Reminder: Two Mortgage Rules are Effective on June 1, 2013

Two important mortgage rules take effect June 1, 2013. They concern higher priced mortgage loan escrow accounts and mandatory arbitration agreements.

CFPB Temporarily Delays Prohibition on Financincing of Single Premium Insurance

The CFPB has issued a proposed rule that temporarily delays the effective date on the prohibition on creditors financing single-premium credit insurance products.

Robert Siravo Fined $600,000, Banned from Federally Insured Credit Union Employment

WesCorp’s former CEO has been slapped with a prohibition order and a $600,000 fine by the National Credit Union Administration. The move closes another chapter in the corporate failure saga that cost credit unions billions and called into question the regulator’s oversight during the collapse.