Made official yesterday (July 21, 2015), The Consumer Financial Protection Bureau (CFPB) moved the implementation date of the TILA-RESPA Integrated Disclosure Rule to October 3 2015.
In addition the CFPB added technical corrections to conform to the new effective date of the rule.
The CFPB has, again,... More
Q. My credit union makes mortgage loans. We have registered the CU and all of its mortgage loan originators (MLOs) with the Nationwide Mortgage Licensing System & Registry, and have obtained an NMLS ID number for the CU and separate NMLS IDs for our MLOs. We are confused, however,... More
Supreme Court Rejects Chapter 7 Debtors' Ability to Void Underwater Second Deeds of Trust
Decision means lenders may recover more on... More
Q. If a credit union obtains a member’s credit report in connection with setting up an account or underwriting a loan, is it permissible for the credit union, as a routine practice, to provide the member with a copy of the credit report?
Short Answer - Probably... More
Virginia currently maintains several different resources online that can be used to research the Virginia Code and the Virginia Administrative Code online. Please be aware that, as of July 1, 2015, the only online version of the code that will continue to be updated to reflect changes in the law... More
By Brooks Duncan, Victor Cardwell, and Tom Winn
Woods Rogers PLC
Labor and Employment Practice Group
As you have heard us say many times before, the FMLA forms provided by the Department of Labor ("DOL") are your "go to" forms. Don't alter a "good" thing and, these... More
May 6, 2015
DUBLIN (5/6/15)--Proposed changes to payday lending rules could prevent credit unions from making affordable payday alternative loans (PALs), National Credit Union Administration Chair Debbie Matz... More
Rep. Steve Pearce (R-N.M.), along with Rep. Brad Sherman (D-Calif.), introduced a bill last week that would provide a temporary delay in enforcement and a liability safe harbor period under the Consumer Financial Protection Bureau’s (CPFB) Truth in Lending Act-Real Estate Settlement... More
The New Requirement to Provide a List of HUD-Approved Homeownership Counselors: (For Some) It'll Be as Simple as Pressing a Button.
As of January 10, 2014, Regulation X will require mortgage lenders to provide the borrower with a written list of local HUD-approved homeownership counseling organizations not later than 3 business days after receiving an application. This requirement will apply to nearly all mortgages, and as of the... More
(We all needed something to yawn about.)
On November 5, 2013, the CFPB published a list of “safe harbor” countries for purposes of Regulation E’s new rules covering international remittance transfers. The good news is that nothing has really changed, and you do not need to do anything new. ... More