CFPB: No More Regulation by Enforcement? An Analysis

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

Data Breaches from Email Phishing Scams Still Rocking Mortgage Industry: WEI Mortgage latest victim.

Just today the industry learned that WEI Mortgage has discovered a data breach from an email phishing scam last Fall that appears to have exposed loan file information and borrower personal identifying data such as Social Security numbers to outside parties. Back in October 2016 I wrote that Wells Fargo Bank and the Federal Bureau […]

Read More Data Breaches from Email Phishing Scams Still Rocking Mortgage Industry: WEI Mortgage latest victim.

Why Settlement Agents Pose the Greatest Risk to Mortgage Lenders and Borrowers

Settlement agents, the men and women who manage the closing of residential mortgage loans, carry a great burden with them.  Each time they close a loan they have access to mortgage proceeds, lender documents including the important collateral security instruments (note and mortgage) and borrower personal and financial information (in the final 1003 and other […]

Read More Why Settlement Agents Pose the Greatest Risk to Mortgage Lenders and Borrowers