The FHA recently announced several proposed revisions to its lender certification requirements, which are designed to increase participation in its single-family mortgage insurance program. The revisions are also intended to provide lenders and servicers with greater certainty in how to satisfy the administration’s compliance requirements.
Read MoreTopics: Lenders, Compliance, residential mortgage industry, Regulations
A new bill, known as the Fair and Equal Housing Act of 2019, was recently introduce to the U.S. Senate by Senators Tim Kaine (D-VA), Susan Collins (R-ME), and Angus King (I-ME). If passed, the legislation would expand the country’s Fair Housing Act to include gender identity and sexual orientation as protected classes.
Read MoreTopics: Lenders, Mortgage Companies, Compliance, Regulations, Credit Union
Many within the mortgage origination process understand the ECOA Appraisal Rule and the added importance of delivering their appraisal reports to the borrower on time, every time.
Read MoreTopics: Lenders, appraisal technology, collateral management, eTrac Enterprise Solutions, Mortgage Companies, Global DMS, Compliance, residential mortgage industry, Regulations, Appraisal Process Management, Credit Union
The U.S. Department of Housing and Urban Development (HUD) recently announced that it has awarded an additional $15 million in grants to help fight housing discrimination.
Read MoreTopics: Lenders, Mortgage Companies, Compliance, residential mortgage industry, Regulations, Credit Union
The Appraisal Foundation recently announced that its Appraisal Standards Board (ASB) unanimously adopted the 2020-21 edition of USPAP during its latest public meeting in Kansas City, MO.
Read MoreTopics: Lenders, Appraisers, AMCs, Compliance, Regulations, USPAP
The CFPB recently announced changes to its Civil Investigative Demands (CIDs) policy to ensure they provide more information about the potentially wrongful conduct that is under investigation. To recap, the Bureau uses this policy when issuing subpoenas to companies who are under investigation for possible violations.
Read MoreTopics: Lenders, AMCs, Mortgage Companies, Compliance, Regulations, CFPB, Credit Union
The Appraisal Institute’s latest Q2 Washington Report includes a variety of state-level legislation updates occurring throughout the country.
Read MoreTopics: Lenders, Appraisers, AMCs, Compliance, Regulations
The FHA recently issued two mortgagee letters, which provide updated guidelines for the its home warranty and inspection requirements for single-family FHA loans.
Read MoreTopics: Lenders, Mortgage Companies, Compliance, residential mortgage industry, Regulations, Credit Union
On December 28th, New York Governor Andrew Cuomo signed S. 9080 into law, which enacted a comprehensive AMC registration and oversight program for the state. New York is the 49th state to pass such legislation, which is scheduled to take effect 120 days after being signed by the governor – or April 27th.
Read MoreTopics: Lenders, AMCs, Compliance, Regulations, Dodd-Frank Act
Several Democrats in both the Senate and House of Representatives have introduced a new bill to bring back an old Dodd-Frank reporting requirement on loan quality criteria, which was repealed last year when Republicans controlled each chamber of Congress.
Read MoreTopics: Lenders, Mortgage Companies, Compliance, residential mortgage industry, Regulations, Dodd-Frank Act, proposals, Credit Union
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