Mortgage brokers making the transition to the mini-correspondent model can learn more about the Consumer Financial Protection Bureau's (CFPB) new criteria in evaluating mortgage transactions executed under the mini-correspondent designation during a series of webinars planned by Titan Lenders Corp.
The weekly webinar series is designed to educate mini-correspondents on meeting the CFPB's new requirements through general fulfillment.
In response to concerns that brokers were adopting the mini-correspondent designation in name only to avoid the broker compensation rules passed by the CFPB earlier this year. the bureau issued its ‘Policy Guidance on Supervisory and Enforcement Considerations Relevant to Mortgage Brokers Transitioning to Mini-Correspondent Lenders.’
‘Mini-correspondents represent an important step in the broker-to-banker transition process,’ says Mary Kladde, president of Titan Lenders, in a release. ‘The CFPB's guidance is designed to preserve the sanctity of this designation, and Titan is equally as committed to supporting this vital channel, as it has always done, through our general fulfillment services.’
The first of the webinars is scheduled for 12 noon, ET, Wednesday, Sept. 17. To register, click here.