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Volume 29 - Number 16

August 6, 2018

CFPB Active Again in Enforcement Actions, But With New Tactics

The CFPB has been accelerating its enforcement actions in the past two months, and attorneys said Acting CFPB Director Mick Mulvaney is now defending the bureau’s enforcement power, with a new strategy and focus. “The enforcement actions are being announced more frequently now,” said Allen Denson, partner at Hudson Cook. “I expect the steady clip of settlements we’ve seen over the last two months to continue.” After Mulvaney took the reins at the ...

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Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.

35%

The wholesale/table funder. They’re taking the financial risk.

30%

The broker, but only for the first year. After that, the borrower is fair game.

13%

Hard to answer. It’s a complicated issue.

22%