Gonzobanker

FEBRUARY 15, 2019

Just six weeks into the new year, and another monster deal is positioned to shake up the industry, this time in lending. Private equity firm Thoma Bravo has agreed to acquire Ellie Mae, a leading purveyor of mortgage software, for a cool $3.7 At the same time, Ellie undertakes no mortgage-market credit risks. But who knows?

Lending 102

Lending Data System Software 102

CFPB Monitor

SEPTEMBER 20, 2018

Mr. Ranney, former Examiner-in-Charge at the CFPB, and Mr. Willis, who chairs Ballard Spahr’s Consumer Financial Services Litigation Group, discuss the CFPB’s findings regarding debt collection, payday loans, automobile servicing, and small business lending. To listen and subscribe to the podcast, click here.

Leadership 68

Leadership Groups Lending Report 68

FICO

OCTOBER 10, 2022

FICO Fact: Can having no credit score be better for consumers than a low credit score? A low FICO score for a consumer can have the perverse effect of preventing them from having access to a second chance through manual underwriting. We agree with consumer advocates that this is a legitimate concern. JessicaButalla@fico.com.

Analytics 52

Analytics Lending Data Michigan 52

FICO

OCTOBER 4, 2016

The potential of alternative data in consumer lending decisions continues to be a hot topic in Washington, D.C., Notably, the latest version of the Q&A guidance includes a new clarification of this standard involving the use of alternative credit histories in mortgage and consumer lending programs.

Lending 74

Lending Data Community FDIC 74

CFPB Monitor

NOVEMBER 18, 2021

Earlier this week, the CFPB issued a Request for Information (RFI) regarding an assessment of the significant amendments to the Home Mortgage Disclosure Act rules, known as Regulation C, adopted in October 2015 and subsequently revised in several additional rulemakings (the “HMDA Rule”).

Compliance 78

Compliance Data Lending Operations 78

CFPB Monitor

NOVEMBER 9, 2018

The CFPB and Federal Housing Finance Agency (FHFA) have released the first public use file containing data from the National Survey of Mortgage Originations. The NSMO is a component of the National Mortgage Database (NMDB®) program, which we reported on previously. The current version of the survey contains 94 questions.

Survey 60

Survey National Data Lending 60

CFPB Monitor

APRIL 11, 2016

A number of prominent industry trade groups have written to the Department of Defense (DoD) seeking clarifications to the Military Lending Act (MLA) final rule adopted in July 2015 that dramatically expanded the scope of the MLA’s coverage.

Groups 60

Groups Lending Regulation Taxes 60

PYMNTS

MARCH 18, 2019

In a Friday (March 15) letter to the committee, addressed to Senators Mike Crapo (R-ID) and ranking committee member Sherrod Brown (D-OH), the CSBS said a standard (thus, a floor) would let individual states maintain a leading role in protecting consumers. Here’s a mortgage analogy. financial crisis.”.

California 122

California Data Security Regulation 122

Abrigo

OCTOBER 4, 2022

Effect of slowing prepayments Meanwhile, prepayments on mortgage-backed securities slow down, reducing cash flow coming back into the institution to be reinvested at a higher rate. DOWNLOAD . Takeaway 1 Banks and credit unions can increase earnings in a rising-rate environment with careful asset/liability management. 5 rate hikes.

Strategy 195

Strategy eBook Security Management 195

CFPB Monitor

SEPTEMBER 17, 2018

I am very excited to announce that today, Ballard Spahr’s Consumer Financial Services Group has launched The Consumer Finance Monitor Podcast, a weekly podcast program focused on legal developments that are of importance to the consumer finance industry. To listen and subscribe to the podcast, click here.

Lending 60

Lending Apple Google Compliance 60

Gonzobanker

MAY 8, 2015

The annual LendIt conference was held last month at Times Square in New York City and GonzoLender descended boldly on the scene to evaluate the mysterious underbelly of digital lending. The lending attack on community banks and credit unions has been waged. I’ll repeat that: one credit union and one community bank. THE PLAYERS.

Conference 60

Conference Lending Community Bank Community 60

CFPB Monitor

AUGUST 6, 2018

On July 26, 2018, the Federal Reserve Board (“ FRB “) announced the launch of the “Consumer Compliance Supervision Bulletin” (the “ Bulletin “) and simultaneously published its first issue. With this in mind, the July 2018 Bulletin focuses on a wide-range of consumer protection issues, including: Redlining.

