Law and regulation

A court has vacated a finding that loan officers were non-exempt workers, but that does not mean you can reclassify LOs as exempt workers.

The Consumer Financial Protection Bureau has provided small banks and credit unions that operate in rural and underserved counties with certain exemptions from its mortgages rules.

Is the mortgage market robust enough to say no thanks to the Fed’s easing, which has kept rates at record lows for years.

Mortgage disclosures and supervision of nonbank entities will be top concerns for the Consumer Financial Protection Bureau as it enters its third official year of operation.

Keep reading and rereading anything to do with the Consumer Financial Protection Bureau.

Although the rule faces justified concerns, the regulatory agencies have been receptive to insights provided by lenders most affected.

Two cornerstones of the mortgage business will be penalized under the risk-based capital regime the federal banking agencies are adopting.

The Consumer Financial Protection Bureau has advised banks and other financial companies how to respond to an investigation to minimize the risk of punishment.

Home Affordable Modification Program mods will qualify for the 50% risk-weight bucket.

Sabal Financial Group CEO Pat Jackson sees niche business growth opportunity within the third-party servicing space.

Sen. Mike Crapo is concerned the Consumer Financial Protection Bureau is exceeding its authority in purchasing big data on consumer behavior.

Jeffrey Whaley of Sevierville, Tenn., faces five years in prison for his May 2012 federal convictions for wire fraud, bank fraud and money laundering arising from a mortgage fraud scheme.

There has not been a great deal of buzz surrounding the CFPB complaint database thus far, but servicers could gain valuable perspective simply by understanding the process.

In the circles in which I travel, discussions related to the Consumer Financial Protection Bureau have not been favorable.

Ballard Spahr’s long-term expansion goals have now led to the creation of Ballard Spahr Stillman & Friedman in New York.

The Federal Reserve Board has ditched a stringent and complex Basel III risk-based capital rule for residential mortgages and decided to leave the current risk weights in place for all banks.

Mutual thrift defections from the Office of the Comptroller of the Currency should decline now that once-nervous bankers have gotten a chance to get familiar with the regulator.

Another 10 states have adopted a uniform mortgage loan officer test that makes it easier for MLO’s who want to be licensed in multiple states.

Some observers suspect regulators might punt on finalizing how banks should calculate their capital for residential mortgages, deferring on the issue.

Mortgage Grapevine poster LewM has a problem.