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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