New Scrutiny: Nonbank Supervision and Enforcement

Product Details

An Inside Mortgage Finance Webinar

Recorded June 24, 2014

The federal government’s regulation of nonbank mortgage lenders and servicers is so new that much is still being learned about how the Consumer Financial Protection Bureau will use the supervision and enforcement powers over nonbanks given to it by the Dodd-Frank Act. In addition, mortgage companies are facing unprecedented new scrutiny from state regulators – particularly as it involves servicing transfers, affiliate relationships, and consumer protections.

For non-depositories, this beefed up attention—not just to servicing, but for all mortgage functions—presents a whole new set of watchdogs and a whole new set of requirements to satisfy. For depositories, the challenge isn’t one of meeting new standards, but rather one of adapting to their effect on the mortgage market. Will the changes truly “level the playing field” or will they just present different challenges when competing against and working with or selling to nonbanks?

During the IMF webinar “New Scrutiny: Nonbank Supervision and Enforcement,” you'll learn more about current and future state and federal actions.

You’ll hear from:

• Ann Thompson, Senior Analyst, Office of Supervision Policy, Consumer Financial Protection Bureau

• Chuck Cross, Senior Vice President – Consumer Protection, Conference of State Bank Supervisors

• John Prendergast, Vice President – Non-Depository Supervision, Conference of State Bank Supervisors

• Nanci Weissgold, Partner, K&L Gates

During the 90-minute session, you’ll learn:

• What new state oversight lies ahead for nonbank mortgage lenders,

• How the CFPB is prioritizing its nonbank supervision,

• What types of regulation states may introduce to address nonbank mortgage servicer growth and risk,

• How the states and CFPB will coordinate nonbank supervision,

• How data from the Mortgage Call Report will shape nonbank regulation and supervision, and

• What mortgage activities are most likely to draw attention from state and federal regulators.