NC is at the forefront of first-ever eClosing and plans to make it new standard in state

Posted by Ellen Crema on 5/12/17 12:17 PM

So exciting to see that North Carolina passed a major milestone in the housing finance industry this month, performing its first ever eClosing!

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Tags: Regulatory and Compliance

Did you know? Indiana joined states with predictable recording fees.

Posted by SoftPro on 5/9/17 5:08 PM

According to ALTA, Indiana became the latest state to enact legislation that enacts predictable recording fees, which helps facilitate fee accuracy and compliance with the TILA-RESPA Integrated Disclosures rule.

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Tags: Regulatory and Compliance

SoftPro® Wins Gold in 2017 American Business Awards

Posted by SoftPro on 5/5/17 9:18 AM

SoftPro® Wins Gold in 2017 American Business AwardsSM

We are so happy to announce that SoftPro was named the winner of Gold Stevie® Awards in both the Company of the Year - Real Estate and Customer Service Department of the Year categories in The 15th Annual American Business Awards!

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Tags: Regulatory and Compliance

Did you know that CFPB proposes new changes to HMDA?

Posted by SoftPro on 4/14/17 11:35 AM

According to Housing Wire, the Consumer Financial Protection Bureau issued a much-asked-for proposal to clarify the 2015 updates to the Home Mortgage Disclosure Act rule, in order to help ensure industry compliance, according to the national regulator.

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Tags: Regulatory and Compliance

Mortgage rates break holding pattern and drop...

Posted by SoftPro on 3/6/17 10:45 AM

While still higher than last year, mortgage rates have broken their holding pattern and dropped, according to Freddie Mac.

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Tags: Regulatory and Compliance

CFPB to defend constitutionality to full court

Posted by SoftPro on 2/28/17 9:57 AM

The CFPB appealed the October ruling in which a 3 judge panel ruled in favor of PHH.  The CFPB asked the court to rehear the case en banc, meaning the entire court would hear the case, rather than the three judges who initially presided over the case .

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Tags: Regulatory and Compliance

What is the future of the CFPB?

Posted by SoftPro on 2/14/17 9:28 AM

In a memo leaked by Rep. Hensarling it look as if the republicans are looking to substantially change the structure of the C.F.P.B. and limit the scope of its authority.  While it is unlikely that the republicans would be able to repeal all of Dodd-Frank without democratic buy in, the recent proposal is part of a broader set of policies that Republicans have been working on to roll back the Wall Street regulations within the Dodd-Frank Act.

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Tags: Regulatory and Compliance

Democrats say No and Republicans say Yes to removing Director Cordray

Posted by SoftPro on 1/11/17 10:20 AM

A group of 21 Democrats in the U.S. House of Representatives has written a letter to President-elect Donald Trump asking him not to remove Richard Cordray as Director of the Consumer Financial Protection Bureau.  Meanwhile, republican senators Ben Sasse of Nebraska and Mike Lee of Utah are both asking president elect Donald Trump to immediately fire Cordray.  To read more click on the links below.

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Tags: Regulatory and Compliance

CFPB announces leadership changes

Posted by SoftPro on 1/9/17 11:28 AM

With less than two weeks before Donald Trump’s inauguration, the Consumer Financial Protection Bureau has released five changes to its senior leadership lineup.  This leadership changeup comes at a time of uncertainty as the CFPB faces an unknown future under a Trump administration.

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Tags: Regulatory and Compliance

How will the outcome of the election affect housing reform?

Posted by SoftPro on 11/9/16 11:28 AM

No one knows...not really.  President-elect Donald Trump didn't say much over the past 18 months regarding the mortgage industry and housing reform.  What this means is we don't really know what to expect.  We do know that the GOP has control of the House and Senate.  The Senate is fairly evenly divided though, which would lead one to believe that it will be tough to make any major housing reform changes without bipartisan support.  There would need to be a lot of negotiating to make anything happen.  Some other areas to watch would be the future of GSE's and the CFPB.  Stay tuned.

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Tags: Regulatory and Compliance

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