Guidance regarding brokers shifting to “mini-correspondent” model
The Bureau of Consumer Financial Protection (CFPB or Bureau) is issuing
supervisory and enforcement guidance entitled “Policy Guidance on Supervisory and
Enforcement Considerations Relevant to Mortgage Brokers Transitioning to Mini-Correspondent
Lenders,” (Policy Guidance) which relates to the Bureau’s exercise of its authority to supervise
and enforce compliance with RESPA and Regulation X and TILA and Regulation Z in certain
transactions involving “mini-correspondent lenders.”
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