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Given the notable shift in the regulatory environment, it is inter-
esting to consider how the mortgage origination business may be
affected in 2017 and beyond. While originators are not anticipating
any new Consumer Financial Protection Bureau (CFPB) regula-
tory measures that would affect them this year, they continue to wait
for clarifications associated with proposed amendments to RESPA-TILA. However,
due to the political sea change that has occurred since the election of the new U.S.
president, the wait may be longer than expected. is potential detour, combined with
other regulatory challenges as well as technological opportunities, begs the question:
What lies ahead for mortgage originators?
CFPB: THE REGULATORY ROAD
On January 20, 2017, President Donald
Trump's Chief of Staff Reince Priebus issued a
memo directing a moratorium with respect to
regulations issued by executive agencies. is
excludes independent agencies, which until
recently included the CFPB. However, a recent
decision by a three-judge panel of the U.S.
Court of Appeals for the D.C. Circuit found
the CFPB's structure unconstitutional since
I N D U S T R Y I N S I G H T / R I C H G A G L I A N O
With an uncertain regulatory environment,
new data requirements, and promising
technological opportunities all intersecting,
mortgage originators face a winding road as
they navigate through 2017.
