Mortgage

ABA, Groups Oppose Language Preference Question on URLA

ABA and several financial trade groups today again cautioned the Federal Housing Finance Agency against adding a question about borrowers’ language preference to the Universal Residential Loan Application without more in-depth consideration of the legal implications of doing so.

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CFPB Finalizes HMDA Technical Corrections, HELOC Reporting Threshold

The Consumer Financial Protection Bureau today issued a final rule making several technical corrections and clarifications to the expanded data collection under Regulation C, which implements the Home Mortgage Disclosure Act, as well as temporarily raising the threshold at which banks are required to report data on home equity lines of credit.

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FinCEN Expands Geographic Targeting Orders to Include Honolulu

The Financial Crimes Enforcement Network today further expanded the scope of its geographic targeting orders temporarily requiring certain U.S. title insurance companies in specified areas to identify the individuals behind companies used to conduct high-end, all-cash real estate transactions.

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Watt: FHFA Will Not Build Short-Term Capital Buffer for GSEs

In a letter to the National Association of Realtors yesterday, FHFA Director Mel Watt signaled that the agency would not move to establish a short-term capital buffer for Fannie Mae and Freddie Mac when the current capital buffer put in place under the terms of the Senior Preferred Stock Purchase Agreements with the Treasury Department expires on Jan. 1, 2018.

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Fannie, Freddie Fail Stress Tests

Fannie Mae and Freddie Mac could need upwards of $100 billion in bailout funds if faced with another financial crisis, according to the results of the GSEs’ Dodd-Frank Act stress tests released yesterday.

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