AMLG Speaks Out Regarding CFPB Examinations

As the Consumer Financial Protection Bureau (CFPB) continues to issue new and revised rules and regulations affecting the mortgage industry, it is full-steam ahead for the CFPB as a regulator, including comprehensive supervisory examinations and enforcement actions. Recently, an AMLG representative spoke at the RESPRO Fall 2016 Seminar in Washington, DC on a panel entitled, “How to Ace Your CFPB Exam.” Specifically, AMLG spoke about hot topics and areas of focus we see the CFPB and its examiners zeroing in on in upcoming examinations and provided attendees with numerous resources and best practices for preparing for such examinations.

As a mortgage banking focused law firm, AMLG routinely provides counsel to its clients on CFPB regulations, official interpretations, examinations, and enforcement actions. Some of the services we provide to clients include interpreting various CFPB regulations and providing legal opinions around difficult to understand portions of Bureau rules; reviewing and updating clients’ QC Plans, policies and procedures, and related agreements (including loan officer compensation agreements) to make sure they are compliant; reviewing and updating vendor contracts and providing assistance with vendor management issues; and providing compliance training and education for employees working on CFPB-related matters.  To learn more, please contact AMLG by clicking here.