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Articles by Jonathan Bundy

Caution

Beware Mortgage Servicing Rule Pollyanna

CFPB mortgage rule exclusion for small servicers is not a free pass.
March 22, 2013
Jonathan Bundy
2 Comments
Collective sigh of relief over small servicer exemption is premature.
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Mortgage almanac sm

Get Your 2013 Mortgage Lending Almanac

Give your compliance manager a work-appropriate hug—it’s going to be a rough year.
February 7, 2013
Jonathan Bundy
No Comments
New rules will recast mortgage lending from application to servicing.
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May Cover

Credit Union Magazine

• May digital edition

May 2013

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Look into the Future of Finance

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Recent Discussion

In remembering Warren, the first thing I think of was his smile. He was a gentle, caring man who always thought of others first. I was honored to be a part of the MiOpportinidad project with Affinity Credit Union, Warren and Miriam. His hard work and dedication to that project was inspirational. Warren so deserves this award.

The author really understands the credit union philosophy and I really enjoyed the analogy of his bathroom remodel. The only thing missing was pictures of the finished bathroom! :)

Thank you Phillip for showing the differences between a Big Bank that is only looking to sell you products and a Credit Union that actually looks out for its members needs. Great article!

I love and give a standing ovation to Ron Kase and to other caring people just as much as those who passed away on 2012 like Warren Morrow at Des Moines Iowa. He worked hard for those who are under-served an under-represented, but wasn't mentioned in your magazine. It may be beneficial for the entire world to know about his accomplishments no for his benefit, obviously, but to increase the number of positive and caring people and to add members the CU. Just ask Coopera Consulting at Des Moines Iowa about Warren Morrow's legacy.

That’s right Lisa. The servicing rule would not require a credit union to create its own policies and procedures if all aspects of the servicing are delegated to a sub-servicer. However, remember that the credit union will have to conduct due diligence on the sub-servicer to make sure it is following the minimum requirements for policies and procedures. Unfortunately, even those credit unions that use a third party servicer will need to have a working knowledge of the CFPB’s servicing rule.

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