The Mortgage Landscape: The Latest Look at the CFPB's Regulatory and Supervisory Agenda MP3 and Manual

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The transformation of the mortgage business is going full steam as the new regulator and enforcer on the block – Consumer Financial Protection Bureau – is rapidly approaching the Dodd-Frank Act-mandated deadlines for a host of major changes. There is uncertainty among mortgage industry players about exactly what depositories, nondepositories and third-party service providers will have to do to comply with new DFA requirements. Listen to this important webinar, which is centered on the upcoming regulatory changes and implementation of CFPB’s supervision program, to find out how the new rules, guidelines and procedures will affect you and your business.

The hottest topic of concern right now is the CFPB’s examination and supervision authority, not only of banks and credit unions but also of nonbanks. Moreover, service providers to banks and nonbanks need to pay close attention, as they too will be scrutinized in the process. CFPB examiners will be checking every type of loan file document imaginable, third-party contracts, procedures and practices, including advertising and marketing—all to decide whether there is risk to the consumer, which includes issues beyond check-the-box compliance.

Our expert panel discusses the single integrated disclosure, origination compensation and points, HMDA and the overall regulatory agenda.

Among the topics:

• Overview of the CFPB’s regulatory agenda

• What the CFPB is focusing on—other than QM

• Status of specific rulemakings

• How the Bureau is conducting risk assessments to select nonbanks for supervisory activity

• Next steps in the regulation of pricing and compensation

• When revised HMDA reporting is coming and expectations about fair lending compliance

• Supervision and examination– the new “risks to consumers” paradigm, how new UDAAP plays in

• How supervision will be coordinated between the state and the federal regulators

• The meaning of “compliance management systems” and what to do before the CFPB arrives

• What the regulator will be looking for in third party vendors and relationships

• Potential supervision “hotspots” – fair lending, management commitment and effective monitoring

• Confidentiality/concerns over collection and use of supervisory information by the CFPB and state authorities

• The single integrated disclosure forms (TILA and GFE) and regulations

Speakers:

• Allison I. Brown, Program Manager, Mortgage Supervision, Office of Nonbank Supervision, Division of Supervision, Fair Lending, and Enforcement, Consumer Financial Protection Bureau

• Steven M. Kaplan, Partner, K&L Gates

• Donald C. Lampe, Financial Services Regulatory and Compliance Practice Leader, Dykema