Logo

CFPB, UDAAP and the Focus on Junk Fees - Shared screen with speaker view
Bob Mansur, CMB, AMP
45:17
Written communication with consumers obviously leaves an undeniable trail the CFPB can follow to determine unfairness, deception, and abuse. On the other hand, is verbal communication essentially treated as "she said, he said" when it comes to enforcement?
Bob Mansur, CMB, AMP
59:54
Has the MBA produced a position paper in response to this new focus on "junk fees"? If yes, how can we get a copy of it?
Brian McCown, CMB
01:00:59
MBA link on letter to CFPB https://www.mba.org/docs/default-source/residential-policy-letters/mba-letter-on-fees-rfi-(final)-4.11.22.pdf?sfvrsn=ddf95f4e_3
Bob Mansur, CMB, AMP
01:01:59
Thank you, Brian. Looks like Pete Mills has been busy.
Justin Wiseman
01:02:00
Thanks Brian--you beat me to it! Our letter is the best source for our arguments I discussed and can be found at that link.
Justin Wiseman
01:04:31
You can find the joint trades letter here: https://www.mba.org/docs/default-source/residential-policy-letters/res_pol_letter_joint_trades_response_to_cfpb_fees_rfi_cfpb-2022-0003_april2022.pdf?sfvrsn=1c4806f8_1
Layne Bussell
01:19:30
Would disclosure of fees by the servicer once a loan is sold / transferred to a new servicer provide any cover / protection
Rain Piechnik, CMB, AMP
01:20:38
What are your thoughts on lenders increasing appraisal fees after the LE has been disclosed? Some lenders allow this and some do not as a change of circumstance?
Cole Bird
01:26:45
You could provide any background to why late fees are being considered late fees?
dalia.vazquez@freedommortgage.com
01:26:48
Thank you everyone, great information!
rhonda.hilsendeger
01:26:49
Fuel charge
Cole Bird
01:26:57
Consider junk fees*
uwheeler
01:28:31
Thank you as this was great information.
Cole Bird
01:30:34
Thank you for the insight.
Felicia Mullison
01:30:57
Thank you Mitch!
Bob Mansur, CMB, AMP
01:31:17
Really appreciate these insights. Thank you, gentlemen and Danielle.
Pam Padgett
01:31:33
Thank you - very informative!
Margot Martinez
01:31:37
Thank you All.
latasha.alvarez
01:31:40
Thank you!
Patricia O'Connell
01:31:41
Thank you