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Cordray testifies before House, discusses ability to repay rule, impact on title
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Tuesday, September 17, 2013
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Richard Cordray, director of the Consumer Financial Protection Bureau, (CFPB) said he would consider dropping the word “optional” in regards to title insurance in the soon-to-be-released mortgage disclosures rule on Sept. 12 as he testified in front of the U.S. Financial Services Committee for the first time since the senate officially confirmed him as CFPB director.
The American Land Title Association worked with Congressmen Gary Miller (R-CA), Ed Perlmutter (D-Co) and Randy Hultgren (R-WI) to pose questions to Cordray regarding the language of the title insurance section.
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