Category Archives: CFPB

The new CFPB amendments and how they affect your SoftPro software

As you may know, the Consumer Financial Protection Bureau (CFPB) recently finalized updates to its “Know Before You Owe” mortgage disclosure rule on July 7. For a full summary of the final amendments from the CFPB, click here. While the … Continue reading

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The CFPB released the final TRID amendments intended to provide more clarity and preserve protections for consumers

On July 7, the Consumer Financial Protection Bureau (CFPB) finalized updates to its “Know Before You Owe” mortgage disclosure rule with amendments that are intended to formalize guidance in the rule, and provide greater clarity and certainty. The changes will … Continue reading

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Did you know that CFPB proposes new changes to HMDA?

According to Housing Wire, the Consumer Financial Protection Bureau issued a much-asked-for proposal to clarify the 2015 updates to the Home Mortgage Disclosure Act rule, in order to help ensure industry compliance, according to the national regulator. The bureau first … Continue reading

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CFPB to defend constitutionality to full court

The CFPB appealed the October ruling in which a 3 judge panel ruled in favor of PHH.  The CFPB asked the court to rehear the case en banc, meaning the entire court would hear the case, rather than the three judges who initially presided over the … Continue reading

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What is the future of the CFPB?

In a memo leaked by Rep. Hensarling it look as if the republicans are looking to substantially change the structure of the C.F.P.B. and limit the scope of its authority.  While it is unlikely that the republicans would be able to repeal … Continue reading

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Democrats say No and Republicans say Yes to removing Director Cordray

A group of 21 Democrats in the U.S. House of Representatives has written a letter to President-elect Donald Trump asking him not to remove Richard Cordray as Director of the Consumer Financial Protection Bureau.  Meanwhile, republican senators Ben Sasse of … Continue reading

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CFPB announces leadership changes

With less than two weeks before Donald Trump’s inauguration, the Consumer Financial Protection Bureau has released five changes to its senior leadership lineup.  This leadership changeup comes at a time of uncertainty as the CFPB faces an unknown future under a Trump administration. … Continue reading

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How will the outcome of the election affect housing reform?

No one knows…not really.  President-elect Donald Trump didn’t say much over the past 18 months regarding the mortgage industry and housing reform.  What this means is we don’t really know what to expect.  We do know that the GOP has control … Continue reading

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CFPB creates guide for the settlement agent

The CFPB created a resource for settlement agents called “The Settlement Professional’s Guide”. This guide was designed to help settlement professionals navigate through TRID. It highlights what hasn’t changed, what has changed and how to move through a transaction under … Continue reading

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Highlights from the proposed TRID amendments

Recently the CFPB released proposed amendments to TRID. While the majority of the 293 page document consisted of clarification on existing TRID rules and regulations within the Final Rule there were also some notable sections that stood out: The first … Continue reading

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