Key TRID Policy Official Leaves CFPB to Join Wells Fargo
Brian Webster, the Consumer Financial Protection Bureau's mortgage originations program manager who has worked on a number of technology-related policy and research initiatives, is leaving the agency to join Wells Fargo Home Mortgage.
Since joining the agency in January 2013, Webster has also been a regular fixture at industry conferences, providing insight into various CFPB initiatives, including the ability to repay/qualified mortgage rules, the electronic closing pilot program, and most recently, the Truth-in-Lending Act/Real Estate Settlement Procedures Act Integrated Disclosures, also known as TRID.
Webster will assume a leadership role at Wells Fargo and will continue to be involved in policy implementation support initiatives. His title will be senior vice president of business capability development.
Prior to his work at the CPFB, Webster worked for six years at software and professional services vendor Overture Financial Solutions, most recently as vice president of mortgage solutions. Before joining Overture, he held positions at Freddie Mac, loan origination system vendor PCLender and began his mortgage banking career at Colorado Federal Savings Bank. He also served in the U.S. Navy for 10 years.
A CFPB spokesperson could not immediately provide details about the bureau's plans for the mortgage originations program manager position.
The CPFB recently named Meredith Fuchs, the agency's general counsel, as its acting deputy director following Steven Antonakes stepping down from the No. 2 post in July. Fuchs had been planning to leave the agency too, but will fill both the general counsel and deputy director's positions until permanent successors are named for each.