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  • 17 Jun 2015 8:30 PM | Edith Tella (Administrator)

    Statement by CFPB Director Richard Cordray on Know Before You Owe Mortgage Disclosure Rule

    WASHINGTON, D.C. - Today, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray issued the following statement on the Know Before You Owe mortgage disclosure rule:

    "The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before You Owe rule until October 1, 2015..

    read full statement click here 

  • 07 Jan 2015 5:14 PM | Edith Tella (Administrator)

    Author: Tory Barringer January 7, 2015

    President Barack Obama will announce this week a reduction to Federal Housing Administration (FHA) mortgage insurance premiums, according to media reports.

    Bloomberg reported Wednesday that FHA will cut  CLICK HERE to access full article

  • 05 Jan 2015 4:00 PM | Edith Tella (Administrator)

    January 05, 201510:58 AM ET

     

  • 10 Dec 2014 5:11 PM | Edith Tella (Administrator)

    Press Release

    December 10, 2014

    Contact: Matt Anderson, 212-709-1691

    NYDFS ISSUES EXAMINATION GUIDANCE TO BANKS OUTLINING NEW TARGETED CYBER SECURITY PREPAREDNESS ASSESSMENTS

    DFS-Regulated Banks to be Examined Based on Cyber Security Protocols, Governance, Third-party Vendor IT Security, Other Issues

    Targeted Cyber Security Assessments Will Be Integrated As Ongoing, Regular Part of DFS Exam Process

    Benjamin M. Lawsky, Superintendent of Financial Services, today issued an industry guidance letter to all New York State Department of Financial Services (DFS)-regulated banks outlining the specific issues and factors on which those institutions will be examined as part of new targeted, DFS cyber security preparedness assessments. These banks will be examined on their protocols for the detection of cyber breaches and penetration testing; corporate governance related to cyber security; their defenses against breaches, including multi-factor authentication; the security of their third-party vendors, and a number of other issues.

    The new cyber security assessments will become regular, ongoing parts of all   

    CLICK HERE TO ACCESS FULL PRESS RELEASE ISSUED FROM THE NYSDFS

  • 10 Dec 2014 3:38 PM | Edith Tella (Administrator)

    Read letter put out by the NYSDFS

    CLICK HERE
  • 20 Nov 2014 4:41 PM | Edith Tella (Administrator)

    Nov 20 2014

    CFPB Proposes Expanded Foreclosure Protections

    WASHINGTON, D.C. undefined Today, the Consumer Financial Protection Bureau (CFPB) proposed additional measures to ensure that homeowners and struggling borrowers are treated fairly by mortgage servicers. The proposal would require servicers to provide certain borrowers with foreclosure protections more than once over the life of the loan, to put in place additional servicing transfer protections, and to take steps to protect borrowers from a wrongful foreclosure sale. The proposal would also help ensure that surviving family members and others who inherit or receive property have the same protections under the CFPB’s mortgage servicing rules as the original borrower.

  • 09 Jun 2014 11:30 AM | Edith Tella (Administrator)

    Press Release

    JUNE 05, 2014

    Contact: Matt Anderson, 212-709-1691

     

     

  • 06 Jun 2013 3:01 PM | Edith Tella (Administrator)
    The CFPB published the first update to its exam procedures for the new mortgage regulations it issued in January 2013. The exam procedures offer financial institutions and mortgage companies valuable guidance on what the CFPB will be looking for as the rules become effective. The new regulations include those on appraisals, escrow accounts, and compensation and qualifications for loan originators. Learn more... 
  • 06 Jun 2013 2:59 PM | Edith Tella (Administrator)

    The CFPB finalized rules to facilitate access to credit by creating specific exemptions and modifications to the CFPB's Ability-to-Repay rule for small creditors, community development lenders, and housing stabilization programs. The amendments also revised rules on how to calculate loan origination compensation for certain purposes.
    Learn more... 

  • 29 May 2013 6:24 PM | Edith Tella (Administrator)

    Press Release issued by CFPB

     

    WASHINGTON, D.C. undefined Today the Consumer Financial Protection Bureau (CFPB) finalized rules to facilitate access to credit by creating specific exemptions and modifications to the CFPB’s Ability-to-Repay rule for small creditors, community development lenders, and housing stabilization programs. The amendments also revised rules on how to calculate loan origination compensation for certain purposes. Today’s final rule amends the CFPB’s Ability-to-Repay rule, which was finalized in January of this year.

    CLICK HERE TO READ MORE 


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