Podcasts about townstone financial

Our podcast show being released today is Part 2 of our two-part series featuring two former CFPB senior officers who were key employees in the Enforcement Division under prior directors: Eric Halperin and Craig Cowie. Eric Halperin served as the Enforcement Director at the CFPB from 2010 until former Director, Rohit Chopra, was terminated by President Trump. Craig Cowie was an enforcement attorney at the CFPB from July 2012 until April 2015 and then Assistant Litigation Deputy at the CFPB until June 2018. Part 1 of our two-part series was released last Thursday, June 12.  The purpose of these podcast shows were primarily to obtain the opinions of Eric and Craig (two of the country's most knowledgeable and experienced lawyers with respect to CFPB Enforcement) about the legal and practical impact of (i) a Memo to CFPB Staff from Mark Paoletta, Chief Legal Officer, dated April 16, 2025, entitled “2025 Supervision and Enforcement Priorities” (described below) which rescinded prior priority documents and established a whole new set of priorities which in most instances are vastly different than the Enforcement Priority documents which guided former directors,  (ii) the dismissal without prejudice of the majority of enforcement lawsuits that were pending when Acting Director Russell Vought was appointed to run the agency, and (iii) other drastic steps taken by CFPB Acting Director Russell Vought to minimize the functions and staffing at the agency. That included, among other things, an order calling a halt to all work at the agency, including the pausing of ongoing investigations and lawsuits and the creation of plans by Vought to reduce the agency's staff (“RIF”) from about 1,750 employees to about 250 employees (including a reduction of Enforcement staff to 50 employees from 258). We described in detail the 2025 Supervision and Enforcement Priorities as follows: ·       Reduced Supervisory Exams: A 50% decrease in the overall number of exams to ease burdens on businesses and consumers. ·       Focus on Depository Institutions: Shifting attention back to banks and credit unions. ·       Emphasis on Actual Fraud: Prioritizing cases with verifiable consumer harm and measurable damages. ·       Redressing Tangible Harm: Concentrating on direct consumer remediation rather than punitive penalties. ·       Protection for Service Members and Veterans:Prioritizing redress for these groups. ·       Respect for Federalism: Minimizing duplicative oversight and coordinating with state regulators when possible. ·       Collaboration with Federal Agencies: Coordinating with other federal regulators and avoiding overlapping supervision. ·       Avoiding Novel Legal Theories: Limiting enforcement to areas clearly within the Bureau's statutory authority. ·       Fair Lending Focus: Pursuing only cases of proven intentional racial discrimination with identifiable victims and not using statistical evidence for fair lending assessments. Key Areas of Focus: ·       Mortgages (highest priority) ·       FCRA/Regulation V (data furnishing violations) ·       FDCPA/Regulation F (consumer contracts/debts) ·       Fraudulent overcharges and fees ·       Inadequate consumer information protection Deprioritized Areas: ·       Loans for "justice involved" individuals ·       Medical debt ·       Peer-to-peer lending platforms ·       Student loans ·       Remittances ·       Consumer data ·       Digital payments We also described the status of a lawsuit brought by the union representing CFPB employees and other parties against Vought seeking to enjoin him from implementing the RIF. The Court has granted a preliminary injunction which so far has largely prevented Vought from following through on the RIF. The matter is now on appeal before the DC Circuit Court of Appeals and a ruling is expected soon. These podcast shows complement the podcast show we released on June 5 which featured two former senior CFPB employees, Peggy Twohig and Paul Sanford who opined about the impact of the April 16 Paoletta memo and proposed RIF on CFPB Supervision. Eric and Craig considered, among other issues, the following: 1.  How do the new Paoletta priorities differ from the previous priorities and what do the new priorities tell us about what we can expect from CFPB Enforcement? 2.  What do the new priorities tell us about the CFPB's new approach toward Enforcement priorities? 3.  What can we learn from the fact that the CFPB has dismissed without prejudice at least 22 out of the 38 enforcement lawsuits that were pending when Vought became the Acting Director?  What types of enforcement lawsuits are still active and what types of lawsuits were dismissed? 4.  What are the circumstances surrounding the nullification of certain consent orders (including the Townstone case) and the implications for other consent orders? 5. Has the CFPB launched any new enforcement lawsuits under Vought? 6. What level and type of enforcement is statutorily required? 7.  Realistically, what will 50 employees be able to do in the enforcement area? 8. What will be the impact of the Supervision cutbacks be on Enforcement since Supervision refers many cases to Enforcement? 9.  Will the CFPB continue to seek civil money penalties for violations of law? 10.  What types of fair lending cases will the CFPB bring in the future?11.  Will Enforcement no longer initiate cases based on the unfairness or abusive prongs of UDAAP? Alan Kaplinsky, former practice group leader for 25 years and now Senior Counsel of the Consumer Financial Group, hosts the podcast show. Postscript: After the recording of this podcast, Cara Petersen, who succeeded Eric Halperin as head of CFPB Enforcement, resigned abruptly on June 10 from the CFPB after sending out an e-mail message to all its employees (which was shared with the media) which stated, in relevant part: “I have served under every director and acting director in the bureau's history and never before have I seen the ability to perform our core mission so under attack,” wrote  Petersen, who had worked at the agency since it became operational in 2011. She continued: “It has been devastating to see the bureau's enforcement function being dismantled through thoughtless reductions in staff, inexplicable dismissals of cases, and terminations of negotiated settlements that let wrongdoers off the hook.” “It is clear that the bureau's current leadership has no intention to enforce the law in any meaningful way,” Petersen wrote in her e-mail. “While I wish you all the best, I worry for American consumers.” During this part of the podcast show, we discussed the fact that the CFPB has entered into agreements with a few companies that had previously entered into consent agreements with former Director Chopra. After the recording of this podcast, the Federal District Court that presided over the Townstone Financial enforcement litigation involving alleged violations of the Equal Credit Opportunity Act refused to approve the rescission or undoing of the consent agreement based on Rule 60(b)(6) of the Federal Rules of Civil Procedure because of the strong public policy of preserving the finality of judgments.

