Agency handles growing number of requests as compliance gets more complicated.
WASHINGTON—Richard Cordray, director of the Consumer Financial Protection Bureau, defended his agency’s qualified mortgage regulations against recent criticism during the Mortgage Bankers Association annual convention here Oct. 28. (See more coverage on page 3.)
New mortgage lending rules from the Consumer Financial Protection Bureau could affect the willingness of credit unions to offer new mortgage loans, a new CUNA survey showed.
WASHINGTON — CFPB director tells confab that 95% of current mortgage lending will qualify.
Credit unions should train employees to look for triggers that would require disclosures and terms mandated by the Home Ownership and Equity Protection Act, said presenters Oct. 16 during a CUNA Mutual webinar.
Agency joins other regulators in addressing concerns about liability under Equal Credit Opportunity Act.
CUNA Mutual webinar outlines disclosures and terms required by regulators.
Trade group says credit unions cite third-party vendor issues, fear that lending could slow or stop.
Steven Van Beek has left NAFCU to join the law practice of Howard & Howard at the firm’s office in the Detroit suburb of Royal Oak, Mich.
They are Jiji Bahhur, now director of compliance, and Michael Coleman, now director of regulatory affairs, the trade group said.