CHLA submits a formal comment letter on the draft regulations to implement the Illinois CRA law for IMBs – including a proposal to increase minority and low-income loan originators and changes to reflect the IMB business model

CHLA send a letter to ICE Mortgage Technology President Bowler reiterating a request in a December letter for ICE user seat charges to decrease when user seats decrease, just like they increase when user seats increase for an IMB. The letter notes this is the type of practice that led CHLA to oppose ICE’s proposed purchase of Black Knight.

The Community Home Lenders of America (CHLA) formally submitted a comment letter to the CFPB, asking for: (1) safe harbor compliance status for IMBs that comply with NMLS reporting requirements for agency and court orders, and (2) an exemption for all but the largest IMBs from a proposed new requirement to designate a senior executive responsible for compliance with such orders.

The Community Home Lenders of America (CHLA) sent a formal comment letter to the CFPB, asking for an exemption from the rule’s requirements to submit form contracts that might waive consumer legal actions, citing existing Dodd-Frank rules prohibition arbitration and other actions limiting consumer rights on mortgage loans.