The CFPB recently published a report on its “Know before you Owe” E-closing project.  The report concluded that borrowers can benefit from electronic closings when navigating the mortgage closing process, the results indicating that those who closed their mortgage using an electronic platform are generally better off on measures of understanding, efficiency, and feeling empowered.  “Our […]

The FTC recently announced it entered into two consent orders with car dealers doing title lending, alleging that these dealers failed to disclose the terms and conditions of the loans to consumers and misrepresented material terms of its loan agreements.   Title lenders need the protection that SecureClose offers.  Our product provides title loan customers with […]

A June 14th editorial about CFPB oversight of the auto industry appearing in the NY Times contained this gem: “Most auto profits are made not by selling cars but by making auto loans that often contain hidden finance charges and other essentially useless add-ons like credit insurance. Take dealer interest rate mark ups….” First, does […]

On June 10, 2015 the CFPB Published their Exam Procedures for the “Larger Participant Rule”. An Excerpt from the release: “Auto loans and leases are among the most significant and complex financial transactions in a typical consumer’s life” Richard Cordray, Director of Consumer Financial Protection Bureau – June 10, 2015 “The Bureau would be concerned if consumers […]