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Volume 25 - Number 3

February 3, 2014

No Need to Reinvent the Wheel To Comply with New Disclosures

As mortgage lenders begin preparing for the new mortgage disclosure regime being instituted by the CFPB’s final rule, they should revisit lessons learned during their previous adventures with the Truth in Lending Act and the Real Estate Settlement Procedures Act. “RESPA reform from January 1, 2010, is still close in many of our minds, and we remember back to ’09 being a year that we spent a massive amount of time implementing that new regulation,” said Amy Thoreson Long, senior counsel in the consumer lending division at Wells Fargo. Then in 2010...

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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.