Compliance
August 1, 2014

Be Careful with Kickbacks, says CFPB

Last month, the CFPB fined a title company $30k for improperly paying out referral fees to mortgage brokers. “Kickbacks drive up the costs of getting a mortgage and put law-abiding companies at a disadvantage,” said CFPB Director Richard Cordray. “The Consumer Bureau will continue to take action against companies that…
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Compliance
July 28, 2014

What Happens When You inherit a Home with a Mortgage? The CFPB Weighs In

Losing a loved one is never easy. Neither is dealing with assets, or debts, they’ve left behind. If a parent dies, and they owe money on a home loan, what happens to the heir that inherits the home? Often, the heir will want to keep the home, and may therefore…
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Compliance
July 24, 2014

The CFPB is Not Kidding Around About RESPA

The Consumer Finance Protection Bureau recently levied a $500,000 fine against a real estate company for failing to comply with RESPA disclosure law. The bold move was meant to demonstrate that the law is serious, and that punishment is real for those in violation. The Real Estate Settlement Procedures Act…
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Compliance
July 23, 2014

CFPB Wants Consumers to Publicly Voice Complaints About Financial Companies

The CFPB is looking to expand its ability to process complaints from individual consumers regarding financial institutions. It currently accepts complaints on many consumer financial products, including credit cards, mortgages, bank accounts, private student loans, vehicle and other consumer loans, credit reporting, money transfers, debt collection, and payday loans. “By…
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Compliance
June 1, 2014

Compliant Title Insurance

Williston Financial Group is featured on21st Century Business to discuss the ever-evolving world of compliance and the steps we are taking to protect our clients. Watch this clip featuring our CEO, Pat Stone, and Chief Compliance Officer, Donald O’Neill, touch all the important issues surrounding CFPB and our new regulatory…
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