Ben Olson Featured in HousingWire Article, "Former CFPB Executive Highlights Hot Spots in TILA/RESPA"Benjamin K. Olson
Ben Olson was featured in Brena Swanson’s HousingWire article, “Former CFPB Executive Highlights Hot Spots in TILA/RESPA,” on Monday, March 16, 2015.
In order to help lenders better sort through the new world of TILA/RESPA, HousingWire hosted a webinar sponsored by Optimal Blue featuring guest speaker Benjamin Olson, partner at Buckley Sandler and former Consumer Financial Protection Bureau Deputy Assistant Director, Office of Regulations.
In 2010, the U.S. Housing Department of Urban Development interpreted the “good faith estimate” requirement in RESPA to limit variations between estimated settlement charges on the GFE and actual settlement charges on the HUD-1, referred to as “tolerances.”
However, Olson explained that implementation has been extraordinarily challenging for the industry and involves extensive compliance issues and remediation.