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April 4, 2014

Want to Avoid Problems with the CFPB? Have a ‘Robust’ Compliance System

By Thomas Ressler

Mortgage bankers have been complaining loudly about escalating compliance costs since the CFPB opened its doors in 2011. Some smaller nonbanks have cited those rising costs as one reason they might be forced to merge with better capitalized institutions.

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The year is almost 75% done. How is mortgage origination volume at your shop?

We will fund about the same as we did in 2016.
We will fund more than last year – by a little.
We will fund more than last year – by a lot.
We will fund less than last year – by a little.
We will fund less than last year – by a lot.

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