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 guidance letter that it has sent to CFPB Director Richard Cordray in order to help the CFPB identify the key issues of NAILTA’s position on vetting companies and to propose a mechanism for CFPB to act to prevent these entities from unnecessarily complicating the agency-underwriter relationship concerning Federal consumer law compliance.  Read more below for more information:

Vetting Cordray Supplemental