Compliance 68

Compliance Risk Management Lending Training 68

CFPB Monitor

JULY 1, 2016

In an unmistakable warning shot to mortgage servicers, the CFPB recently issued a “Mortgage Servicing Special Edition” of its Supervisory Highlights. The CFPB also updated portions of its Mortgage Servicing Examination Procedures. There are no excuses for not following federal rules.”

Technology 87

Technology Examples Tools System 87

FICO

FEBRUARY 7, 2023

Home Blog FICO Top 5 Scores Posts of 2022: Steady FICO Score, BNPL and Alternative Data 2022 marked the first year in over a decade the average FICO Score did not increase, while the industry’s attention remained on topics such as alternative data and BNPL. million previously “unscorable” consumer files. Read the full post 2.

Data 52

Data Lending Report National 52

PYMNTS

MARCH 14, 2017

Once one gets in, their SAT score is officially useless to them; a mortgage underwriter won’t ask about it, credit card companies don’t care about it, and while we can’t be sure that no employer on Earth would make a hiring decision on the basis of it, we are fairly sure that the list of those that do is vanishingly short.

Taxes 100

Taxes Report Data Lending 100

FICO

JUNE 30, 2023

Each time this topic was brought up, it gave me a chance to reinforce what the FICO® Score is and is not designed to do. Each time this topic was brought up, it gave me a chance to reinforce what the FICO® Score is and is not designed to do. auto, mortgage, personal loan) and lifecycles (e.g., originations). originations).

San Diego 52

San Diego Analytics Trends Conference 52

PYMNTS

JUNE 15, 2016

Or, if we were back in the good old “Fiddler On The Roof” days, the concept of the multi-sided platforms weren’t a driving topic of conversation. And one of those rapidly changing topics that’s caused a lot of stir recently has been the evolution of online P2P lending marketplaces.

Lending 100

Lending Regulation Innovation Operations 100

CFPB Monitor

JUNE 15, 2020

According to the agency’s press release , the final rule is designed to increase CRA-related lending, investment and services in low- and moderate-income (“LMI”) communities where there is significant need for credit, responsible lending, and greater access to banking services. On June 22, 2020, from 12:00 p.m. to 1:00 p.m.

Community 60

Community FDIC Lending Examples 60

CFPB Monitor

JULY 29, 2019

The CFPB advises in the ANPR that at the time the ability to repay rule was adopted in January 2013, it did not believe that a 43% DTI ratio represented the outer boundary of responsible lending, and that the mortgage market at the time was still fragile as a result of the prior decade’s mortgage crisis. Background.

Compliance 60

Compliance Marketing Regulation Meeting 60

CFPB Monitor

JULY 19, 2022

July has been designated as “Military Consumer Month,” a public-private marketing initiative created by state and federal agencies and military and consumer groups designed to draw attention to financial issues impacting the military community. A recording of the hearing is available here. .

Fraud 78

Fraud National Security social media 78

CFPB Monitor

SEPTEMBER 3, 2019

These documents are categorized by state, license, and topic, including: virtual currency; correspondence to mortgage broker; lender and originator licensees; money transmission; mortgage underwriting and processing; third-party payment processing; mobile home lending; and mortgage servicing.

Tools 60

Tools Industry Online Resources 60

PYMNTS

OCTOBER 26, 2017

How much of the U.S. population is financially vulnerable? That is, how many are walking the razor’s edge of solvency, and how many are on their second chance after a shock to their financial stability — such as job loss, work-related injury or a divorce that removed an income stream? More than you’d think, said Karen Webster.

How To 122

How To Survey Lending Millennials 122

CFPB Monitor

FEBRUARY 17, 2015

The 20 th Annual Consumer Financial Services Institute, sponsored by the Practising Law Institute, will take place on April 6-7, 2015 in New York City (and by live webcast and groupcast in Cleveland, Philadelphia, Pittsburgh, Mechanicsburg, PA and New Brunswick, NJ) and on April 27-28, 2015 in Chicago.

NJ 60

NJ New York City Cleveland Philadelphia 60

CFPB Monitor

JANUARY 12, 2021

The CFPB’s Taskforce on Federal Consumer Financial Law released its report making recommendations on how to improve consumer protection in the financial marketplace. The CFPB created the Taskforce in October 2019 to examine ways to harmonize and modernize federal consumer financial laws. The report consists of two volumes.

Report 78

Report Regulation Policies Compliance 78

Gonzobanker

JULY 28, 2014

While mortgage origination seems to be the hottest topic on the street today, GonzoLender also sees growing activity in the Consumer LOS area. While mortgage origination seems to be the hottest topic on the street today, GonzoLender also sees growing activity in the Consumer LOS area.

