Category Archives: CFPB

Need to Know: CFPB Consent Orders

On January 31, the Consumer Financial Protection Bureau (CFPB) announced that it entered into consent orders with a mortgage lender, mortgage servicer and two real estate brokers for violations of the Real Estate Settlement Procedures Act (RESPA). As part of … Continue reading

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Consumers stand to win big with proposed ‘Know Before You Owe’ rule

This past week, the National Association of REALTORS® announced that the Consumer Financial Protection Bureau has proposed a new rule that will benefit consumers, sellers and their agents in the closing process. In the announcement, NAR President Tom Salomone stated, … Continue reading

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CFPB announces changes to rural-or-underserved provisions

The Consumer Financial Protection Bureau (CFPB) issued a rule that expands eligibility for the special provisions allowing certain small creditors to issue balloon-payment qualified mortgages and balloon-payment high cost mortgages, and exempting them from the escrow requirement for higher-priced mortgages. Check … Continue reading

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