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Posted Date: Tuesday, March 26, 2024
One thing all segments of the real estate transaction have in common is a major reliance on data. Multiple agencies released information about data collection requirements and the organizations that provide that data. Read about these matters and more in this roundup. Read on »
Posted Date: Tuesday, March 12, 2024
Between merging banks and merging credit scoring models, financial regulators still have to find time to conduct examinations and rulemaking activities. Here are a few synopses of activities and announcements that recently came out of the Federal Housing Finance Agency, Federal Deposit Insurance Corp., the Federal Reserve and the Office of the Comptroller of the Currency. Read on »
Posted Date: Friday, March 8, 2024
The Mortgage Bankers Association (MBA) was generally encouraged by the Biden administration’s announcements regarding the housing market, released just prior to the 2024 State of the Union Address.
MBA President and CEO Bob Broeksmit also noted the organization’s concerns about certain indications from the Consumer Financial Protection Bureau (CFPB) about closing costs and other expenses associated with mortgage transactions. Read on »
Posted Date: Friday, February 23, 2024
Former officials from the Department of Housing and Urban Development, Federal Housing Administration, Department of Justice, and the Federal Housing Finance Agency have joined forces to create a new firm offering financial services and specialists in fair lending, consumer protection law, and regulation.
Gate House Compliance, a subsidiary of Gate House Strategies, will serve clients across multiple asset classes in financial services, including mortgage, student loan, credit card, and other secured/unsecured credit products, the company stated. Read on »
Posted Date: Tuesday, February 20, 2024
The Consumer Financial Protection Bureau recently announced its efforts to provide relief to consumers victimized by an illegal student loan debt-relief operation. Learn more about this matter, as well as what new information the Federal Deposit Insurance Corp. has to share in its latest update on the ongoing independent investigation into its workplace culture, along with news from the Federal Housing Finance Agency and the Federal Reserve. Read on »
Posted Date: Friday, February 9, 2024
The Federal Housing Finance Agency’s latest report on the sale of non-performing loans by Fannie Mae and Freddie Mac indicates the agency’s strategy of selling delinquent loan pools to achieve better borrower outcomes has been effective. Read on »
Posted Date: Tuesday, February 6, 2024
Financial institutions often note concerns about compliance burdens associated with federal regulations in letters to Congress advocating changes to applicable laws and to the agencies charged with crafting their implementing regulations. Learn about the recent request for comment on this matter, as well as other developments announced by federal agencies. Read on »
Posted Date: Tuesday, February 6, 2024
The Federal Housing Finance Agency (FHFA) recently released its 2024 Scorecard, outlining strategic objectives for Fannie Mae, Freddie Mac and their joint venture, Common Securitization Solutions, LLC. FHFA Director Sandra Thompson emphasized the critical role of the annual Scorecard in guiding government-sponsored enterprises. Read on »
Posted Date: Monday, January 8, 2024
The Federal Housing Finance Agency recently announced an increase in the annual investment cap for the government-sponsored enterprises for the Low-Income Housing Tax Credit market. Beginning this year, Fannie Mae and Freddie Mac will be allowed to invest up to $1 billion each as equity investors. Read on »
Posted Date: Friday, December 1, 2023
The
Federal Housing Finance Agency’s newly published final rule amends various
provisions of the Enterprise Regulatory Capital Framework utilized by Fannie
Mae and Freddie Mac with one notable exception. The final rule does not include
the bi-merge credit score calculation requirement, which was included in the
original proposal. Read on »
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