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, AMLG Managing Member James Brody spoke at the RESPRO Fall 2016 Seminar in Washington, DC on a panel entitled, “How to Ace Your CFPB Exam.” Specifically, Mr. Brody 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. If you were unable to attend the Seminar, AMLG will be co-hosting a complimentary webinar on a similar topic later this month with The Community Mortgage Lenders of America (CMLA). To register for the free webinar entitled, “Preparing for a CFPB Examination: Critical Information for Mortgage Originators and Servicers,” please click here or see the full write up below.  Mr. Brody will also be presenting at the ACI’s 6th Mortgage Servicing Compliance Conference in Washington, DC on December 1, 2016, alongside the CFPB’s former Deputy Enforcement Director and former CFPB Senior Counsel for Policy and Strategy; together, they will be discussing a compliance checklist to help lenders and servicers better prepare for CFPB 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 Managing Member James Brody by clicking here.