CFPB Update: What You Need to Know About the New Regulator

An Inside Mortgage Finance Webinar Held
Wednesday, July 27, 2011

Don’t miss this panel of industry experts as they discuss the “big picture” of the new CFPB’s responsibilities and priorities. More institutions will come under their supervision umbrella than may realize at this point. As they try to harmonize two mortgage disclosure documents—the TIL and the GFE—inquiring minds want to know if they are considering both lending and real estate disclosure demands.

Join us for the perspective across the industry to find out more about the importance of the QM rule to the CFPB and other significant implications that will affect you. You’ll better understand how the Consumer Financial Protection Bureau fits into the new regulatory scheme. 

While the mortgage industry supports clearer disclosures, the jury is still out on whether the CFPB’s new prototype "single integrated disclosure" forms really do the trick. Find out what additional new disclosures are in the works at the controversial bureau, and what it all could mean for various mortgage market players as well as what changes are being sought at a special Inside Mortgage Finance webinar  CFPB Update: What You Need to Know About the New Regulator. 

The legal experts at this webinar discussed what you should expect and what timelines you must follow to come into compliance. You’ll also learn the latest about other important changes mandated by Dodd-Frank.

These Experts Shared Their Insights and Answered Questions:

  • Steven M. Kaplan, Partner, K&L Gates, LLP
  • Donald C. Lampe, Partner, Womble Carlyle Sandridge & Rice PLLC
  • Kenneth R. Trepeta, Director of Real Estate Services, National Association of Realtors  
  • Guy D. Cecala, Publisher, Inside Mortgage Finance (moderator)

Issues addressed at the webinar:

  • The importance of the "Qualified Mortgage" rule.
  • Sections that are confusing or conflict with other legal or regulatory provisions.
  • “Harmonization” of TILA and RESPA or just another form?
  • Potential new areas of legal liability for lenders.
  • Fixed-rate loan and ARM disclosure components.
  • State laws that conflict with language and meaning.
  • What exactly can be included in “closing costs?”
  • Impact of CFPB ramp-up on timing of rulemaking — what to expect and when.
  • Forms the CFPB forms replace.
  • What parts of the forms are most important to buyers?
  • What are the technical problems with the proposed forms?
  • Does industry agree with the grouping of costs?
  • Just what does “amount of the loan paid off” mean?
  • Discrepancies between RESPA and TILA regarding timing and cost categories.
  • How disruptive will it be for lenders to implement more changes?
  • Other pending changes to disclosures under Dodd-Frank.
Conference CD and Manual - On Sale - $355.00
MP3 and Manual - $357.00

Please contact Customer Service if you need assistance: 1-800-570-5744


With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

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