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IT, AE Jobs; Jumbo, Origination, Productivity Tools; Thoughts on the CFPB Nominee; Training and Events Jan 19 2021, 7:56AM Sometimes running a mortgage compliance department can seem like this short clip Indiana’s Carol K. sent along. Yet there is value in compliance, and it is good that lenders and servicers are much more cognizant of rules and regulations than we were 12-14 years ago, along with requiring that borrowers have the ability to repay a loan. President-elect Joe Biden will nominate Rohit Chopra to be the next director of the Consumer Financial Protection Bureau. He is a strong consumer advocate, aligned with Senator Elizabeth Warren, lifelong friend of banks everywhere. (Snort.) There is value provided to consumers by the CFPB, and we’ll see a lot of that in the next four years. Individuals and companies are hard at work finding value out there, whether it is uncovering borrowers with high rates to refinance or investment banks finding value in companies, like JPMorgan providing a $100M financing facility for blockchain mortgage platform Figure. Value, value, value.
deposition, the robo-signers and what did you learn. >> i look to attorneys who took depositions of robo sirens and they worked with the loan servicers and sign-off on the foreclosure and here's the problem, bill. these people had no real legal training, no mortgage training, they had been formerly walmart employees, waitresses, cleaned houses for a living. and some believe it or not had even been living -- homeless. so, these banks had hired these people without giving them adequate training and didn't know what they were doing and the depositions, they detailed how they signed their names over and over and over again without really going through the paperwork, checking to be sure it was right and everything was there that was supposed to be there. bill: good work if you can get it, i guess. and, this is a serious matter, all kidding aside and i believe they are talking about specific banks, three of them, bank of america, jp morgan, and a third. what is the impact on the music market and the economy?