Industry publications are reporting that after a period of research and review the US Treasury Department is encouraging lenders and states to pursue e-closing and e-notarization technology to make residential mortgage transactions more convenient for consumers. The American Land Title Association (ALTA) also released a statement today indicating that its leadership recently met with Treasury […]Read More US Treasury Department Supports the Expansion of e-Closings and e-Notarizations in Mortgage Industry
“Data privacy” and “data security” are terms most lenders are hearing over and over again these days. The reasons for this are numerous but include federal and state regulator focus on the issue, increased publicity over wire fraud and data storage breaches in business and industry, and heightened concern by consumers about how their sensitive […]Read More Protecting Borrower Data in An Age of Hacking and Phishing Schemes
One of the biggest concerns that mortgage lenders have had for years is that they send their mortgage funds and collateral security documents to complete strangers who gather together and manage a process where there is no seat for them at the table. Even though the closing of a mortgage loan involves significant sums of […]Read More If The Table Starts Rockin’, Who’s Gonna Come Knockin’?
According to Mortgage Professional America, the acting director of the Consumer Financial Protection Bureau, Mick Mulvaney, recently told industry leaders that the CFPB will no longer practice “regulation by enforcement.” “The regulation by enforcement answer is really simple – we aren’t doing it anymore,” Mulvaney said. “It’s a fairness issue. If you’ve done something for […]Read More CFPB: No More Regulation by Enforcement? An Analysis