CFPB to Shine Spotlight On Mini-Correspondent Mortgage Lending?

By | CFSL Bulletin | July 18, 2014
CFPB to Shine Spotlight On Mini-Correspondent Mortgage Lending?

On July 9, 2014, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued Policy Guidance on the issue of Mortgage Brokers Transitioning to Mini-Correspondent Lenders (“Policy Guidance”), which highlights risks and considerations that should be taken into account by brokers who may be considering or venturing into the mini-correspondent channel.