State Regulators

Browse articles from all of our Newsletters related to State Regulators.

November 12, 2018 - Inside the CFPB

Diamond Residential Mortgage to Pay $1.2 Million for Alleged Fraud

An Illinois-based mortgage company will pay $1.2 million in restitution to consumers after a state investigation found a company’s branch manager defrauded consumers. Diamond Residential Mortgage Corp., Lake Forest, IL, recently settled with Illinois Attorney General Lisa Madigan and the Illinois Department of Financial and Professional Regulation, resolving a mortgage fraud allegation. Diamond’s Springfield branch manager, Chris Schaller ...


November 12, 2018 - Inside the CFPB

S&P: Servicers Need to Keep Best Practices Despite Loosening Regs

S&P Global Ratings last week urged mortgage servicers to continue to follow the best practices established after the financial crisis, even as some federal regulators are adopting less assertive regulatory approaches. “While we believe the regulatory landscape has changed and that these actions offer some promising developments for servicers, this overture could still prelude some hurdles,” an S&P report said. “Since servicers have invested considerable capital ...


October 15, 2018 - Inside the CFPB

CFPB Drops Proposed Changes to Share Confidential Info With States

The CFPB has abandoned a controversial proposal to expand its disclosure of confidential information through Freedom of Information Act requests. Notably, a new final rule omits the whole part of a previous proposal that would have allowed the CFPB to share confidential information collected in supervisory events with any government agency it deems “relevant to the exercise of the agency’s statutory or regulatory authority.” Such agencies would ...


October 15, 2018 - Inside the CFPB

Administration Officials Continue Push for Coordination with States

A top CFPB official last week touted the agency’s strategy on fintech and innovation in financial services as a perfect fit with its emphasis on cooperating with state regulators. Paul Watkins, director of the CFPB’s Office of Innovation, said the bureau is taking unique steps to coordinate with state regulators in creating regulatory sandboxes for financial technology companies. He joined other government officials in making remarks at the Bank Policy Institute’s ...


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With loan volumes declining, does your shop have plans to enter the non-QM lending market in 2019?

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