Shaun has a hard time making peace. PLUS, Ashley Levine, attorney in Pacific Legal Foundation's Separation of Powers group, tells Shaun about Townstone Financial and Barry Sturner's lawsuit against the CFPB's illegal power grab and racial equity agenda. Shaun talks to John Adams of Liberty Cigar Company about their cigars and our upcoming Cigar Nights next week! And Shaun talks to Uri Kaufman, author of American Intifada: Israel, The Gaza War and the New Antisemitism, about the disturbing developments with Syria, the future of Gaza, and President Trump's Middle East visit.See omnystudio.com/listener for privacy information.

Ashley Levine, attorney in Pacific Legal Foundation's Separation of Powers group, tells Shaun about Townstone Financial and Barry Sturner's lawsuit against the CFPB's illegal power grab and racial equity agenda.See omnystudio.com/listener for privacy information.

Big Balls speaks 11:26- NPR CEO Katherine Maher: seeking the truth is a distraction to getting things done 34:04- How ICE is actually doing i 51:27- WHY DP IS SINGLE 1:15:04- Barry Sturner, president and CEO of Townstone Financial, is grateful to be vindicated by the Trump administration 1:34:55- President of Caring Network, Kirt Wiggins, expresses Caring Network's mission to care for women facing unexpected pregnancies, to restore those who’ve already been hurt by abortion — and to mobilize God’s people for the work of life A gift of $150 can help Caring Network reach 5 women who are considering abortion. To make that gift, just go to 560TheAnswer.com/caring 1:49:24- Founder, CIO Perry International Capital Partners, LLC, James Perry, with a positive economic outlook and the April jobs numbers For uncompromising independence and a healthy skepticism of market narrative perryinternationalcapitalpartners.com 2:03:11- OPEN MIC FRIDAY!!See omnystudio.com/listener for privacy information.

In this episode of The Consumer Finance Podcast, Chris Willis is joined by Troutman Pepper Locke colleagues Lori Sommerfield and Lane Page to dissect two unexpected fair lending developments under the new Trump administration. First, we unpack the Consumer Financial Protection Bureau's (CFPB) surprising move to vacate its own redlining consent order with Townstone Financial, Inc. We then analyze the Federal Housing Finance Agency's (FHFA) dramatic policy shift requiring two government sponsored enterprises (GSEs, namely Fannie Mae and Freddie Mac) to terminate special purpose credit programs (SPCPs), as well as the broader implications for mortgage lenders. Join us for the twists and turns of this evolving fair lending regulatory landscape and learn what steps institutions should consider taking to mitigate risks.

The S&P 500 hits another record high along with Barry's favorite Nvidia. Gold is also trading at a record high on election and inflation uncertainty. The 10 year Treasury yield is back above 4% after better-than-expected retail sales and a drop in jobless claims. Does this impact the trajectory of future possible Fed rate cuts? FTC announces new “Click to Cancel” rule helping consumers with those pesky subscriptions that are easy to signup for but seemingly impossible to cancel. Highlights: “Important information must be truthful, clear, and easy to find. People have to know what they're agreeing to before they sign up. Sellers have to be able to show that people knew what they agreed to before they signed up. There always has to be a way to cancel that's as quick and easy as it was to sign up. Sign up online? Click to cancel. Signed up in person? Cancel online or over the phone. Violators can be liable for redress and civil penalties.” Zach likes it, Barry….? 12 million pounds of ready-to-eat chicken products recalled over listeria risk?!?! The company BrucePac is responsible, but they don't sell directly to consumers. They supply the chicken used in products sold by Trader Joe's, Wegmans, 7-Eleven, Kroger, Walmart, Aldi, Meijer, Giant Eagle, Amazon, Target, and more. Some of the recalled chicken was even distributed to schools! You can find the list of recalled products online at the USDA's website, but good luck scrolling through those 343 pages of products…. www.townstone.com

U.S. Treasurys aren't trading today, and the USPS isn't delivering mail. But the stock market and pretty much everything else is open, making this one of the least observed Federal holidays on the calendar. This week Zach and Barry do their best to stay on topic and discuss the current housing market, interest rate trends, and money saving tips as we head towards the holiday season. We'll remind you that Townstone Financial is the #1 independent mortgage company offering our clients the lowest rates and closing costs combined with the best customer service. So head to www.townstone.com for a FREE consultation. We're offering same-day prequalification for purchases, debt-consolidation refinances, home equity lines, home equity loans… You name it and we offer it or can refer you to someone who does.

It's Barry vs. Zach every week talking mortgages, real estate, finance, and going on tangents. Actually, the tangents are probably 90% or more of the show's runtime. Inflation appears to be cooling according to the U.S. Bureau of Labor Statistics. We have Apples down 14%, Gasoline down 10%, Used cars/trucks down 10% Other products don't seem to be moving much like new cars, utility gas service, and breakfast cereal (or dinner cereal depending on the time of day you eat it) Social Security recipients could be seeing a low cost-of-living adjustment this year at 2.5%, says independent analyst Mary Johnson. Compare that to a 5.9% increase in 2022, 8.7% increase in 2023, and 3.2% increase in 2024. Remember to visit www.townstone.com for a FREE mortgage consultation. We'll help you on your next purchase, refinance, home equity product, reverse mortgage... basically all of your residential real estate financing needs under one roof!

