Information on Lender Vetting

As you know there are many changes happening because of the rules promulgated by the CFPB. Lenders across the country are now on the hook for all parts of the mortgage process, and many of them are personally vetting everyone they work with. You need to be aware of your responsibilities and how this will affect the lenders you work with. Melissa Murphy addresses members concerns’ in this short video.

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Total Running Time 3:38

Lenders are reacting to their increased level of responsibility under the new CFPB rules by vetting the people and businesses that are involved in the closing process for residential real estate. Many Members have been contacted by lenders or third parties and asked to provide varying amounts of information about their business, including personal information. Melissa J. Murphy addresses options on how to respond to these inquiries.