Advanced Search

Volume 25 - Number 9

April 28, 2014

Worth Noting/What We’re Hearing/Looking Ahead

CFPB Staff Answer Bankers’ Questions on Mortgage Compliance. CFPB staff members answered mortgage compliance questions from members of the American Bankers Association during a live webcast last week. Among the key take-aways was the statement that creditors may use lender and seller credits to reduce the amounts that are calculated into the points-and-fees test. A written statement of who is providing which credits is sufficient to indicate compliance, a CFPB staffer said. Also, home equity line of credit resets do not constitute new transactions that would trigger full ability-to-repay rule underwriting. Another take-away is that loan originator bonuses deriving from funds that exclude mortgage profits are not subject to the otherwise applicable 10 percent limits on loan originator compensation. Regarding...

Subscribers to Inside the CFPB have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.

Subscriber Log In

If you are a current subscriber or already purchased this article, please login below.

Forgot your password?

Already subscribe but haven't registered for all the benefits of the website?


This biweekly keeps mortgage executives on top of the onslaught of new legal and regulatory issues the industry has been seeing.



How many new retail loan officers (net) is your shop looking to hire in the first quarter of 2018?

1 to 10. We’re being careful.
11 to 30. We’re feeling slightly bullish.
31 or more. We’re in expansion mode.
None. We’re staying right where we are, for now.
We’re cutting back.

vote to see results