Observations On CFPB's Mortgage Reform Initiative

Law360, New York (August 7, 2012, 1:40 PM EDT) -- On July 9, 2012, the Consumer Financial Protection Bureau finally began its long-awaited regulatory overhaul of the U.S. residential mortgage market. From application processing to the ultimate disposition of mortgage assets in the secondary market, over the next six months the CFPB will completely revise how the home mortgage system functions.

The Dodd-Frank Wall Street Reform and Consumer Protection Act created the CFPB and consolidated various rulemaking and supervisory authorities in the agency, including the authority to implement new requirements under several existing federal mortgage laws....
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