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Author Archives: Jaspreet Kaur

House Passes Bill to Increase HMDA Reporting Threshold

On January 18, the House moved forward legislation that would exempt many credit unions, community banks, and small lenders from specific Home Mortgage Disclosure Act (HMDA) reporting requirements. The House passed H.R. 2954 by a 243 – 184 vote. The resolution increases the threshold of mortgage originations that must be reached to trigger HMDA reporting. Current law requires that lenders […]

What’s Coming for the Loan Originator Compensation Rule: The Dodd-Frank watchdog agency has radically affected the residential mortgage loan origination business.

The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) has had a tremendous impact on the financial services industry since its passage in 2010. The law, drafted as legislation aimed at protecting consumers, has unintentionally (or perhaps intentionally) disrupted the daily operations of businesses from Wall Street to Main Street. One aspect that is radically affected […]