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Mortgage companies pull out of MSAs
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Industry News, Regulatory Updates
Thursday, July 30, 2015
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Two mortgage companies have made announcements that they are pulling out of all marketing services agreements, citing increasing regulatory uncertainty surrounding regulatory oversight of these arrangements. Other mortgage companies may soon follow suit. Reaction from the industry and the Consumer Financial Protection Bureau shows the broad reach of the decisions. “This will greatly impact the relationship between the players in the industry,” one said. Read on for the details, and stayed tuned to The Legal Description to find out how to remain compliant with the changing landscape, as well as expected announcements to come over MSAs and new guidance for TRID.
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