Posts Tagged: CFPB

CFPB Proposal

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Just days after Frank Keating, the President and CEO of the American Bankers Association, used an Old Testament analogy to challenge lawmakers to amend the Dodd-Frank Act to work better to achieve its intended purpose, the CFPB has announced a proposal that would redefine the definition of “small creditor” and “rural” under its mortgage rules…. Read more »

FDIC Releases Second Technical Assistance Video on CFPB Mortgage Rules

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Valuation Management Group (VMG) is pleased to read that the Federal Deposit Insurance Corporation (FDIC) announced the release of the second in a series of three technical assistance videos developed to assist bank employees in meeting regulatory requirements. These videos address compliance with certain mortgage rules issued by the Consumer Financial Protection Bureau (CFPB). The first video,… Read more »

House Members Seek One-Year Delay of Mortgage Rules Slated for January 2014 Implementation

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In a November 5th, 2013 letter to Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB), one hundred and eighteen members of the U. S. House of Representatives expressed their concern about the implementation of mortgage rules that are to become effective in January. Of particular concern is the Ability to Repay and Qualified… Read more »