The new regulations from the Consumer Financial Protection Bureau (CFPB) are geared toward providing the customer with a more transparent transaction. To help achieve this transparency, the agency has proposed seven changes to the real estate process. The changes touch almost every aspect of the real estate transaction, including the process, the length of time …Read more
Many things changed in the U.S. economy after the market crash a few years ago. One was the establishment of the Consumer Financial Protection Bureau (CFPB). Created as part of the Dodd-Frank Wall Street Reform & Consumer Protection Act, the new government agency’s stated goal is to focus on fairness and transparency in many types …Read more
On July 19, one of the greatest advances in guidance for title industry best practices came about when the American Land Title Association (ALTA) published version 2.0 of the ALTA Best Practices Framework. ALTA has diligently labored on this large project for the benefit of its members since last summer, and previously published in early …Read more
November 6, 2012 was the deadline for comments to the Consumer Financial Protection Bureau (CFPB) on its proposed rule to integrate mortgage disclosures required by Truth in Lending (TILA) and the Real Estate Settlement and Procedures Act (RESPA). Comments posted by individual consumers, lenders and title companies of all sizes, and trade organizations are available …Read more
If there is one thing that mortgage bankers have learned to accept is the reality of the new world order, that quality and compliance will become the forefront of all origination for the foreseeable future. Anyone who has been involved in the closing of a real estate transaction in the last three years has already …Read more
Because customer service relies so heavily on responding to a customer’s unique needs, Stewart focuses a great deal of time on truly getting to know our customers. In addition to regular interaction, we’ve found that surveys are a great tool for generating customer insight. But frequency of surveying is important. Customers may get annoyed if …Read more
So, it is the time of year again. It is convention season, when all the big trade associations in our industry host their annual conventions. This is the time of year when companies reconsider their messaging and marketing approach to their customers. This exercise usually brings a bit of introspection, so I thought I would …Read more
I don’t know about you, but the past few months have been a whirlwind to say the least. CFPB is here, and has infiltrated not only my brain, but our days, nights and business operations, as I am sure it has your’s too. As I sit in task force meetings to help to prepare to help you to be CFPB compliant, I am reminded of HUD 2010 initiative.