System 109

System Lending Data US 109

FICO

APRIL 28, 2022

BNPL loans are cited as a potential driver of greater financial inclusion, both in terms of consumer access to the BNPL loan themselves, as well as access to credit products that could enable unbanked and underbanked consumers to establish (or re-establish) their credit histories with one or more of the Consumer Reporting Agencies (CRAs). .

Report 98

Report Data Analysis Study 98

CFPB Monitor

MARCH 4, 2019

As we reported previously , the Economic Growth, Regulatory Relief and Consumer Protection Act (Act) subjects Property Assessed Clean Energy (PACE) financing to Truth in Lending Act (TILA) ability-to-repay (ATR) requirements under rules to be adopted by the CFPB.

Taxes 68

Taxes Regulation System Maine 68

CFPB Monitor

APRIL 7, 2016

On the panel from the CFPB were Anthony (“Tony”) Alexis (Assistant Director for Enforcement), Jeffrey Langer (Assistant Director for Installment Lending and Collections Markets), Diane Thompson (Managing Counsel, Office of Regulations), and Peggy Twohig (Assistant Director for Supervision Policy). Theodore R.

Lending 60

Lending Industry Trends Cards 60

PYMNTS

JULY 4, 2016

Uber, Google, Visa, Airbnb, Facebook, Westfield Malls, NASDAQ and Microsoft are all matchmakers who’ve cracked the code on getting a critical mass of customers on board. It takes years, sometimes even decades. Those stories from those who know it best are what PYMNTS brings you every Tuesday in its new video/audio series: The Matchmaker Is In.

Data 103

Data Lending Mobile Payments 103

CFPB Monitor

DECEMBER 10, 2015

Here, we will discuss the allegation the CFPB and certain consumer groups raise that the industry is “inherently deceptive.” Here, we will discuss the allegation the CFPB and certain consumer groups raise that the industry is “inherently deceptive.” Companies pay for access to consumers. Theodore R.

Online 60

Online Comparison Lending Operations 60

Gonzobanker

DECEMBER 22, 2020

The big topic was the impending war for deposits. Financial institutions went from having no PPP lending program at all to funding their first loan in 90 days – and this with literally last-minute regulatory guidance. “This Year was brought to you by the number 2020 and the letters W, T and F” – Big Bird (more or less).

Idaho 183

Idaho Community Industry Strategy 183

Independent Banker

JUNE 30, 2022

But there are ways community banks can help mortgage-seekers get on the property ladder. I don’t think the issue is a lack of financing alternatives,” says Ron Haynie, ICBA’s senior vice president of mortgage finance policy. That increase in mortgage rates has a big impact on what a buyer can afford, notes Haynie. “So,

Community Bank 143

Community Bank Community Millennials Resources 143

PYMNTS

NOVEMBER 14, 2017

Online consumer lending – in a variety of forms – has grown explosively over the last decade. The Cleveland Federal Reserve Bank captured a lot of headlines with the release of its online lending study – particularly due to its use of the words “predatory” and “needs additional regulation.”

Study 101

Study Lending Cleveland Online 101

Gonzobanker

FEBRUARY 11, 2015

A program that resides somewhere in the financial group from which we have to look at reports every six months or so that allows the CFO to make any line of business or office profitable or unprofitable based on how he/she does transfer pricing. And you know what? There is some truth to that answer. We all know it. Profitability systems.

System 60

System Risk Management Management Lending 60

Gonzobanker

DECEMBER 19, 2017

Heavy core conversions weighing us down. FinTech threats and distractions. Payments chaos. Heavy-handed regulators. Endless CRM and data management projects that shook our foundations and gutted our PMOs. Well, you can cross the last one off your list, because THE AWARDS ARE HERE. THE BANKING AWARDS. Rick” Callicutt II, BNC’s CEO.

Conference 117

Conference Industry Community Bank Community 117

CB Insights

AUGUST 23, 2018

Live briefing: Consumer Banks in The Digital Age. Learn about the playbooks of today’s top banks as they digitally re-position their consumer products. Learn about the playbooks of today’s top banks as they digitally re-position their consumer products. Its retail bank, Chase, spans 61 million American households.

Cards 76

Cards Mobile Strategy Branding 76

CFPB Monitor

SEPTEMBER 11, 2018

a small-dollar lender, regarding the Bureau’s allegations that Triton had violated the Truth in Lending Act and the CFPA’s UDAAP prohibition by underdisclosing the finance charge on auto title pledges entered into with consumers.). .” The webinar registration form is available here. This was found to be an unfair practice.

Lending 68

Lending Policies Compliance Cards 68