The CFPB also found that some banks used employees from a staffing agency who were not properly registered or licensed...

The research firm also cites what it calls a “lack of transparency regarding fundamental business and accounting drivers”…

In an interview with IMFnews, Freddie CEO Don Layton defended the GSE’s move toward automated appraisals…

The sale was brokered by investment banker Houlihan Lokey.

Earlier in the year, the IRS said it planned to strengthen the protections for e-services accounts by requiring a stronger identity verification process for existing and new accounts.

Are nonbanks 'shadow' institutions, and if so, is that a bad thing?

One observer called the change “huge.”

Top mortgage industry representatives urged the CFPB to do more to facilitate the curing of loans with errors under the agency’s controversial Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure rule, otherwise known as TRID. One such organization was the Housing Policy Council of the Financial Services Roundtable. In its comment letter to the CFPB, the HPC said providing more formal guidance on when and how lenders may correct or cure errors is not just a question of potential liability for lenders; it’s also important in reducing the uncertainty of customers if they experience varying interpretations by different lenders. “We recognize that it is difficult to anticipate all types of potential errors in advance,” said the HPC. “There ...

In the weeks leading up to the effective date of the CFPB’s integrated disclosure rule, the agency’s director, Richard Cordray, made clear that, from a supervisory perspective, the bureau would view enforcement of the rule as more diagnostic than punitive – an approach many industry officials believe should continue. In commenting on the CFPB’s proposed rule to clarify a number of aspects of TRID, the Mortgage Bankers Association strongly urged the current diagnostic examination approach be formally extended until the changes necessitated by a final rule have been fully implemented and it is clear that the compliance difficulties with such a complex rule have been largely resolved. “With this policy and the bureau’s and industry’s active engagement as compliance moves forward ...

Many elements of the mortgage finance industry took up the primary concern that real estate agents have had with the CFPB’s integrated disclosure rule since it first took effect: the sharing of the closing disclosure with third parties. In their recent comments to the bureau on its TRID clarifying proposal, multiple industry players said they were glad to see the agency addressed this issue somewhat; however, more must be done. The National Association of Realtors, for instance, told the bureau that one of the unintended consequences of the integrated disclosure rule has been lenders’ reluctance to share the new required CD with real estate professionals out of fear of liability for disclosing clients’ nonpublic personal information.“Regulation P, which governs ...