Jun 24 2015

Proposal Open for Public Comment Until July 7th

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued a proposed amendment to the Know Before You Owe mortgage disclosure rule, which proposes to move the rule’s effective date to October 3, 2015. The rule, also called the TILA-RESPA Integrated Disclosure rule, requires.....

read more click here 

Statement by CFPB Director Richard Cordray on Know Before You Owe Mortgage Disclosure Rule

WASHINGTON, D.C. - Today, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray issued the following statement on the Know Before You Owe mortgage disclosure rule:

"The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before You Owe rule until October 1, 2015..

read full statement click here 

Author: Tory Barringer January 7, 2015

President Barack Obama will announce this week a reduction to Federal Housing Administration (FHA) mortgage insurance premiums, according to media reports.

Bloomberg reported Wednesday that FHA will cut  CLICK HERE to access full article

January 05, 201510:58 AM ET

by Marilyn Geewax

 

Six years ago, homebuilders and Realtors were facing brutal business conditions: millions of Americans were losing their jobs and homes.

As 2015 begins, hiring is strong and CLICK HERE TO ACCESS FULL ARTICLE           

Press Release

December 10, 2014

Contact: Matt Anderson, 212-709-1691

NYDFS ISSUES EXAMINATION GUIDANCE TO BANKS OUTLINING NEW TARGETED CYBER SECURITY PREPAREDNESS ASSESSMENTS

DFS-Regulated Banks to be Examined Based on Cyber Security Protocols, Governance, Third-party Vendor IT Security, Other Issues

Targeted Cyber Security Assessments Will Be Integrated As Ongoing, Regular Part of DFS Exam Process

Benjamin M. Lawsky, Superintendent of Financial Services, today issued an industry guidance letter to all New York State Department of Financial Services (DFS)-regulated banks outlining the specific issues and factors on which those institutions will be examined as part of new targeted, DFS cyber security preparedness assessments. These banks will be examined on their protocols for the detection of cyber breaches and penetration testing; corporate governance related to cyber security; their defenses against breaches, including multi-factor authentication; the security of their third-party vendors, and a number of other issues.

The new cyber security assessments will become regular, ongoing parts of all   

CLICK HERE TO ACCESS FULL PRESS RELEASE ISSUED FROM THE NYSDFS

Read letter put out by the NYSDFS

Nov 20 2014

CFPB Proposes Expanded Foreclosure Protections

WASHINGTON, D.C. undefined Today, the Consumer Financial Protection Bureau (CFPB) proposed additional measures to ensure that homeowners and struggling borrowers are treated fairly by mortgage servicers. The proposal would require servicers to provide certain borrowers with foreclosure protections more than once over the life of the loan, to put in place additional servicing transfer protections, and to take steps to protect borrowers from a wrongful foreclosure sale. The proposal would also help ensure that surviving family members and others who inherit or receive property have the same protections under the CFPB’s mortgage servicing rules as the original borrower.

Press Release

JUNE 05, 2014

Contact: Matt Anderson, 212-709-1691

The CFPB finalized rules to facilitate access to credit by creating specific exemptions and modifications to the CFPB's Ability-to-Repay rule for small creditors, community development lenders, and housing stabilization programs. The amendments also revised rules on how to calculate loan origination compensation for certain purposes.
Learn more...