​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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​OCC: Mortgage Performance Continues Improving

Some 93.2 percent of mortgages were current and performing at the end of 2014, up slightly from 93 percent in the third quarter and up from 91.8 percent a year before, according to the Mortgage Metrics Report released on Friday by the OCC.

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