Jeffrey P. Naimon authored a Mortgage Compliance Magazine article, "Divide & Conquer"
Mortgage Compliance MagazineJeffrey P. Naimon
The Consumer Financial Protection Bureau (CFPB or Bureau) continues to expand its gaze, announcing this past April that it has begun implementation of a program to directly supervise service providers of financial institutions, particularly those that cater to the mortgage industry. As regulatory signals go, this one should be relatively clear—federal examiners will be conducting regular onsite examinations of vendor operations to ensure compliance with federal consumer protection laws, and, in its own words, "the CFPB is focusing on service providers that directly affect mortgage origination and servicing markets."
Click here to read the full article.