Housing Market Heats Up after COVID-19
The COVID-19 pandemic created the deepest economic contraction in modern U.S. history and led to considerable uncertainty. However, it also...
Mortgage
FHFA Eliminates Controversial ‘Adverse Market Refinance Fee’
The Federal Housing Finance Agency today announced that it will eliminate a widely panned “adverse market refinance fee” of 50...
Must the Bank Update the Loan Estimate if It Becomes Aware of Increases to Fees Unrelated to Extension of Rate Lock Agreement?
Questions and answers from the July/August 2021 ABA Regulatory Policy and Compliance Inbox.
FHFA Issues Fair Lending Policy Statement
The Federal Housing Finance Agency issued a policy statement today stating its position on fair lending laws with respect to...
FHFA: GSEs to Hold off on Certain GSE Foreclosures in Light of New CFPB Rule
Following a final rule issued by the Consumer Financial Protection yesterday establishing a temporary COVID-19 emergency pre-foreclosure period under Regulation...
ABA Chief Economist: Banks in ‘Good Shape’ to Support Recovery
As the economy recovers from the effects of COVID-19, “financial institutions are in good shape” to continue providing credit to...
OCC: Mortgage Performance Declines in First Quarter
The share of current and performing first-lien mortgages in the first quarter of 2021 was 94.2%, down from 96.5% a...
CFPB Finalizes Rule to Assist Borrowers Affected by COVID-19
As expected, the Consumer Financial Protection Bureau today finalized a rule to facilitate streamlined loan modification efforts and establish a...
Supreme Court: FHFA Director May be Removed by President at Will
The Supreme Court ruled today that the structure of the Federal Housing Finance Agency is unconstitutional, given that it has...
CFPB Issues Statement on Juneteenth Mortgage Closing Delays, Signals Further Guidance
After advocacy by ABA, the Consumer Financial Protection Bureau issued a statement last night on mortgage closing delays that might...
