Kevin W Hardin

Kevin W Hardin BIO The Mortgage Mediation Group assists homeowners, attorneys, realtors, loan officers, and other professionals with issues related to Mortgages. These issues may be Credit Report Errors, Short Sale, Loan Modification, Foreclosure, Deficiency, RESPA, TILA and Post Foreclosure-related claims under the California Homeowner Bill of Rights. Kevin W Hardin is the Specialized … [Read more...]

CFPB Is Not Self Funded

CFPB Is Not Self Funded If the CFPB is not self funded, then how are they funded? I have been to many a presentation by various parties in the real estate industry that represent that the CFPB is self funded, however the CFPB is not self funded. Let's start with how they came into existence. You can read the long version at the The CFPB strategic plan, budget, and performance plan and … [Read more...]


PAY-TO-PLAY MORTGAGE KICKBACK SCHEME   It seems like every day we are hearing about another enforcement action by the CFPB. This time it was against a Title Company and Mortgage Loan Officers. See announcement from the CFPB here Their scheme is being called a Pay-To-Play Mortgage Kickback Scheme. They knew it was wrong and illegal, if not, why did they create separate companies to … [Read more...]

Loan Officer Compensation

Loan Officer Compensation We discuss the Consumer Financial Protection Bureau's (CFPB) results of examinations of mortgage companies and their compliance with the loan officer compensation rule. Every 6 months the CFPB releases its Supervisory Highlights. This is a summary of actions taken, by the CFPB, when violations have been discovered. From July 2014 through December 2014 the CFPB … [Read more...]

Marketing Services Agreements

Marketing Services Agreements Marketing Services Agreements are dying a slow death. I have already discussed this issue in two of my previous posts. The first one concerned Lighthouse Title and the next one was concerning Wells Fargo and Chase. In each case the CFPB made itself very clear how it intends to interpret and enforce RESPA Section 8(a) and 8(b). You can read those regulations at 24 CFR … [Read more...]

NAR Sends Letter To CFPB On Mini Correspondent Business

NAR Sends Letter To CFPB On Mini Correspondent Business On september 30th, we found out that NAR sends letter to CFPB on mini correspondent business. I had previously reviewed CFPB's position on this, in our blog post, on July 14, 2014 of this year.The National Association of Realtors' ( NAR's) position is that any move by the CFPB would limit access to financing for consumers. I agree with … [Read more...]

Flagstar Bank and the California Homeowner Bill of Rights

What does Flagstar Bank and the California Homeowner Bill of Rights have to do with each other? On September 29th, the Consumer Financial Protection Bureau ("CFPB") took action against "Flagstar Bank for violating the CFPB’s new mortgage servicing rules by illegally blocking borrowers’ attempts to save their homes." In that action the CFPB fined Flagstar Bank $10 Million and requires that … [Read more...]

CFPB Clarifies Mini-Correspondent

CFPB Clarifies Mini-Correspondent Policy Guidance on Supervisory and Enforcement Considerations Relevant to Mortgage Brokers Transitioning to Mini-Correspondent Lenders **see update on NAR letter to CFPB** There has always been something of an uneven playing field for mortgage brokers vs mortgage bankers i.e. Those entities that broker mortgage loans to correspondents or banks and those … [Read more...]

Lower FHA Loan Limits For 2014

Lower FHA Loan Limits For 2014 Hud just release Mortgagee Letter HUD No. 13-184 HUD ANNOUNCES NEW FHA LOAN LIMITS for 2014 TO TAKE EFFECT JANUARY 1ST The existing FHA loan limits for 2013 around the country were the result of HERA Housing and Economic Recovery Act of 2008, which is not going to be extended this year. HUD has now announced that those FHA Loan Limits for 2014 are lower. You … [Read more...]

Dodd Frank

Dodd-Frank Act and its Impact on Investors, Private Lenders and Real Estate This 90-minute free workshop will discuss the implications of the Dodd Frank ACT (DFA) that was signed into law in 2010. The DFA created the Consumer Finance Protection Bureau (CFPB) and gave it authority to promulgate rules to govern every aspect of the financial services market, including real estate and … [Read more...]