Consumer Financial Protection Bureau Director Richard Cordray appeared before the Senate Banking Committee today and said during the question-and-answer period that the CFPB intends to revisit the income-verification standards under the Ability-to-Repay Rule.
ABA today issued a bank members-only staff analysis of the Federal Housing Administration’s proposed rule limiting the window under which an FHA-approved lender would be able to file a mortgage insurance claim.
The full House today passed two ABA-supported bills by voice votes. The bipartisan bills would equalize the SEC registration and de-registration thresholds for savings and loan holding companies (H.R. 1334) and require regulators to conduct a study of Basel III’s effect on mortgage servicing assets (H.R. 1408).
ABA and other financial services groups yesterday urged the Senate to pass S.1711, which would provide lenders with a temporary safe harbor from enforcement of the TILA-RESPA integrated disclosures, expected to become effective Oct. 3.
Sen. Tim Scott (R-S.C.), joined by 10 bipartisan co-sponsors, this week introduced a bill that would provide lenders with a temporary safe harbor from enforcement of the TILA-RESPA integrated disclosures, expected to be implemented starting Oct. 3.
The size of a down payment is much more significant than the interest rate in determining how much more someone is willing to pay for a house, according to researchers at the Federal Reserve Bank of New York.
ABA and its American Bankers Insurance Association subsidiary yesterday welcomed a pair of bipartisan bills, S. 1679 and H.R. 2901, that would help develop a competitive private marketplace as an alternative to the National Flood Insurance Program.
ABA yesterday said it welcomed the Consumer Financial Protection Bureau’s proposed delay of implementation of the TILA-RESPA integrated disclosures to Oct. 3.
The Consumer Financial Protection Bureau and the OCC have both recently released free resources to help bankers prepare for the TILA-RESPA integrated disclosures, now expected to become effective on Oct. 3.