Freddie Mac gets conditional approval to enter the Home Equity Market, what does that mean for you? We'll continue to watch this development, but in the meantime, it's still a GREAT time to look at a home equity line or loan. Why? You can use your equity to consolidate credit card debt, make home improvements, or even gamble on cryptocurrency! We even now have a FIXED-RATE Home Equity Line of Credit! Practically unheard of until now! Call Zach at 312-896-2114 for the details and to see if you qualify. Are you building Social Security into your retirement plans? Not so fast! According to the SSA Board of Trustees' latest estimates, released in May 2024, the OASI (Old-Age and Survivors Insurance) fund -- which covers retirement and survivors' benefits -- is expected to be depleted by 2033. That's less than 10 years for those of you who are too lazy to count. In items that grind Zach's gears: Netflix, Hulu, Disney+, HBOMax, Amazon Prime, Paramount+… what do they all have in common? Yes, they're all streaming services. But they have all increased their monthly subscription fees in the last 12 months. Most are now even offering plans with ads! Wasn't the whole point of streaming to watch shows and movies without ads? Pretty soon we'll be wishing for the days when all content just came with your cable subscription… As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Barry vs. Zach: the Pay-Per-View you can watch for FREE! The 10-year Treasury seems befuddled: closing under 4.5% last week, spiking above 4.7% to start this week, and now trending back down to 4.5%. Pending home sales in April are down 7.4% compared to last year, but the share of sellers cutting prices this month in May has hit 6.4%. Supply and Demand at work! Zach describes his car dealership/servicing nightmare, unbelievable right? We're proud to announce: OFFICIAL TOWNSTONE MERCH! Now you can show off your support for the #1 mortgage company since 2002 by following this link https://www.redbubble.com/shop/ap/161479917

Barry and Zach have a candid session covering a variety of topics starting with Barry's gripes about bureaucracy and red tape. He sheds light on the often complex and frustrating processes that is especially burdensome for individuals and small business. With a couple of personal victories under his belt this week, Zach shares his recent experience with DIY car and HVAC repairs, offering insights into the challenges and rewards of tackling such tasks without professional help. Who doesn't love a good fixer-upper story? But mortgages and real estate remain the heart of the show, as Barry and Zach discuss the latest developments in mortgages and the real estate market. Whether you're a first-time homebuyer, a seasoned investor, or simply keeping an eye on market trends, we hope to provide valuable perspective on the current state of real estate and what it means for your wallet. Tune in for an episode that's hopefully as educational as it is entertaining. We promise to leave you happier and better informed to navigate the complexities of modern finance and homeownership.

Townstone Financial has more products for home purchases, refinances, home equity line, home equity loans, reverse mortgages, down payment assistance, and more! Low rates, top-notch services, and Barry and Zach (what more could you ask for?) Don't settle for any other mortgage company when you can be working with the BEST! As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

AT&T Celler Outage Disrupts Vital Services! In 2024, I like to say that only 3 things in life are certain: 1. Death 2. Taxes 3. Call phone Service Well, AT&T sure made me look like a fool this morning! It only goes to show how fundamental technology has become in our modern age. Millenials/Gen Z simply can't fathom a world before smartphones, Uber/direct-to-doorstep delivery, and 30 second youtube videos to explain even the most advanced concepts. At Townstone , we pride ourselves on offering the best in home financing. You get to work directly 1 on 1 with a Loan Officer who will take care of your purchase, refinance, home equity line/loan, or reverse mortgage. As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Friendly Reminder: Valentine's Day is on Wednesday (2/14)... Is it one of those holidays where it's only possible to "lose"? Barry and Zach react to "The Big Game" Spoiler: one watched the football, the other watched the ads and the halftime show. Are you prequalified for purchase season? If not, we might have a mortgage company to recommend. US consumer credit card debt remains at all-time highs (about $1.1 trillion) as Americans deal with lingering inflation and the ongoing rise in interest rates, which forces them to depend more heavily on credit cards. The average annual percentage rate is now more than 20% — also an all-time high. We happen to know a GREAT mortgage company you can contact to see if a home equity line or loan can save you money, three guesses which company. As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

CFPB v. Townstone Financial, Inc.

NASCAR comes to Chicago in what appears to be a successful event that brought life-long fans of racing together with first-time locals. The city was a great backdrop, and it was nice to have good news coverage of Chicago for a change! 4th of July weekend brought some significant purchase activity to the Midwest. Some of you were enjoying BBQs with family and friends, while others were placing bids on new properties. While there may have been a slight slowdown in June, there's been a flurry of buying and selling activity the last two weeks. MAKE SURE YOU ARE SHOPPING FOR THE BEST DEAL ON YOUR MORTGAGE! We'd like to think that every mortgage company out there is looking out for you, but the truth is: they aren't. Here at Townstone, we are happy to step in and review the Loan Estimates from our competitors to tell you if you're truly getting a square deal on your loan. Don't settle for 2nd-rate service, higher closing costs, or higher rates! Townstone Financial has been helping people like you save money on their mortgage since 2002. https://townstone.com/consultation-request/

In this episode of Commitment Matters, Mary speaks with attorney David Friend, who has two decades of experience including TILA and RESPA regulation at the CFPB and HUD. You can contact David via email. During their conversation, David or Mary mentioned: Listen to Part One of Mary's conversation with David here.The CFPB website has links and resources to recent rules and regulation.David explains the breakdown of title insurance calculations. View examples of these and the TRID Title Insurance Disclosures here. Here is the CFPB's explanation of APR tolerances as part of Regulation Z. Mary and David bring up this property rights case out of Minnesota, which is now being reviewed by the Supreme Court.Listen to our previous episode of Commitment Matters with Rich Horn, another attorney who discusses the CFPB v. Townstone Financial, Inc. case. Mary and David refer to this recent court case involving fisheries that questions Chevron deference.You can now reach the Commitment Matters Podcast via phone! Got a topic or guest idea you want featured? Leave us a voice message at 214.377.1807 or email us at podcasts@ramquest.com. Don't forget to subscribe, rate, and review this podcast on Apple Podcast, Spotify, or wherever you listen to podcasts, or visit RamQuest.com/podcast to download the latest episode. Lastly, we love to see when and how you're listening. Share our posts, or create your own and tag them: #CommitmentMattersPodcast

