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CFPB Fines Lender over Expense Accounts

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Posted To: MND NewsWire For the second time this week the Consumer Financial Protection Bureau (CFPB) has filed in federal court against a lender for unfair compensation practices . Today’s complaint was levied against RPM Mortgage, Inc. and its CEO, Erwin Robert Hirt, for illegally paying bonuses and higher commissions to loan originators to incentivize them to steer consumers into…

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Down Payments: Percentages Trend Lower as Amounts Rise

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Posted To: MND NewsWire Are those sought-after first-time homebuyers finally re-emerging? RealtyTrac said on Thursday that they may be the reason that the average percentage of down payments used to purchase single-family homes, condos, and townhomes in the first quarter of 2015 was at the lowest level in three years. On average homebuyers put down 14.8 percent of their home’s…

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CFPB Targets LO Comp, Captive Insurance, and Reverse Mortgages; Upcoming Events

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Posted To: Pipeline Press Huh? National Donut Day? Most donut shops have a few employees, but in 2013 our Census Bureau tells us there were 23 million businesses without paid employees , an increase of 4.4 million since 2003. Non-employer businesses included family-run businesses to home-based commentary writers. Florida had the largest increase in non-employer businesses, especially in the real…

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