mortgage thresholds and the qualified mortgage thresholds in Regulation Z. The amendments are effective January…
News & Resources
Winter 2023-2024 States In Brief
Arizona The Arizona Department of Insurance and Financial Institutions adopted amendments to its regulations governing consumer loans, which are open and closed end loans of $10,000 or less. The amendments to the rule were effective October 7, 2023. Arizona passed…
Posted in Newsletters, States In Brief
Winter 2023-2024 “Talking The Talk”
Loretta Salzano and Jenny Dozier will be speaking on a variety of hot topics at conferences throughout the country. To find out more about where Loretta and Jenny will be speaking, please click on the Events tab at the top…
Posted in "Talking The Talk"/Conferences, Newsletters
Fall 2023 Hot Topics
Recent CFPB Activity In recent publications, the CFPB addressed my three favorite topics: 1. fair lending, 2. loan originator compensation, and RESPA Section 8. Read on for more, and reach out if we can help. Fair Lending In its Summer…
Fall 2023 Federal Highlights
ML 2023-13 – FHA Requires Supplemental Consumer Information Form On June 27, 2023, the U.S. Department of Housing and Urban Development (“HUD”) and Federal Housing Administration (“FHA”) published Mortgagee Letter 2023-13, Supplemental Consumer Information Form (“SCIF”), which requires a new…
Posted in Federal Highlights, Newsletters
Fall 2023 States In Brief
Arkansas Arkansas passed House Bill 1439, which clarifies the provisions relating to sponsorship of mortgage loan originators. House Bill 1439 was effective on July 30, 2023. Colorado The Governor of Colorado signed House Bill 1266, which requires a new disclosure…
Posted in Newsletters, States In Brief
Fall 2023 “Talking The Talk”
TALKING THE TALK” Loretta Salzano will be speaking on a variety of hot topics at conferences throughout the country. To find out more please click on the EVENTS tab at the top of the page.
Posted in "Talking The Talk"/Conferences, Newsletters
14.9 Waiver of Borrower’s Rights
14.9 Waiver of Borrower’s Rights If directed by the Lender, the borrower may execute a Waiver of Borrower’s Rights. (See Comment.) However, the absence of an executed waiver or its attachment to the security deed as recorded shall not invalidate…
Posted in Hot Topics
Summer 2023 Hot Topics
In May the Georgia Bar took action aimed at eliminating confusion regarding the Waiver of Borrower’s Rights – a customary Georgia closing document that the CFPB deemed prohibited by law. Revised Title Standard 14.9 makes clear that “the absence of…
Posted in Hot Topics, Newsletters
Summer 2023 Federal Highlights
CFPB Updates Agency Contact Information in Various Disclosures and Regulations On March 17, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued a Final Rule that makes non-substantive updates to the CFPB and other Federal agency contact information found in various…
Posted in Federal Highlights, Newsletters