ABA Raises Concerns about GSE PSPA Changes
In a letter to Treasury Secretary Janet Yellen and Federal Housing Finance Agency Director Mark Calabria this week, ABA requested...
Mortgage
CFPB: Fair Lending Critical to Pandemic Response, Reducing Racial Inequities
The Consumer Financial Protection’s fair lending work “is and will continue to be a critical component of the bureau and...
Fannie, Freddie Announce Effective End of ‘GSE Patch’
In lender letters issued this week, Fannie Mae and Freddie Mac announced that any loans purchased by the GSEs after...
ABA Urges CFPB to Reconsider Extension of QM Rule Compliance Date
Delaying the mandatory compliance date of the new QM rules could “foster disruptive market confusion and complicate bank compliance efforts...
CFPB Issues Proposed Rule Prohibiting Foreclosure Notices Until Dec. 31
The Consumer Financial Protection Bureau today proposed to establish a temporary COVID-19 emergency pre-foreclosure review period under Regulation X that...
CFPB Warns Servicers: Prepare to Assist Customers Exiting Forbearance
In a compliance bulletin issued today, the Consumer Financial Protection Bureau called on mortgage servicers to “take all necessary steps...
OCC: Mortgage Performance Declines in Fourth Quarter
The share of current and performing first-lien mortgages in the fourth quarter of 2020 was 93.3%, down from 96.5% a...
May I Send Adverse Action Notices to Joint Applicants at the Same Mailing Address—Even if They Reside at Different Addresses?
. . . and other questions and answers from the March/April 2021 ABA Regulatory Policy and Compliance Inbox.
ABA Weighs in on Proposed GSE Liquidity, Resolution Planning Requirements
In two comment letters to the Federal Housing Finance Agency last week, the American Bankers Association weighed in on proposed...
Philly Fed Survey Finds 10% of Respondents Took COVID-19 Forbearance
More than 10% of respondents in a recent Federal Reserve Bank of Philadelphia survey said they had entered mortgage forbearance...