Real Estate and Mortgage Market Updates! Lack of housing inventory keeping home prices stable. Upcoming casino in Chicago redesign, will it help or hurt? Purchases and Cash-Out/Debt-Consolidation seem to be the name of the game lately. Townstone is always expanding our product portfolio to make sure you have the loan that's the best fit for you and your family. As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

In this episode of Commitment Matters, Mary speaks with Rich Horn, Attorney at Garris Horn LLP. You can contact Rich via email.During their conversation, Rich or Mary mentioned: Find CFPB v. Townstone Financial case details and documents online. Learn more about Rich's work and the services his law firm, Garris Horn LLP, offers.Rich says the concept of redlining has altered how banks market and determine their operation locations. Rich details two fair lending statutes, The Equal Opportunity Credit Act, or ECOA, and the Fair Housing Act, or FHA. Other cases illustrate similar discrimination and violations of ECOA and FHA, such as United States v. Chevy Chase Bank, F.S.B.It's important to note the differences between disparate treatment and disparate impact.Evidence in these cases is often pulled from HMDA (Home Mortgage Disclosure Act) data, which is publicly published data about the U.S. mortgage market.United States v. Cadence Bank is another example case that Rich uses to explain redlining.Chevron deference is a law principle previously discussed on Commitment Matters. Rich explains how it's applied in this case.UDAP refers to Unfair, Deceptive or Abusive Acts or Practices.Rich brings up a new rule from the CFPB called the Business Loan Data Collection Rule, which will create new HMDA data for small business loan applicants. You can now reach the Commitment Matters Podcast via phone! Got a topic or guest idea you want featured? Leave us a voice message at 214.377.1807 or email us at podcasts@ramquest.com. Don't forget to subscribe, rate, and review this podcast on Apple Podcast, Spotify, or wherever you listen to podcasts, or visit RamQuest.com/podcast to download the latest episode. Lastly, we love to see when and how you're listening. Share our posts, or create your own and tag them: #CommitmentMattersPodcast

David Hochberg! is an NIU alum and College of Business graduate. While at NIU, David completed his Bachelor of Science in Business with a Marketing emphasis. During that same time, David was an SA Senator, President of a fraternity, Tugs Chairman, and Homecoming King! After graduating, David's career has taken him from scrap trading, to the financial industry with notable stops that include owner of Townstone Financial, Vice president of Mortgage Lending at Perl Mortgage and at Lower LLC where he currently presides. In addition to a glorious reign on NIU's campus, and an impressive career, David is also the host of Home Sweet Home Chicago radio show airing on WGN AM 720 each Saturday from 10-1pm. David, thank you so much for being here!

