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Two Magazine Articles
The Regulatory Burdens of Dodd-Frank
Consumer Privacy and Confidentiality
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Greetings!
You may be interested in reading my two magazine articles: 
The Regulatory Burdens of Dodd-Frank
and Consumer Privacy and Confidentiality
They are published in the National Mortgage Professional Magazine. (Free Subscription to our Clients and Subscribers.)I have provided an excerpt from each article and the download link. As we continue to undergo profound regulatory changes in mortgage banking, it is more important than ever to remain vigilant of pending changes and be ready to implement reliable risk management practices. I hope you enjoy these articles. Please feel free to contact me at any time.
Regards,
Jonathan Foxx
President and Managing Director |
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Excerpt
The Regulatory Burdens of Dodd-Frank
Let it not be said that regulations are ever 'easy enough' to implement in these post-Crash times!
Of course, this view presupposes that we know which regulations to factor in and which ones to factor out. It presupposes that we know which ones are relevant and which ones do not apply. It presupposes that we are in a position to keep track of new regulatory requirements, how they impact existing regulations, and how they supersede existing regulations. And it presupposes that we have sufficient time, resources, and focused energy to implement the regulations, without putting a deep drain on the already compressed margins caused by a real estate market in free fall and a loan origination market with low interest rates that have only one way to go - up!
The other day a good friend and long time client of ours, when considering all the new regulations his publicly traded firm is implementing and would have to put in place due to the Dodd-Frank Act, blurted out to me in a paroxysm of frustration: "What have we done to deserve this?" Indeed.
So, just how burdensome a burden is the Dodd-Frank regulatory burden?
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Excerpt
Consumer Privacy and Confidentiality
On March 26, 2012, the FTC issued a final report of 112 pages, setting forth best practices for businesses to protect the privacy of American consumers and give them greater control over the collection and use of their personal data.
In the report, Protecting Consumer Privacy in an Era of Rapid Change: Recommendations for Businesses and Policymakers (Report), the FTC also recommends that Congress consider enacting general privacy legislation, data security and breach notification legislation, and data broker legislation.
The Report follows a preliminary staff report that the FTC issued in December 2010. The preliminary report proposed a framework for protecting consumer privacy with respect to the new communication technologies of this century. | BACK
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LENDERS COMPLIANCE GROUP is the first full-service, mortgage risk management firm in the United States specializing exclusively in outsourced mortgage compliance and offering a full suite of services in residential mortgage banking for banks and non-banks. We are pioneers in outsourcing solutions for residential mortgage compliance. We offer our clients real-world, practical solutions to mortgage compliance issues, with an emphasis focused on operational assessment and improvement, benchmarking methodologies, Best Practices, regulatory compliance, and mortgage risk management.
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Information contained in this email is not intended to be and is not a source of legal advice. The views expressed are those of the contributing author, as well as news services and websites linked hereto, and do not necessarily reflect the views or policies of Lenders Compliance Group, any governmental agency, business entity, organization, or institution. Lenders Compliance Group makes no representations concerning and does not guarantee the source, originality, accuracy, completeness, or reliability of any statement, information, data, finding, interpretation, advice, opinion, or view presented herein.
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