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CFPB Updates Mortgage Servicing Rules

Last week the Consumer Financial Protection Bureau (CFPB) released updated mortgage servicing examination procedures. The third edition, dated June 22, 2016, offers guidance to credit unions on what the CFPB will be looking for...

TRID Phase II

We are eight months into the post (apocalyptic) world of TRID implementation. We have encountered system issues, questions with no answers, staff confusion and even some downright denial. But, through it all, we were told...

TIRED of TRID?

The CFPB’s TILA-RESPA Integrated Disclosure (TRID) rule was issued on November 20th of 2013, and was effective on October 3rd of last year. Following revisions to policies, procedures and software during the welcome 23 month...

How Effective is Your Compliance Management System?

In the summer of 2013, the CFPB published their Supervisory Highlights, which included their expectations for financial institutions needing to implement an effective compliance management system (CMS).  As a part of these Highlights, the...

April Showers Bring May… Rulemaking Agendas

It’s that time of year again.  Flowers, baseball and the CFPB’s Spring Rulemaking Agenda. As part of the Regulatory Flexibility Act, the CFPB is required to publish its Rulemaking Agenda twice each year. Once in...