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Gerald Sachs was quoted on January 24, 2018, in an article about CFPB Acting Director Mick Mulvaney's impact on regulatory relief and easing of enforcement activity for the bureau.

Sachs said, "Mortgage rules would be amended or revised to lessen the regulatory burden, clarify industry concerns or issues, and allow more access to credit." He continued to say that the industry may see supervisory activity continue, to a certain extent, "because supervisory examinations of mortgage origination and servicing companies are relatively routine and remain confidential."

However, the industry may see fewer enforcement actions stemming from supervisory oversight. Sachs said, "Enforcement may become a process of last resort, in that the law violation is so clear and apparent that it must become a public enforcement action."

Ultimately, "the biggest thing for the industry is that enforcement will not be the tip of the spear anymore," said Sachs. "The CFPB may start to operate more like the prudential banking regulators, at least for supervised entities, where the supervisory side examines and then determines whether there should be an enforcement determination based on a multitude of factors."