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CFPB to Examine Service Providers—Are You Affected? June 13 Webinar Has Answers!

A recent blog by law firm Ballard Spahr reports the Consumer Financial Protection Bureau (CFPB) has begun to examine service providers on a regular, systematic basis, particularly those supporting the mortgage industry.  The blog recounts information provided by the CFPB during an American Bar Association (ABA) Business Law Section meeting held May 7, 2017, stating: … Continue Reading

CFPB Updates Guidance on Lender Supervision of Third-Party “Service Providers”

On October 19, 2016, the director of the Consumer Financial Protection Bureau (CFPB) issued a new bulletin entitled “Compliance Bulletin and Policy Guidance; 2016-02, Service Providers.”  This bulletin is significant for the title industry because it reissues guidance from Bulletin 2012-03, which made it clear that financial institutions are obligated to ensure their business arrangements … Continue Reading

Preparing for the Proverbial Compliance Storm: There Should Be an App for That

If only there was a “Best Practices” app to let us know when your lenders will require a Certification of Compliance. With a “weather app” on your cellphone, rain should never come as a surprise.  One simply looks at the displayed radar images, clicks the “future” tab, and immediately sees where storms are headed and … Continue Reading

ALTA Best Practices–Who Is Requiring What

In the previous blog,  “An Initial Look at Available Best Practices Adoption Data,” we took a general look at ALTA’s list of lenders who are currently asking for some level of adherence to Best Practices.   In this blog, we will take a deeper dive into what is being required, and by whom, when it comes … Continue Reading

Current Lender Requirements for ALTA Best Practices Adherence

Why were ALTA Best Practices developed? In this upcoming blog series, I will offer some observations about the title industry’s challenges in adopting proposed company operational standards that were developed by the American Land Title Association, referred to as the ALTA Best Practices Framework 2.0. In this blog, I will provide a “30,000 foot” overview … Continue Reading