Mortgage

Bipartisan ABA-Backed Bills Coming to Vote This Week

The full House is expected to vote this week on two bipartisan bills that are part of ABA’s Agenda for America’s Hometown Banks. H.R. 1553, introduced by Reps. Scott Tipton (R-Colo.), Lacy Clay (D-Mo.) and Andy Barr (R-Ky.), would raise the asset threshold for qualifying for the 18-month exam cycle from $500 million to $1 billion.

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Cordray Signals ‘Hold-Harmless’ Period for TRID Compliance

Testifying before the House Financial Services Committee today, Consumer Financial Protection Bureau Director Richard Cordray signaled that the bureau and other financial regulators are working on guidance for a formal ‘hold-harmless’ period to facilitate compliance after the TILA-RESPA integrated disclosures take effect on Saturday.

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Delinquent GSE Mortgages Decline As Economy Improves

The number of home loans backed by Fannie Mae and Freddie Mac that are 60 days or more past due or are in the foreclosure process fell 6 percent in the second quarter of 2015, following a 9 percent drop in the first quarter, according to the Federal Housing Finance Agency’s foreclosure prevention report released today.

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N.H. Lawmakers Make Bipartisan Push for TRID Grace Period

The entire New Hampshire congressional delegation -- two Democrats and two Republicans -- on Thursday wrote to Consumer Financial Protection Bureau Director Richard Cordray to request a “grace period” for good-faith efforts to comply following the Oct. 3 effective date for the TILA-RESPA integrated disclosures.

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FFIEC Releases 2014 HMDA Data

The Federal Financial Institutions Examination Council today released the 2014 Home Mortgage Disclosure Act data on mortgage lending transactions at 7,062 financial institutions.

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CFPB Finalizes Relief for Small, Rural Mortgage Lenders

The Consumer Financial Protection Bureau today finalized several changes -- many advocated by ABA -- that will increase the number of banks able to benefit from the bureau’s small creditor and rural or underserved area exemptions in its mortgage rules.

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