Six top concerns for mortgage bankers
These challenges will affect all markets, but will have local distinctions that will be important for market participants to understand as they navigate the uncertain road ahead.
Browsing: Appraisals
Interagency Task Force Issues Action Plan to Address Appraisal Bias
An interagency task force including the Department of Housing and Urban Development, the Federal Housing Finance Agency and the federal banking agencies today released an action plan to ensure appraisal and valuation equity for all Americans.
CFPB Outlines Automated Valuation Model Rulemaking Proposals
The CFPB today announced the next step in a joint agency rulemaking to develop quality control standards for the use of computer models, known as automated valuation models, used to help assess home valuations.
The Increasingly Hot Topic of Climate Change: What Compliance Officers Need to Know
Climate change is a big issue, but compliance officers are adept at issue management. Start with root cause analysis.
OCC’s Hsu: Addressing Appraisal Bias Requires ‘Collective Effort’
Acting Comptroller of the Currency Michael Hsu told attendees at a CFPB roundtable today that banks are being held accountable when they rely on housing appraisals that are discriminatory.
ABA Supports Appraisal Modernization for Fannie, Freddie
The American Bankers Association today offered feedback to the Federal Housing Finance Agency on appraisal-related policies and practices for Fannie Mae and Freddie Mac, noting that it “fully supports creating new alternatives to the traditional appraisals available in the market today.”
Agencies Issue Final Rules on Appraisals, LCR Relief
The federal banking agencies today finalized two rules intended to provide relief for financial institutions as a result of actions taken to aid in the coronavirus response.
When Can I Pull A Credit Report on an Existing Loan Customer?
…and other answers to your compliance questions in the May/June 2020 ABA Regulatory Policy and Compliance Inbox.
Agencies to Temporarily Defer Appraisals, Evaluations for Real Estate Transactions
The federal banking agencies issued an interim final rule this evening allowing financial institutions to temporarily defer appraisals and evaluations for residential or commercial real estate transactions for up to 120 days during the COVID-19 national emergency.
FHFA Announces New Measures to Ensure Liquidity in Mortgage Markets
To help ensure liquidity in the secondary mortgage market, the Federal Housing Finance Agency today directed Fannie Mae and Freddie Mac to engage in additional dollar roll transactions, which would provide investors in mortgage-backed securities with short-term financing of their positions.