Senators Mark Warner (D-VA) and Mike Rounds (R-SD) recently introduced bi-partisan legislation that’s designed to help creditworthy borrowers with non-traditional forms of income better qualify for a mortgage.
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Senators Mark Warner (D-VA) and Mike Rounds (R-SD) recently introduced bi-partisan legislation that’s designed to help creditworthy borrowers with non-traditional forms of income better qualify for a mortgage.
Read MoreTopics: Lenders, Mortgage Companies, Credit Union, Compliance, Regulations, proposals, Dodd-Frank Act
The CFPB recently announced that it will begin working in collaboration with 11 financial regulators from across the world on fintech regulation efforts – known as the Global Financial Innovation Network (GFIN).
Read MoreTopics: Lenders, AMCs, Mortgage Companies, Credit Union, Appraisers, servicers, CFPB, Compliance, Regulations, technology
HousingWire recently reported that the Trump Administration has called for a series of changes to the country’s financial and mortgage ecosystems. If realized, these changes would speed up the financial industry’s tech revolution and revise the current regulatory environment.
Read MoreTopics: Lenders, Mortgage Companies, Credit Union, AMCs, Appraisers, Regulations, Compliance, proposals, technology, servicers
With the ECOA Appraisal Rule in effect for some time now, many within the mortgage industry understand the importance of delivering their appraisal reports to the borrower on time, every time.
Read MoreTopics: Lenders, Credit Union, Mortgage Companies, Compliance, Regulations, Appraisal Process Management, eTrac Enterprise Solutions, appraisal technology, technology, collateral management
The Appraisal Institute recently announced that Pennsylvania Governor Tom Wolf signed HB 863, which will allow the state’s real estate brokers, associate brokers, and salespeople to provide Broker Price Opinions (BPO) as of August 28, 2018. That said, the new law places significant restrictions on these individuals and limits the situations under which they may perform BPOs.
Read MoreTopics: Lenders, Mortgage Companies, Credit Union, residential mortgage industry, Compliance, Regulations, Short Sales, technology
The Bureau of Consumer Financial Protection (BCFP) recently issued a statement that contains guidelines on the partial exemptions for small banks and credit unions under the Home Mortgage Disclosure Act (HDMA) rules of the amended Dodd-Frank Act.
Read MoreTopics: Lenders, Credit Union, Mortgage Companies, CFPB, Dodd-Frank Act, Regulations, residential mortgage industry, Compliance
This past June, Ohio Governor John Kasich signed Substitute House Bill 213 into law, which establishes the state’s AMC licensing and oversight program and makes minor changes to its existing appraiser licensing and certification law.
Read MoreTopics: AMCs, Appraisers, Lenders, Mortgage Companies, Credit Union, Compliance, Regulations, Dodd-Frank Act, residential mortgage industry
Washington state has officially implemented HB 2057, which is designed to combat zombie properties and streamline interactions between city governments and lending institutions to help prevent urban blight.
Read MoreTopics: Lenders, Mortgage Companies, Credit Union, Compliance, Regulations, servicers
The U.S. Senate recently confirmed Brian Montgomery as the Assistant Secretary of the U.S. Department of Housing & Urban Development (HUD) and Commissioner of the Federal Housing Administration (FHA) by a vote of 74-23.
Read MoreTopics: Lenders, Credit Union, Mortgage Companies, Compliance, Regulations, residential mortgage industry
After passing through the Senate back in March, the U.S. House of Representatives recently passed S. 2155—or the “Economic Growth, Regulatory Relief and Consumer Protection Act”—which was immediately signed into law by President Trump.
Read MoreTopics: Lenders, Credit Union, Mortgage Companies, Compliance, Regulations, Dodd-Frank Act
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