Mortgage

ABA Seeks Letters to Congress on Pending Legislation

ABA is asking bankers to write their senators and representatives to enlist their support for several bipartisan bills introduced in recent weeks as part of ABA’s Agenda for America’s Hometown Banks: ​Data security. This alert urges senators to co-sponsor S. 921, which would strengthen data security standards for all players and recognize the high standards already employed by the banking ...

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​CFPB Issues Guidance on Housing Counseling Disclosure

The Consumer Financial Protection Bureau today issued an interpretive rule intended to help lenders comply with the requirement in its mortgage servicing and high-cost mortgage rules to provide a list -- shortly after a borrower applies for a mortgage -- of Department of Housing and Urban Development-approved housing counselors nearby.

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​House Passes ABA-Backed Points and Fees Bill

By a bipartisan 286-140 vote, the House today passed H.R. 685, a bill introduced by Rep. Bill Huizenga (R-Mich.) that would provide needed clarifications on the Qualified Mortgage rule’s points and fees test as part of ABA’s Agenda for America’s Hometown Banks.

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