Rod Alba from the ABA joins me again and talks about what we should expect in the days and months going forward with new acting CFPB director Mick Mulvaney. Mick is a staunch conservative with disdain for the Bureau, questioning not only the Constitutional nature of its structure but also it's "absurd rules". How will he change it? What's ahead in the next 12-18 months?
Washington, DC-based Rod Alba (senior counsel with the American Bankers Association) joins me to discuss next steps for the Consumer Financial Protection Bureau in the wake of yesterday's resignation of Director Richard Cordray. Will this important change signal the end of the Bureau's current agenda and usher in a new era of relaxed enforcement? Find out what we should expect.
Listen in as we continue our discussion with Jerra about the cross-qualification problem. In our last podcast, we learned about the cross-qual conundrum. Now, you'll learn how to educate your LOs about the right way to handle them.
Cross-Qualification = when the listing agent demands that your loan officer send a borrower's personal financial information, credit report and/or AUS findings to a competing lender prior to submitting an offer...or something like that.