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"From a policy perspective, changing things after all documents have been signed is not where the bureau wants to be," says Ben Olson, a partner at BuckleySandler and a former CFPB deputy assistant director in the Office of Regulations.
BY Kate Berry
The Consumer Financial Protection Bureau's proposal Friday updating its mortgage disclosure rule did not give lenders what they wanted: an ability to correct errors after a loan has closed and a release from liability for technical violations. But the 293-page proposal did provide revisions that will help in compliance and the closing of more loans.
The Federal Housing Administration is promoting a particular kind of financing for residential energy retrofits that another regulator staunchly opposes. Mortgage lenders and investors have qualms, too, about the impact on their standing in collateral claims.  more »
Foundation Asset Management has requested a special meeting of Stewart Information Services Corp. stockholders, where it will propose removing co-vice chairmen Malcolm Morris and Stewart Morris Jr. from the company's board of directors.  more »
The private equity firm GTCR is interested in fintech companies looking to disrupt the status quo, so long as they have proved themselves and are paired with managers who have a long track record of success.  more »
Carver Bancorp in New York is dealing with a new set of challenges just months after being released from a longstanding enforcement order. The company’s woes highlight the challenges for banks with narrowly constrained business models.  more »
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Loan officers encounter a wide range of obstacles in the process of seeing a mortgage loan through to closing, but how many can spin silence into livestock?
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