The Rich Zeoli Show- Full Episode (04/20/2023): 3:05pm- On Thursday, the House of Representatives advanced legislation that would prevent biological males from competing in women's sports. Ari Blaff of National Review writes, “[t]he House measure seeks to amend federal law so that ‘sex shall be recognized based solely on a person's reproductive biology and genetics at birth,' in order to determine Title IX athletics compliance. Title IX mandates that institutions that receive public funding from the federal government cannot discriminate on the basis of sex.” The bill passed along partisan lines—"with 219 Republicans voting in favor and 203 Democrats voting against.” You can read more here: https://www.nationalreview.com/news/zero-house-democrats-vote-to-protect-womens-sports-from-male-intrusion/ 3:10pm- While appearing on Real Time with Bill Maher, Rep. Katie Porter (D-CA) baselessly accused NCAA swimming champion Riley Gaines—who advocate for the rights of biologically female athletes—of simply speaking out for “likes and clicks.” 3:30pm- Henry gets cancelled for drinking English breakfast tea. 3:35pm- On Tuesday, high school volleyball player Payton McNabb spoke to the North Carolina legislature and documented the extensive injuries she suffered while competing against a biological male. After being struck by a volleyball spiked by the male competitor, McNabb suffered a concussion and neck injuries and is still dealing with impaired vision and partial paralysis. 3:45pm- If you were a single woman, which profession would you find more attractive? New York City Rat Czar or Pentagon UFO Czar? Rich, Matt, and Henry debate—listeners weigh-in. 4:05pm- On Wednesday, Speaker of the House Kevin McCarthy (R-CA) unveiled the “Limit, Save, Grow Act of 2023”—a 320-page bill that would raise the debt ceiling while concurrently cutting federal spending. According to The Washington Post's Tony Romm, the proposed legislation is estimated to “save the government $4.5 trillion over the next decade” including “$130 billion in spending cuts for 2024.” The bill would also create “new work requirements for welfare” and “block [President Joe] Biden's forthcoming program to cancel thousands of dollars in college debt.” Unsurprisingly, President Biden has already expressed opposition to Speaker McCarthy's proposal. You can read more about the legislation here: https://www.washingtonpost.com/business/2023/04/19/debt-ceiling-limit-republican-plan-explained/ 4:30pm- Is New York City coming for you cheeseburgers? While speaking with members of the press, “Mayor Eric Adams on Monday vowed to reduce emissions tied to city food procurements by 33 percent by 2030, unveiling data showing that in New York City, food consumption rivals transportation as a source of planet-warming gases,” according to Dana Rubinstein of The New York Times. You can read the full article here: https://www.nytimes.com/2023/04/17/nyregion/eric-adams-meat-emissions-nyc.html 4:45pm- Rich learns about the smelly, psychotic, and murderous founder of Earth Day! 4:55pm- Last month, The Wall Street Journal Editorial Board documented a “strange house call” the Internal Revenue Service (IRS) made to independent journalist Matt Taibbi's home—unannounced “the same day Mr. Taibbi testified before the Select Subcommittee on the Weaponization of the Federal Government.” The WSJ Editorial Board writes, “[t]he taxman left a note instructing Mr. Taibbi to call the IRS four days later. Mr. Taibbi was told in a call with the agent that both his 2018 and 2021 tax returns had been rejected…the curious timing of this visit, on the heels of the FTC demand that Twitter turn over names of journalists, raises questions about potential intimidation.” On Wednesday, Sen. Ron Johnson (R-WI) confronted IRS Commissioner Daniel Werfel about the aforementioned “visit” during a hearing on Capitol Hill. And on Thursday former-President Donald Trump released a video to social media condemning how Taibbi has been treated by the IRS. Read more about the story here: https://www.wsj.com/articles/irs-matt-taibbi-twitter-files-jim-jordan-daniel-werfel-lina-khan-84ee518?mod=hp_opin_pos_2#cxrecs_s 5:00pm- The Drive at 5: In a Wall Street Journal exclusive report, Aruna Viswanatha, Sadie Gurman, and C. Ryan Barber write, “[a]n IRS supervisor has told lawmakers he has information that suggests the Biden administration is improperly handling the criminal investigation into President Biden's son, Hunter Biden, and is seeking whistleblower protections… The supervisor has details that show ‘preferential treatment and politics improperly infecting decisions and protocols that would normally be followed by career law enforcement professionals in similar circumstances if the subject were not politically connected.'” You can read the full article here: https://www.wsj.com/articles/irs-whistleblower-says-u-s-is-mishandling-hunter-biden-probe-7cd127f2?mod=hp_lead_pos7 5:05pm- While appearing on Fox News with Sean Hannity, Rep. James Comer (R-KY) was asked about reports that Executive branch investigators are improperly handling an inquiry into Hunter Biden's tax filings. Rep. Comer said, “the walls are closing in on the Biden family.” 5:15pm- While speaking before the House Appropriations Committee, Transportation Secretary Pete Buttigieg blamed problems within his department on climate change and COVID-19. Meanwhile, Rep. Rosa DeLauro (D-CT) thanked Sec. Buttigieg for using “female dummies” for car crash tests. 5:20pm- The Mystery Movie Clip! 5:25pm- While speaking with a local television station, Chicago Mayor-elect Brandon Johnson refused to condemn looters and rioters whose actions on Saturday night resulted in enormous amounts of damage and left several people injured. 5:50pm- On Tuesday evening, conservative commentator Matt Walsh had his phone, Twitter, and emails infiltrated by a hacker. Walsh vowed to press charges against those who are responsible. 6:05pm- On Thursday, SpaceX's unmanned Starship rocket exploded several minutes after taking off from its South Padre Island, Texas launchpad. SpaceX touted the next-generation rocket as being “the world's most powerful launch vehicle ever developed.” In a statement made on Twitter following the explosion, SpaceX founder Elon Musk stated, “Congrats SpaceX team on an exciting test launch of Starship! Learned a lot for next test launch in a few months.” 6:15pm- In their Wall Street Journal editorial, John Berlau and Stone Washington document a disturbing attempt by the Consumer Financial Protection Bureau to censor speech. They write: “In a lawsuit against Townstone Financial, a small Chicago-area nonbank mortgage firm, the CFPB is signaling that it may attempt to punish anyone who complains about neighborhood crime. The CFPB accuses Townstone owner Barry Sturner and others affiliated with the company of making ‘statements that would discourage African-American prospective applicants from applying for mortgage loans.'” You can read the full editorial here: https://www.wsj.com/articles/shhh-the-cfpb-could-be-listening-townstone-crime-free-speech-chicago-brandon-johnson-mortage-48d4c260?mod=opinion_lead_pos5 6:40pm- While appearing on CNN's “This Morning”, White House Press Secretary Karine Jean-Pierre declined to answer questions about an IRS whistleblower who alleges the Biden Administration is inappropriately handling an investigation into Hunter Biden.

The Rich Zeoli Show- Hour 4: On Thursday, SpaceX's unmanned Starship rocket exploded several minutes after taking off from its South Padre Island, Texas launchpad. SpaceX touted the next-generation rocket as being “the world's most powerful launch vehicle ever developed.” In a statement made on Twitter following the explosion, SpaceX founder Elon Musk stated, “Congrats SpaceX team on an exciting test launch of Starship! Learned a lot for next test launch in a few months.” In their Wall Street Journal editorial, John Berlau and Stone Washington document a disturbing attempt by the Consumer Financial Protection Bureau to censor speech. They write: “In a lawsuit against Townstone Financial, a small Chicago-area nonbank mortgage firm, the CFPB is signaling that it may attempt to punish anyone who complains about neighborhood crime. The CFPB accuses Townstone owner Barry Sturner and others affiliated with the company of making ‘statements that would discourage African-American prospective applicants from applying for mortgage loans.'” You can read the full editorial here: https://www.wsj.com/articles/shhh-the-cfpb-could-be-listening-townstone-crime-free-speech-chicago-brandon-johnson-mortage-48d4c260?mod=opinion_lead_pos5 While appearing on CNN's “This Morning”, White House Press Secretary Karine Jean-Pierre declined to answer questions about an IRS whistleblower who alleges the Biden Administration is inappropriately handling an investigation into Hunter Biden.

