The Consumer Financial Protection Bureau requests data that if used too zealously could cause a massive restriction in the market and a reduction in the type and amount of lenders.
New and experienced compliance experts have to learn the nuances of all the new regulations.
Public officials must make it clear once and for all that the law forbids them to deny or delay a loan because an applicant is pregnant or on parental leave.
There was already confusion about this part of the Fair Housing Act in past years, and the ability-to-repay rule that took effect in January has made it worse.
A big reason we have so many last-minute surprises is because data, documents and requests sit and wait until they are all ready for review by the next person in line.
For outsourcers to supply value to the originators that hire them, they must do than simply meet the terms of the agreement.