CFPB issues HMDA warning letters

Last week, the CFPB announced that it is issuing HMDA warning letters to 44 mortgage lenders and mortgage brokers stating that the Bureau has information that appears to show those entities “may not be in compliance with certain provisions of the Home Mortgage Disclosure Act (HMDA) and its implementing regulation, Regulation C.” You can view sample CFPB [...]

By | 2016-10-31T00:00:05+00:00 October 31st, 2016|0 Comments

New Military Lending Act Requirements

Last July, the Department of Defense published a final rule to amend and dramatically expand the scope of the Military Lending Act (MLA). First enacted in 2007, the MLA was designed to provide specific protections for active duty service members and their dependents in consumer credit transactions. The MLA initially applied to three specific “consumer credit” [...]

By | 2016-08-09T00:00:44+00:00 August 9th, 2016|0 Comments