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Please join Troutman Pepper Partner Chris Willis and his colleague Consumer Financial Services Partner Lori Sommerfield as they discuss the implications of the recent Illinois federal court decision, dismissing the CFPB's first-ever redlining case against Townstone Financial, Inc., which alleged that Townstone engaged in redlining practices by discouraging applications under the Equal Credit Opportunity Act (ECOA) through its marketing approach. The court found that ECOA does not extend to prospective applicants.A seasoned consumer financial services attorney, Lori Sommerfield brings more than two decades of experience in federal government, in-house, and private practice settings. She leverages her deep expertise in fair lending and responsible banking regulatory compliance when routinely counseling clients in consumer financial services supervisory issues, examinations, investigations, and enforcement actions. Lori also comes highly experienced in advising clients on compliance with Title III of the ADA on accessibility of physical spaces and digital platforms.

Zach and Barry go through the mortgage and real estate process when working with Townstone Financial. Free Consultations Available by filling out the form at: https://townstone.com/consultation-request/

The Townstone Financial Case is the second suit against the CFPB (Consumer Financial Protection Bureau), which has been aggressively pursuing redlining claims against independent mortgage bankersover the past couple of years. This time, it lost, and this landmark case gives us key takeaways on just how much power should be in the hands of the CFPB and how do we know it is already overstepping its bounds. Joining the show to explain the case is Mitch Kiderof the WBK Firm. Mitch believes that the Townstone Financial Case is an important one from an administrative law perspective because it clearly defined the bounds of the CFPB's authority.Although this would hardly undo the damage that the CFPB has already done to countless companies, this is a positive step towards fairer regulation in the industry. Learn more from this episode.

Election Day in Chicago! Townstone product changes and additions! Mortgage market updates and predictions! As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Happy New Year! The stock market is already off to a rocky start but mortgage rates are holding steady for now. But what about property values? Will they retain their gains from the last few years? Barry and Zach are LIVE with their thoughts and predictions for 2023. Remember, we offer FREE consultations at https://townstone.com/consultation-request/ Purchase, Refinance, Home Equity Lines/Loans... get in touch TODAY!!!

Republicans take the house, Democrats keep the Senate, and life goes on! Mortgage rates take a temporary break from their 20-year highs, but is the relief only temporary? JPMorgan is about to spend $1 billion on hundreds of rental homes across the US on the way to becoming a “megalandlord” So how's your day going? Let Townstone help you become your own landlord before these mega-corporations make it impossible for you and your family: https://townstone.com/consultation-request/

It's election day here at Townstone! 2022 has been a rough year for real estate and mortgages as the average rate for a 30 year fixed pretty much doubled. Will Republicans take the House? Will they take the Senate? Will any outcome in today's election help move interest rates back towards their 2021 lows? Barry and Zach discuss!

Fed increases its target rate yet again! Barry and Zach discuss how something feels "wrong" with the economy. With the future of mortgage rates and real estate being impossible to predict, the only risk is sitting on the sidelines! Set up a FREE mortgage consultation at https://townstone.com/consultation-request/

Inflation and the end of the middle class in America. Food, shelter, and energy prices are three of the “stickiest” since they are not optional expenses for the vast majority of people. We continue to watch these prices increase, the affordability index for homes at the worst level since before 1990, and almost every economic indicator pointing towards a recession in the near-future (or being in one already!), what can you do to best protect you and your family in the months and years to come? Zach and Barry discuss their thoughts on this exciting episode of the Townstone Financial Show. Townstone has been your #1 mortgage company since 2002! Remember to fill out a FREE consultation for your next home purchase, refinance, home equity line, or home equity loan at https://townstone.com/consultation-request/ Don't settle for less than Townstone!

The HIGHEST mortgage rates in 20 years?!?! Barry and Zach discuss if these increases are stopping any time soon (hint: nobody knows!) What we do know is that it's still a great time to purchase a home and stop handing your money over to your landlord! Credit card debt is increasing to pre-pandemic levels and those 18% or higher rates are not good for anyone! Get a free consultation TODAY with Townstone Financial to discuss your specific scenario and we will figure out the best way to help you during these uncertain times. https://townstone.com/consultation-request/

Rail Strike is Averted! That could've been rough… In other news, how does one apply to be King? Decree #1: instruct the Fed to continue buying mortgage-backed-securities because inflation doesn't seem to be tamed yet there seems to be pain in the housing market. Zach thinks this talk of a “soft landing” is bologna and it's looking more like a hard landing or simply a crash which can hardly be considered a “landing” at all… Fortunately, homeowner's still have time to tap the equity in their homes with one of the home equity lines or loans Townstone can help you with. Unfortunately, renters might continue to feel the pain as costs for landlords increases and they pass those costs on. If you're looking to change your trajectory and go from a renter to an owner, make sure to fill out a free consultation at https://townstone.com/consultation-request/ today!

Rates might be increasing, but people are sitting on record-levels of equity in their homes. A home equity line or loan can help you access that equity without impacting the rate of your primary mortgage. Purchase activity is slowing down, but does that mean a price-drop is in the cards for the real estate market? Right now, doesn't seem like it's happening due to supply constraints. Remember to visit http://townstone.com for a FREE CONSULTATION!

The BEST time to buy a home? Mortgage interest rates, housing inventory, builder expectations, and what you should be doing! Now offering home equity loans and lines of credit! Free consultation with a mortgage expert for your next refinance or purchase by visiting www.townstone.com Have a great rest of your week!

