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...]

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...]

CFPB Takes Action Against Wells Fargo and JPMorgan Chase For Illegal Kickbacks

CFPB Takes Action Against Wells Fargo and JPMorgan Chase For Illegal Kickbacks CFPB took action today against Wells Fargo and JPMorgan Chase for illegal marketing services arrangements i.e illegal kickbacks. Copy of complaint. The consent orders, filed today, "would require $24 million in civil penalties from Wells Fargo, $600,000 in civil penalties from JPMorgan Chase, and $11.1 million in … [Read more...]

Dodd Frank Workshop Goes Online

Dodd Frank Workshop Goes Online If you missed this workshop, make sure you visit this page to sign up to receive updates on our classes.               More info at: https://www.facebook.com/events/848055741879571/ Date: August 14, 2014 Time: 10:30 am to 12:00 pm Where: Vantage Self-Directed Retirement Plans 20860 N … [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...]

CFPB Finalizes Procedures for Supervising Nonbanks Engaged in Risky Conduct

The CFPB has adopted its long-awaited final rule setting forth the procedures it will use to supervise nonbanks engaged in conduct that poses risks to consumers.  The final rule will be effective 30 days after its publication in the Federal Register. Or in other words, CFPB to begin watching Nonbank Mortgage Brokers and Bankers. Yes, that's you loan officers.  Clock is ticking. Start thinking … [Read more...]

CFPB Proposes Changes To Points and Fees

CFPB Proposes Changes To Points and Fees Ballard Spahr LLP posted its analysis of the proposed changes of the CFPB rules, link to article Among other matters, the proposed modifications address the items that are included in points and fees under the ability-to-repay and high-cost loan rules, who is considered a loan originator for purposes of the January 2013 loan originator rule, and the … [Read more...]

Supreme Court Grants Certiorari in Canning v NLRB

UPDATE: July 17, 2013 Senate Confirms Richard Cordray appointment to CFPB  With this confirmation it will be highly unlikely that a decision by the Supreme Court to invalidate the recess appointment of Cordray by Obama, will cause chaos on current enforcement actions nor the rules that were finalized between the recess appointment and now. The U.S. Supreme Court agreed today to review the D.C. … [Read more...]