CFPB Rescinds RESPA Section 8 Compliance Bulletin

In another victory for Mortgage Bankers Association member advocacy, the Consumer Financial Protection Bureau on Oct. 7 rescinded a controversial Compliance Bulletin on prohibition of kickbacks and referral fees under the Real Estate Settlement Procedures Act.

MBA, Trade Groups Raise Concerns over TRID Brokered Transactions

The Mortgage Bankers Association, in a letter last week to the Consumer Financial Protection Bureau, said as the Bureau assesses the effectiveness of its TRID Integrated Disclosure Rule it should reconsider provisions of the rule regarding wholesale creditors and brokered transactions.