August 23, 2019

Consumer Financial Protection Bureau Regulations and their Impact on Real Estate Transactions

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 created the Consumer Financial Protection Bureau (CFPB), a federal agency charged with regulating consumer protection for United States financial products and services. According to the CFPB website, the group is focused on one goal: “watching out for American consumers in the market for consumer financial products and services.”

In order to achieve its goal of consumer protection, the CFPB has promulgated many rules and regulations since its inception in 2011. Prior to the creation of the CFPB, there were many agencies regulating financial transactions, but some non-bank lending institutions were federally unregulated, such as pay day loan companies, private mortgage lenders, debt collectors, credit reporting agencies, and private student loan companies. These types of lenders are now covered by the new CFPB regulations.

The CFPB regulations have had a significant impact on real estate transactions. The scope of the regulations is surprisingly broad. Attorneys, real estate brokers, and mortgage loan originators especially are affected by the changing regulatory climate propounded by the CFPB.

A half-day CLE program is going be held on September 27 to clarify the CFPB’s new rules and how they will affect residential mortgage lending. Members of the faculty include Debra Still, President and CEO of Pulte Mortgage, Terry Jones of Cherry Creek Mortgage Company, Joey Lubinski of Ballard Spahr, Craig Wildrick of Zions Bancorporation and Tom DeVine of Holland & Hart. If you are involved in any aspect of mortgage lending, or have clients who are, this is an important program to attend.

CLE Program:  The New Consumer Financial Protection Bureau Regulations: What Do They Mean for Your Clients

This CLE presentation will take place on September 27, 2013, in the CLE Large Classroom. Click here to register for the live program and click here to register for the live webcast.

Can’t make the live program? Click here to order the homestudy.

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