In Georgia, investors who hold mortgages set for quick securitization will be exempted from the licensing requirements if they hold the loans for 14 or fewer days.

During hearings last week in Congress, CFPB Director Rohit Chopra addressed a number of issues involving the mortgage market.

CFPB Director Rohit Chopra said he believes the agency’s funding is in compliance with the appropriations clause.

Senate Republicans last week introduced legislation that would require the CFPB’s funding to be subject to the appropriations process in Congress.

The CFPB plans to finalize its personal financial data rights rule this October, Director Rohit Chopra informed lawmakers on Capitol Hill last week. He also highlighted the need for more oversight of technology companies.

The ABA is expecting the CFPB to finalize two rules — one on overdraft fees and another on nonsufficient funds fees — within the next few months.

Pete Mills, a senior vice president at the Mortgage Bankers Association, said the registry is an “unnecessary and redundant move.” The final rule requires nonbanks to report to the CFPB any government or court orders penalizing them for violations of consumer protection laws.

The new dataset will standardize the exchange of information used by state and other regulators for mortgage exams.

A new circular expands on previous CFPB actions to protect consumer rights involving contract terms.

The proposed rule is the first of more amendments to the Fair Credit Reporting Act by the bureau, according to industry attorneys.