NAILTA responds to Secure Settlements, Inc – White Paper Response

Secure Settlements, Inc. provided a response to NAILTA’s white paper entitled, “Third Party Vetting Companies: Are they Legal or Necessary?”. In the letter, SSI argues that its vetting process, although not regulated by any administrative authority and not a test of agency competence, complies with the standards established by CFPB in its Bulletin 2012-03. SSI…

Escrow Institute of California releases agent vetting white paper

The Escrow Institute of California issues their white paper on the topic of title agent vetting. The paper outlines the group’s position against third-party vetting companies like Secure Settlements, Inc., arguing that escrow agents in California are subject to more than sufficient regulatory oversight already. Escrow Institute of California Secure Settlements is a third party…

CFPB Releases New Proposed Rule to Modify HUD-1 Settlement Statement

The Consumer Financial Protection Bureau has just released today a notice of proposed rulemaking to modify the HUD-1 Settlement Statement and mortgage disclosures associated with real estate closings involving federally-related mortgage loans.  In other words, this is the change that everyone will have to comply with.  To view the proposal please click here: A detailed summary…

CFPB Integrated Mortgage Disclosures Under RESPA (Docket No. CFPB-2012-0028)

The Consumer Financial Protection Bureau “CFPB” released the “Integrated Mortgage Disclosures under the Real Estate Settlement Procedures Act (Regulation X) and the Truth In Lending Act“ (Regulation Z) proposed rule today. The CFPB is asking the public to comment on the rule on or before November 6, 2012 with the exception of 12 CFR 1026.1(c) and 1024.4 in which comments are…