CFPB Finalizes “Know Before You Owe” Mortgage Forms

FOR IMMEDIATE RELEASE: November 20, 2013 CONTACT:     Office of Communications  – Tel: (202) 435-7170   CONSUMER FINANCIAL PROTECTION BUREAU FINALIZES “KNOW BEFORE YOU OWE” MORTGAGE FORMS New Forms Improve Consumer Understanding, Aid Comparison Shopping, and Help Prevent Surprises Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) is issuing a rule today requiring easier-to-use…

CFPB files amicus brief in well-known Edwards v. First American kickback case

On Monday this week, the Consumer Financial Protection Bureau(CFPB) files amicus brief in well-known Edwards v. First American kickback case. From the CFPB website – This case concerns the types of evidence a private plaintiff needs to put forward to demonstrate that a defendant paid for a referral in violation of the Real Estate Settlement Procedures Act…

CFPB FILES suit against BORDERS & BORDERS, PLC – Illegal Kickbacks

  FOR IMMEDIATE RELEASE: October 24, 2013 CONTACT: Office of Communications Tel: (202) 435-7170   CONSUMER FINANCIAL PROTECTION BUREAU FILES SUIT AGAINST BORDERS & BORDERS, PLC FOR PAYING ILLEGAL REAL ESTATE KICKBACKS Company Funneled Kickbacks Through Network of Shell Companies   WASHINGTON, D.C. — The Consumer Financial Protection Bureau today filed a lawsuit in federal district court…

NAILTA Continues Fight on Vetting

The National Association of Independent Land Title Agents (NAILTA) has joined with the Escrow Institute of California (EIC) and American Escrow Association (AEA) to participate in the Consumer Mortgage Coalition (CMC) in an effort to address third party vetting issues. The CMC is a coalition of trade organizations from the banking and finance sectors which…

CFPB Publishes Final Qualified Mortgage Rule

Yesterday, the Consumer Financial Protection Bureau (CFPB) issued its much-anticipated final rule concerning qualified mortgages. In July, 2010, Congress passed the Dodd-Frank Financial Reform Act mandating that the CFPB propose rules to protect consumers from toxic mortgage products. The CFPB, following its Congressional mandate, has created a final rule after reviewing 1,800 public comments from industry groups,…

NAILTA – submits comments CFPB’s Integrated Disclosure Rule under the Dodd-Frank Act

Today, the National Association of Independent Land Title Agents (NAILTA) submitted formal public comment concerning the CFPB’s Integrated Disclosure Rule under the Dodd-Frank Act.  In summary, NAILTA’s Response to the CFPB on New HUD/TIL Disclosures: The proposed rule making can be found by clicking here.  A summary of the rule can be found by clicking here. The…

NAILTA Provides CFPB with Supplemental Guidance for Vetting Companies

The National Association of Independent Land Title Agents (NAILTA) met with officials from the Consumer Financial Protection Bureau (CFPB) on October 1, 2012 to discuss CFPB Bulletin 2012-03, the Service Provider Bulletin and third party vetting companies.  As a result of that meeting, NAILTA’s Policy and Legal Affairs Committee decided to prepare a comprehensive supplemental…