CFPB Exeam - What can we expect?

Posted By: OldSchoolBanker

CFPB Exeam - What can we expect? - 03/05/15 12:24 PM

We are scheduled for a CFPB exam later in 2015. HAs anyone experienced first hand, an exam from the CFPB? If so, can you share general info as to what level of detail we can expect them to dig relative to mortgage banking? I understand you cannot discuss any specific details of your exam.

Do they review loan files for ATR/QM, RESPA, TILA etc?

Posted By: LisSinToMe

Re: CFPB Exeam - What can we expect? - 03/13/15 10:08 PM

Don't know if you still are needing an answer but the CFPB issued a "Supervisory Highlights of CFPB Exams" bulletin this morning which discusses the most found violations Winter 2014/2015. No guarantees...but I would lay money on them looking at these things when they do exams in the Spring!

The bulletin is posted on the CFPB website
Posted By: OldSchoolBanker

Re: CFPB Exeam - What can we expect? - 03/18/15 12:30 PM

Thanks for the response.