5 Take-aways from the CFPB’s recent HMDA report The CFPB’s or Consumer Financial Protection Bureau’s most recent release of data from the 2019 Home Mortgage Disclosure Act or HMDA submissions is both enlightening and perplexing. If you’re unfamiliar with the Home Mortgage Disclosure Act it was created in 1975
Unable to use the embedded player? Listen here. Show Summary Outside of lacking its own standing army, some argue that California is acting as an independent nation-state- that in the wake of several state mandates, some which directly contradict federal regulations. Well, the Golden State may be creating its own
Here are some reverse-mortgage related stories you may have missed...
Acting CFPB Director Mick Mulvaney said,“Regulation by enforcement is done. We’re not doing it anymore".
Good News for HECM, Not So Much for Housing Programs President Donald trump embodies the essence of a political wrecking ball in Washington D.C.- a city known to cling tightly to political traditions of governing and supporting long-standing social programs, despite our ballooning deficits. While the President weathers opposition from
This Week’s Top Reverse Mortgage Stories 1- CFPB Complaints on the Rise- The CFPB has been busy collecting consumer complaints. The Consumer Financial Protection Bureau reports an increase of 172% increase in reverse mortgage-related complaints since 2012. One could guess that much of this is due to increased consumer awareness of
Recent CFPB actions highlight the importance of compliant advertising and sales practices Since the founding of the CFPB (Consumer Financial Protection Bureau) in 2011, lenders have found themselves navigating the ever-changing waters of regulatory compliance. Reverse mortgage lenders have recently felt the impact of the agency with three lenders paying