Guide to Nonbank Supervision and Enforcement PDF Format
Thanks to the Dodd-Frank Act, nonbanks are subject to federal regulation from the Consumer Financial Protection Bureau. And that newly created federal regulator, armed with enormous powers, put home mortgages—and the nonbanks that make and service them—at the top of its rules and enforcement lists.
And while agency monitoring and state oversight are not new to nonbanks, what is new is the increased attention the nondepositories are getting from state regulators and the government-sponsored enterprises as mortgage activity increasingly shifts from banks to nonbanks. Servicing activities, in particular, have drawn a lot of heat.
The pumped up oversight, whether federal, state or agency, not only changes the game for nonbanks. It also forces a reset for anyone competing against, partnering with or transacting sales with nonbanks.
In the Guide to Nonbank Supervision and Enforcement, Inside Mortgage Finance explores all aspects of the regulation faced by nonbank lenders and servicers from the priorities of state regulators to how the CFPB directs its supervision efforts to emerging guidelines for nonbanks in the agency mortgage space.
Partial Table of Contents
Mortgage Call Reports
Information Sharing Between Regulators
Settlements with Servicers
Regulation Through Consent Orders
Possible State Initiatives on Capital Requirements
Trends in State Regulation
Affiliates and Conflicts of Interest
Force-Placed Insurance Issues
Consumer Financial Protection Bureau
Proposed Expansion of HMDA Data Collection
Plans for Handling Servicing Transfers
Operational Reviews of Nonbanks
Monitoring the Execution of Servicing Transfers
Understand how new oversight of nonbanks is remaking the mortgage business and your place in it.
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