Colgate Selden and Nanci Weissgold were panelists at this event hosted by the Mortgage Bankers Association.
Colgate Selden was a key speaker during the panel "Compliance Essentials: Overview of Consumer Protection Compliance — The Dodd-Frank Rules." During this panel, there was an overview of most of the rules established by the Consumer Financial Protection Bureau (CFPB) under Dodd-Frank regarding the mortgage process, including ability to repay, Home Ownership and Equity Protection Act (HOEPA), loan officer compensation, and servicing. These rules require ability to repay determinations by lenders, provide special requirements and consumer protections for high-cost loans, limit loan officer compensation based on rate and terms, and establish new servicing responsibilities.
Nanci Weissgold was a key speaker during the panel "Servicing Issues Including TCPA." This panel discussed rules and directives under Dodd-Frank, the Fair Debt Collection Practices Act (FDCPA), Telephone Consumer Protection Act (TCPA), state and Conference of State Bank Supervisors (CSBS) initiatives, as well as litigation and enforcement actions that continue to significantly impact the mortgage servicing process. Get an update on all the new servicing developments.