The market giveth and the market taketh away... 2022 has not been pretty for mortgage rates as the average 30 year fixed shot past 5% borrowers have (understandably) been hesitant to refinance their lower-rate existing mortgages, but as the global economy slows, will 3% rates be here again sooner rather than later? Even if you already have a great rate on your mortgage, you've likely gained significant equity in your home these last few years and it's an excellent time to consider a home equity line of credit or a home equity loan in order to consolidate debt or to simply increase your liquidity. Finally, believe it or not, inventory is still tight out there! Make sure you're working with the BEST on your next home purchase by filling out a free consultation at www.townstone.com That goes for ALL purchases, refinances, scenarios, questions, even recipes (if you have good ones). FREE CONSULTATIONS at our website www.townstone.com

After 3 months of rising mortgage rates, might there be an end in sight? Barry sees some possible support levels in the bond market that might indicate mortgage rates have found their new "normal". Bank Statement loans are still available for self-employed borrowers! Why this could be your path for qualifying. Debt-Consolidation: should you do a cash-out refinance, home equity line, home equity loan fixed 2nd? Remember, visit www.townstone.com for a FREE consultation and speak to a mortgage expert today!

Townstone Financial's "State of the mortgage and real estate market" (recorded LIVE 2/24/22) Barry and Zach discussing recent developments in the mortgage and real estate markets. BUY vs. Rent. Inflation. Higher interest rates. Higher home prices. Ukraine. FREE CONSTULTATIONS AVAILABLE AT WWW.TOWNSTONE.COM Let us help you with your next purchase, refinance, or home equity loan/line! https://youtu.be/306fx1LMKnQ

https://www.youtube.com/watch?v=XQPktDPNIEE It's been a bit of a wild ride for mortgages this past week with rates rising-falling-rising again. Zach has no answers but asks Barry for his insight. A Reuters poll property analysts recently indicated home prices would rise 10% this year (compared to 17% in 2021). While buyers are hoping for a "dip", they might be waiting for a while. We are hearing first-hand reports from our purchase clients that inventory is still tight and houses that do come to market are going under contract quickly! Remember, Townstone offers FREE consultations on purchases, refinances, home-equity lines and home-equity-loans! Just visit www.Townstone.com for your next home loan and speak with a mortgage expert TODAY!

In this episode of Commitment Matters, Mary catches up with Chuck Cain, Senior Vice President - National Agency for the FNF Family of Companies. You can reach Chuck via email at charles.cain@fnf.com or listen to him on the FNF Unplugged podcast.During their conversation, Chuck or Mary mentioned:The real estate industry is evolving in how it conducts business. Check out this article to learn more about what is disrupting the traditional business model and learn about upcoming trends will further impact it.Here's a breakdown of how the RedFin model works.Chuck mentioned a report from the Inman Headline, noting how teams are also becoming more important to the Real Estate industry. Here is Inman's Essential Guide to Real Estate Teams.It's said there's an 80/20 rule regarding how many agents produce the bulk of business. This article with statistics ranging from 2017-2019 sheds more light.RIN, RON, and AVON…Capital Title Insurance Agency drafted this quick-reference to all things electronic closing.Get up to speed on iBuyers and SPACs. As Chuck noted, such companies are expanding into smaller communities, not just urban settings. In 2020, Forbes offered a look at the top ten cities for potential iBuyer growth.Mary says, “nope;” would you buy a car from a vending machine?Redfin reported more and more buyers are closing on a home without seeing the property.The National Association of Realtors (NAR) offers this advice in creating a social media usage policy and Inman offers this insight on avoiding legal landmines with social media.Chuck mentions co-marketing regulations, as well. Here's what the NAR suggests.Here are the CFPB FAQs regarding RESPA Section 8.Check out this overview of how the CFPB may shift under President Biden. Side By Side is a guide on Fair Lending from the FDIC. Plus, the National Fair Lending Alliance's website is filled with resources.The CFPB versus Townstone Financial Inc.: get the scoop on how the “Feds say radio statements by Townstone Financial reps amount to ‘redlining' Townstone says it's an attempt to ‘cancel' silence free speech.”Chuck mentions The New Urban Crisis by Richard Florida.Organized Cyber Crime is real. It's no longer a single hacker targeting businesses, it's a whole team.Tom Cronkright of CertifID highlights a rise in cybercrime, sourced from the FBI's 2020 Internet Crimes Report.As Chuck mentions, congress is increasing its focusing on the protection of personal information. Here's a look at the expansion of DC's law, California Privacy Act, and New York's pending legislation. Risk Management: third Party providers must also be considered when it comes to NPI.Here's more on a need for lenders to consider real-time quality assurance.Chuck quotes Shoshana Zuboff's book, The Age of Surveillance Capitalism.Deep dive into the details of privacy disclosure do's and don'ts.Here are resources and templates for the ever-important (if not frequently read) Master Closing Instructions and Service Level Agreements (SLAs).As noted, mortgage lenders experienced an increase in profit margins with the refinance boom of 2020, but looking forward, expect them to shrink.Learn more about Business Intelligence (BI).Technology and automation are driving US Banks to cut as many as 200,000 employees in the next decade.Here's a bit more on Warehouse Lending and how digital mortgages are reducing lag time.Remember Blockchain? You can also learn more about the Torrens System.MBA's website offers several compliance resources. Learn more about fourth party compliance issues.Catch up on the decade-long fight over the CFPB's existence, plus read an update since the episode was recorded: the Supreme Court ruled on the FHFA leadership; President Biden responded.Have you read Acting Director Dave Uejio's statement of priorities, including COVID-19 related hardship?It seems the days of $1 CFPB fines are over. Chuck mentions the CFPB's case against PHH, which was dismissed in 2018. Read more.The CFPB is hiring!Mary and Chuck discussed the Positive Pay system - its benefits and shortcomings.Here's a primer on all thing mortgage fraud and an overview of how AI enhances the consumer experience even as it evolves to aid in fraud protection.Chuck mentioned hearing Garth Graham of the Strathmor Group speak at an MBA conference about the cost and usage of technology. Here's an in-depth article he wrote on this digital transformation.You can deep-dive into all things SOC 2 related here.If you'd like to contact the Commitment Matters podcast, email podcasts@ramquest.com. Don't forget to subscribe, rate, and review this podcast on Apple Podcast, Spotify, or wherever you listen to podcasts, or visit RamQuest.com/podcast to download the latest episode. Lastly, we love to see when and how you're listening. Share our posts, or create your own and tag them: #CommitmentMattersPodcast

