Posted by ikando on 10/2/12 8:26am
Msg #436776

Another profession impacted by CFPB

Discussions on this forum recently have related to the requirements put upon notaries to provide information under the guise of hiring parties' compliance with CFPB. Title Agents are also impacted, and I'm posting here what they are doing. Perhaps this may be a starting off point for us NSAs.

http://www.nailta.org/

Posted for discussion only. I haven't made up my mind which way I want to go, but I know I'm beginning to feel more like an employee than an independent contractor.

Reply by ArtG/KS on 10/2/12 9:23am
Msg #436784

An analysis of pre-CFPB followed by the current barage of rule-making takes this to an absolute level of over-regulation. It will stifle this and related industries IMMHO.

Add to this another layer of quantitative easing by government requlatitive pushers and we see a destabilazation of the entire monetary system both here and overseas far beyond the current mess. QE is a dangerous path to run-away inflation again IMMHO. What else is going to trample us? See what happens tax-wise next calendar year 2013.

I also note that Nailta's conferance concludes today Oct 2, 2012 and it will be interesting to read their report and planned actions if any. Lenthy details make posting findings here not possible, but I will try later to state what will happen if that can be determined early on.

Reply by HisHughness on 10/2/12 11:45am
Msg #436803

Wow! One could almost detect a political agenda here. n/m

Reply by JanetK_CA on 10/2/12 2:02pm
Msg #436825

Thanks for your restraint, Hugh. I know it wasn't easy. ;>)

I agree that some of Art's comments belonged in JP. I also agree with jnew that this is a topic that potentially affects us and does belong here. However, I'm sure I'm not the only one who would appreciate it if *everyone* showed some restraint regarding political commentary on the issue.

Reply by jnew on 10/2/12 1:45pm
Msg #436818

Is this perhaps "the deep pocket theory"? Independent agents might not have the financial strength to pay significant fines for violations. Adding regulations usually results in negative affects for many small businesses. The big banks might also want to shift the financial burden of compliance to their vendors. This matter could be considered political, depending how you feel about government regulation, but it is a matter for discussion here if it is going to affect our businesses.

Reply by Wendy/OH on 10/2/12 2:51pm
Msg #436846

I do not see a political agenda here, just needed info and I appreciate the sharing.

Reply by HisHughness on 10/2/12 5:12pm
Msg #436888

Been to the optometrist lately, Wendy?

You see no political agenda? What is this?

***the current barage of rule-making takes this to an absolute level of over-regulation.***

***another layer of quantitative easing by government requlatitive pushers and we see a destabilazation of the entire monetary system both here and overseas far beyond the current mess***

***What else is going to trample us? See what happens tax-wise next calendar year 2013.***

Everything he had to say about those matters that impact our profession could have been said without the rightwing bent.

Reply by ArtG/KS on 10/2/12 7:03pm
Msg #436896

Re: Been to the optometrist lately, Wendy?

Its not intended to be political. Purely how this may affect business and I do try to analyze the effects of rule making on my business. Right wing, left wing I wish we could define truth wing!

Reply by Barb25 on 10/2/12 4:46pm
Msg #436881

I need to start a war on Acronyms. I may know what this is

but I do not recognize CFPB. So help me out here. If I should recognize this, I can only apologize, I am just getting used to LMAO and ROFLMAO. So hopefully you will bear with me. I do however recognize NSAs.

Reply by ikando on 10/2/12 5:12pm
Msg #436887

Re: I need to start a war on Acronyms. I may know what this is

Barb, CFPB stands for Consumer Financial Protection Bureau, a government entity "to make markets for consumer financial products and services work for Americans — whether they are applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products." according to their website.

Here's a link to their site: http://www.consumerfinance.gov/the-bureau/

Reply by Barb25 on 10/2/12 5:48pm
Msg #436892

Re: I need to start a war on Acronyms. I may know what this is

Thanks. Some days I think I have a clue. Other days not so much. Nice to know you guys are out there to fill in the blanks. LOL.