SoftPro Current is a blog created by the experts at SoftPro to provide up-to-date information on the ebb and flow of the closing and title industry. Whether it's regulatory changes or other important industry topics, SoftPro is your partner and will work alongside you to help make sense of everything.
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- The new CFPB amendments and how they affect your SoftPro software
- CFPB TRID Amendments: what do they mean for the title and closing industry?
- The CFPB released the final TRID amendments intended to provide more clarity and preserve protections for consumers
- NC is at the forefront of first-ever eClosing and plans to make it new standard in state
- Did you know? Indiana joined states with predictable recording fees.
Tag Archives: Rulemaking
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
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
While the CFPB still has not released any updates to TRID it looks like when they do it won’t include changes to the title insurance premiums disclosure rules. In a recent July 14th letter, Director Cordray said that fixing the … Continue reading
With investors worried about the consequence of errors on the CDF it is expected that the CFPB will address the secondary market concerns in their clarifications expected this July. To read more click below. http://www.nationalmortgagenews.com/news/compliance-regulation/cfpb-clarity-on-investors-trid-liability-could-thaw-secondary-market-1079681-1.html
Seven months after the implementation of the CFPB’s TILA-RESPA Integrated Disclosure (TRID) rule, the bureau announced a notice of proposed rulemaking expected to be released by late July. The new rulemaking, would incorporate some of the bureau’s existing informal guidance from their … Continue reading
This Thursday, April 7th at 10:00 am EST, Director Cordray will testify before the Senate Banking Committee in a session called “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.” Use this link to access the live webcast on Thursday, April 7th at 10:00 … Continue reading
According to the 7th volume of the CFPB Monthly complaint report for December 2015 released on Thursday, the bureau has received 790,000 complaints since opening it’s doors in 2011. Of the 790,000 complaints 209,618 of them were specific to mortgages. Click on the link … Continue reading
Good news for the real estate industry. RealyTrac reported that default notices, scheduled auctions and bank repossessions were reported on 1,083,572 U.S. properties in 2015, the lowest annual total since 2006, when there were 717,522 properties with foreclosure filings nationwide. “In … Continue reading
Interesting article on enforcement actions from the CFPB in 2015. What does this mean for 2016? CFPB Doubles Enforcement Actions in 2015
Earlier this week, the CFPB issued a “fact sheet” regarding construction loans under TRID. You can find it here: http://files.consumerfinance.gov/f/201601_cfpb_know-before-you-owe-mortgage-disclosures-and-construction-loans.pdf This fact sheet does not provide any new information regarding completion of the TRID disclosures for construction loans rather … Continue reading