In today's Daily Download episode, HousingWire discusses a motion filed by Townstone Financial to dismiss a lawsuit the Consumer Financial Protection Bureau filed against the company in July.For some background on the story, here's a summary of the article:On Monday, Townstone Financial Inc., a Chicago-based nonbank retail mortgage lender, filed a motion to dismiss a lawsuit the Consumer Financial Protection Bureau filed against the company in July.The July 15 complaint alleged that Townstone violated the Equal Credit Opportunity Act (ECOA) and Regulation B by engaging in discriminatory mortgage-lending practices and that those violations also constituted violations of the Consumer Financial Protection Act.Townstone moved to dismiss the lawsuit based on expressive action that the CFPB attempted to expand the reach of the ECOA to “prospective applicants,” which the company said is not regulated under ECOA.The CFPB's suit alleges that, from 2014 through 2017, Townstone engaged in practices that illegally discouraged prospective African-American applicants from applying to Townstone for mortgage loans as well as practices that discouraged prospective applicants living in African-American neighborhoods in the Chicago MSA from applying to Townstone for mortgage loans.Following the main story, HousingWire also covers a report from the Mortgage Bankers Association that indicates the U.S. forbearance rate fell slightly to 5.9% last week and an announcement from First American that it has agreed to acquire sub-servicer ServiceMac.The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.HousingWire articles covered in this episode:Townstone Financial files motion to dismiss CFPB redlining lawsuitMortgage forbearances down 2 basis points to 5.9%, led by Fannie and FreddieFirst American to acquire subservicer ServiceMac

States are beginning to open up again, but is "work from home" here to stay? COVID or NOVID, spring purchase market is in full swing! We are seeing no let up in the amount of borrowers looking to prequalify themselves for a new purchase. Add yourself to the list by filling out a free consultations at Townstone.com And of course, refinancing should be on your mind since we are near all-time low rates and it's always a good time to save!

As we shuffle back to something resembling “normal” after staying home the past few months, it’s time for your mortgage check-up! Rates are at/near all-time lows, so chances are that you could save money by refinancing your current loan. As our current clients can attest, working with Townstone is most-painless mortgage process in the industry. Fill out a free consultation at Townstone.com and it’ll take 2 minutes on the phone to determine how much we can save you with a new loan. Purchases are BACK after a small drop-off in late march/early April. In such uncertain times as these, do you want your landlord controlling next year’s rent? Become a homeowner and lock-in a fixed mortgage payment that will NEVER change until you pay off the loan in full, future you will be happy you did. SPECIAL PRODUCT ALERT: We’ve all heard about the 30 year mortgage, but what about a 29 year loan? Good on rate-locks now through 6/30: get a 29 year amortizing mortgage with the SAME payment as a 30 year! Head to Townstone.com to fill out a free consultation to see how much you can save with a 29 year mortgage. So remember: Townstone.com for a free and personal consultation for any purchase or refinance scenarios and questions, your wallet will thank you later. Have a great rest of your week!

Mortgage rates hold steady with a refinance boom continuing and purchase activity ramping up quickly! We’ve all heard of the 30-year mortgage, but have you heard about a 29-year mortgage? Lower rate than a 30-year, no higher on the monthly payment. This previously unheard-of great deal is currently set to expire June 30th, so make sure you head to Townstone.com to fill out a free consultation to see how much money this can save you. Finally, some clarity on your ability to refinance while in forbearance: On any loan currently in forbearance where you are making payments on time, the loan can proceed. You're good to go. For any loan currently in forbearance where you are not making payments: The loan must be brought current in order to close. On conventional loans: If you have entered a workout plan (post forbearance), we have to show underwriting three consecutive payments on the new plan. On FHA or VA loans: if you’ve entered a workout plan (post forbearance), all payments on the plan must be complete. Either way, make sure you have the best team in the mortgage industry working on your behalf for your next home purchase or refinance. FREE consultations available at Townstone.com, fill yours out TODAY! Have a great week.

Townstone Financial Inc. Team Site - DocumentsPodcast and radio Mortgage Rates Continue to Test All-Time Lows! Great news for current homeowner's looking to refinance to save money or get cash out. Also great for upcoming home purchasers who are already applying in higher numbers than even before COVID. CNBC reported Tuesday that about 30% of Americans missed their housing payment this June. Barry has some serious concerns about the survey they used, but what does that mean for you and the larger real estate market? Remember, Townstone.com is the ONLY place you can fill out our FREE consultation request for your next home purchase or refinance. Stay safe and have a great rest of your week!

Are interest rates really that low, can you still take cash out of your home to pay bills? What if I lost my job or got laid off can I still get a mortgage?

Barry Sturner, Owner at Townstone Financial, joins Anna to talk about what we need to know about our mortgages amid the COVID-19 pandemic. What should we know about mortgage forbearance?

Let's take a step back and analyze the chain of events: 1. Coronavirus scares the market 2. Stocks and Mortgage Rates down 3. Market forgets about coronavirus 4. "Buy the dip"? It's probably a bit more complicated than that, but it's pretty confusing from where we're sitting. The good thing, mortgage rates are still LOW! Make sure you're not overpaying on your mortgage by filling out a FREE consultation at Townstone.com And we can't forget about you purchasers out there! There might be a weather advisory warning today, but spring is around the corner and it's time to get prequalified. Where, you ask? Townstone.com of course! Have a great rest of your week. Stay Warm!