The bureau released a five-year review of the so-called TRID regulation that found consumers benefited from being able to compare mortgage terms and costs, but the price tag for the industry was roughly $146 per loan. ... Read full article
The agency has proposed letting firms seek specific guidance, which can be applied to other institutions. But consumer groups worry the plan circumvents formal rulemaking. ... Read full article
The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished other regulatory relief efforts that were in the pipeline before the pandemic hit. ... Read full article
The bureau issued an interpretive rule clarifying that consumers under certain conditions can modify or waive waiting periods required by the Truth in Lending Act and Real Estate Settlement Procedures Act. ... Read full article
The agency will review the TRID regulation, which combined disclosure requirements of two separate laws, as part of a mandate to evaluate major policies five years after their effective date. ... Read full article
The Consumer Financial Protection Bureau has published a new "frequently asked questions" tool to help mortgage lenders with TILA-RESPA integrated disclosures compliance. ... Read full article
The CFPB finalized an amendment to its "Know Before You Owe," mortgage disclosure rule that gives lenders more flexibility to adjust closing cost estimates and pass on those increases to borrowers. ... Read full article
One purpose of the Senate bill was for small banks to rein in skyrocketing costs, but some bankers question whether the changes will save them money, and adapting to the reforms may even increase spending. ... Read full article
The CFPB's practice of "regulation by enforcement" forces mortgage companies to develop compliance standards based on the mistakes of their peers, rather than clear guidance from the enforcement agency, said David Motley, the new chairman of ... Read full article
The current regulatory focus drives the growth of ever-larger, harder-to-manage and harder-to-regulate megabanks, while community banks have been left to be picked up by acquirers. ... Read full article
Cynthia Blankenship, an executive at Bank of the West in Grapevine, Texas, has been a regular in Washington for years fighting for regulatory changes. She is encouraging other bankers to do likewise. ... Read full article
The Consumer Financial Protection Bureau's final rule to formalize guidance on a number of TILA-RESPA Integrated Disclosures compliance points omits an originally proposed fix for the so-called black hole that's created when a mortgage closing is ... Read full article
