Debra Lewis

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When many small and community bankers serving rural and underserved areas prepare for their New Year’s Eve toast this year, they will be able to make a major New Year’s Resolution: make more home loans.  The Consumer Financial Protection Bureau (“CFPB”) has introduced welcome new rules scheduled to take effect next year, which will raise the loan threshold for the “small creditor” exemption from 500 to 2,000 loans.  The new rules will also exclude from…
The Consumer Financial Protection Bureau recently published the eighth edition of its Supervisory Highlights, in which the Bureau “shares recent supervisory observations” touching on several legal topics under its jurisdiction. One of the principal areas covered in this edition is mortgage servicing. Ensuring compliance with the CFPB mortgage servicing rules that went into effect on January 10, 2014 has been a “high priority” for the Bureau. The Supervisory Highlights details mortgage servicer violations in the…