CFPB Appoints Cochran to Head Office of Regulations

Published August 28, 2012, 1:15 p.m. EDT

1 Min Read

The Consumer Financial Protection Bureau this week promoted Kelly Thompson Cochran to head its Office of Regulations, which is working on several rules that will reshape the mortgage industry.

Processing Content

Cochran will replace the former assistant director for regulations, Leonard Chanin, who is returning to his former law firm Morrison & Foerster in Washington.

The new director of regulations practiced law at Wilmer Cutler Pickering Hale and Dorr before moving to the Treasury Department in 2009.

At Treasury in the summer of 2011 she worked on the transition team that created the bureau and then became the deputy assistant director for regulations.

As the deputy director, Cochran “oversaw” the preparation of the proposed rules for mortgage servicing, RESPA-TILA mortgage disclosures, loan officer compensation, high-cost mortgages and appraisals, according to a personnel announcement issued this week.

The bureau also announced that Chris Lipsett will join as senior counsel to CFPB director Richard Cordray. Lipsett is also from the Wilmer Cutler Pickering Hale and Dorr law firm.

Brian Collins

Reporter

Brian Collins covers the housing and mortgage market, including the Federal Housing Administration and the Department of Housing and Urban... Read full bio

MORE FROM NATIONAL MORTGAGE NEWS

Fraud

FBI: Real estate cyberfraud rises with more AI, crypto scams

The industry reported $275 million in losses from internet crimes last year, a 59% annual increase as losses nationwide surpassed $20 billion.

By Andrew Martinez
Reporter

April 10
Home equity loans

HEI customers file new class action against Unison

A Colorado couple filed suit after realizing they might owe as much as $279,000 on a home equity investment contract used to obtain $88,000 in 2018.

By Spencer Lee
Technology Reporter

April 10
Economic indicators

War, oil and inflation: What it means for rates

Economists surveyed by Wolters Kluwer are scaling back rate cut expectations as Iran conflict-driven energy costs push inflation higher, complicating the Fed's path forward.

By Brad Finkelstein
Originations Editor

April 10
Inflation

Energy prices drive up inflation by 0.9% in March

A 21.2% spike in the price of gasoline was the biggest contributor to a 0.9% increase in the Consumer Price Index in March, according to a Friday report from the Bureau of Labor Statistics. The agency said other price increases were largely contained.

By Ebrima Santos Sanneh
Reporter

April 10
Originations

Jumbo lending playbook: automation, overlays and ROI

Jumbo loans demand more scrutiny and documentation, but automation is streamlining the process — and lenders who master the product stand to gain in a moderately bullish market.

By Brad Finkelstein
Originations Editor

April 10
LoanDepot

LoanDepot taps Figure to launch 5-minute loan product

LoanDepot will integrate Figure's proprietary credit and loan underwriting engine into its own proprietary mello technology platform and point of sale system.

By Colin McNamara
Reporter

April 9