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Regulatory Compliance

Consumer Financial Protection Bureau Makes Key Senior Leadership Changes

The Consumer Financial Protection Bureau (CFPB) has announced leadership moves for the deputy director, associate director for consumer education and external affairs, chief of...

LBA Ware Hires Compliance Software Expert Lyndal McLaughlin

Lyndal McLaughlin has joined mortgage software firm LBA Ware as a software implementation consultant. McLaughlin has over 30 years’ experience in the mortgage industry. She...

ACES: Rate of Critical Defects in Closed Mortgages Fell Again in Q1

The rate of critical defects in mortgage loans post-closing fell to 2.01% in the the first quarter, down from 2.09% in the fourth quarter...

Knowledge Coop Hires Brian Paine as Director of Technology

Brian Paine has joined Knowledge Coop, which offers compliance training to the mortgage industry, as director of technology. Paine comes to Knowledge Coop after spending...

FHFA Chooses Phyllis K. Fong as Acting Inspector General

The Federal Housing Finance Agency (FHFA) has named Phyllis K. Fong as its acting inspector general. She will continue to serve as the inspector...

MISMO Explores Market Need and Standards for ESG Initiatives

MISMO, the real estate finance industry's standards organization, is creating a new Community of Practice (CoP) focused on exploring potential standards for Environmental, Social...

Goldman Sachs Completes Consumer-Relief Obligation Stemming from Settlement

Goldman Sachs has successfully completed its $1.8 billion consumer-relief obligation under the 2016 settlement agreements with the U.S. Department of Justice and three states,...

Covius Holdings Hires Tom Coffey as VP of Business Development for Clayton Unit

Tom Coffey has re-joined Covius Holdings Inc., a provider of technology-enabled solutions to the financial services industry, to serve as vice president of business...

Biden Administration Fires FHFA Director Calabria Following SCOTUS Ruling

The White House on Wednesday ousted Mark Calabria as director of the Federal Housing Finance Agency (FHFA), which regulates Fannie Mae and Freddie Mac,...

Ncontracts Hires Rafael DeLeon, Formerly with OCC, as SVP of Industry Engagement

Office of the Comptroller of the Currency (OCC) veteran Rafael (Ralph) DeLeon has joined Ncontracts, a provider of integrated risk management and lending compliance solutions...

Plaza Home Mortgage Hires Erik Knight as SVP, Risk Management and Compliance

Erik Knight has joined Plaza Home Mortgage, a wholesale and correspondent mortgage lender, as senior vice president, risk management and compliance. Knight has more than...

CFPB Delays Compliance Date for General Qualified Mortgage Final Rule

The Consumer Financial Protection Bureau (CFPB) has formally delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1,...
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Rate of Defects in Mortgage Applications Jumped in Q3 Due to Surging Purchases

Due to increasing purchase volume, the rate of critical defects in mortgage applications increased 25% in the third quarter of 2020 compared with the...
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CFPB Delays Compliance Date for General QM Rule

The Consumer Financial Protection Bureau (CFPB) has delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1 to...

Clinton Jones to Assume General Counsel Role at FHFA

The Federal Housing Finance Agency (FHFA) says Clinton Jones has succeeded Alfred Pollard as the agency’s new general counsel. Pollard is retiring from the FHFA...

ACES Quality Management Hires Amanda Phillips as EVP of Compliance

Amanda Phillips has joined ACES Quality Management (ACES) as executive vice president of compliance. Phillips most recently served as of counsel with Ballard Spahr, LLP,...

LoanLogics Launches New Tool to Help Lenders With HMDA Compliance

LoanLogics has launched a new tool that helps mortgage lenders more easily analyze HMDA data for compliance with mortgage industry regulations and quickly identify...

CFPB Launches Complaint Against 1st Alliance Lending

1st Alliance Lending, along with its executives, John Christopher DiIorio, Kevin Robert St. Lawrence, and Socrates Aramburu, are facing a complaint from the CFPB...

CFPB Updates Qualified Mortgage Rule

The Consumer Financial Protection Bureau (CFPB) has finalized two rules that will replace its Qualified Mortgage (QM) rule. The first rule, the General QM Final...

Mr. Cooper in Hot Water with the CFPB

The Consumer Financial Protection Bureau (CFPB) has filed a complaint and proposed a stipulated judgment and order against Nationstar Mortgage LLC, which does business...