The FDIC today approved a final rule to simplify deposit insurance calculations for revocable trusts, irrevocable trusts and mortgage servicing accounts.
As the CFPB undertakes its planned assessment of the 2015 Home Mortgage Disclosure Act regulations…
The Federal Housing Finance Agency said today it will increase fees for certain Fannie Mae and Freddie Mac high-balance loans and second home loans starting on April 1. Fees for high-balance loans will increase between 0.25% and 0.75%, and second home loan fees will rise between 1.125% and 3.875%, with both types tiered by loan-to-value ratio, FHFA said.
“We think the new administration will be aggressive and, quite frankly, willing to press the boundaries, since they can’t really know the limits of their authority unless they test it.”
With many COVID-19 mortgage forbearance programs winding down, the CFPB and the Department of Justice today sent letters to mortgage servicers reminding them of service member and veteran mortgage borrowers’ rights under federal laws and regulations, including the CARES Act, the Servicemembers Civil Relief Act, Regulation X and Regulation Z.
The Federal Housing Finance Agency today issued a proposed rule requiring Fannie Mae and Freddie Mac to submit annual capital plans and provide prior notice for certain capital actions.
The FDIC board yesterday determined that no changes will be made to the definition of “qualified residential mortgage” and related provisions of the credit risk retention rule, as recommended by ABA and other financial trade groups.
The share of current and performing first-lien mortgages in the third quarter of 2021 was 95.6%, up from 92.5% a year ago, according to the Mortgage Metrics Report released by the OCC today.
The CFPB today issued a “Supervisory Highlights” report focusing on examiner observations of several financial products conducted between January and June of 2021.
The American Bankers Association and a coalition of trade groups today—in response to an advanced notice of proposed rulemaking by the Department of Housing and Urban Development—asked the Federal Housing Administration to issue a clear roadmap for servicers of FHA-insured adjustable-rate mortgages as the agency transitions from Libor to alternative reference rates.