Implementation of the Consumer Financial Protection Bureau’s 2015 Home Mortgage Disclosure Act rule resulted “astoundingly high” costs for creditors, the American Bankers Association said in a joint comment letter with the Bank Policy Institute, Consumer Bankers Association, Housing Policy Council and Mortgage Bankers Association today.
An entrepreneurial culture, an excitement about problem-solving and an insistence on moving quickly explains why Leader Bank continues to grow.
The share of current and performing first-lien mortgages in the second quarter of 2019 was 96.1%, up from 95.6% a year ago, according to the Mortgage Metrics Report released today by the OCC.
In a move intended to level the playing field in the mortgage market, the Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac not to provide volume-based discounts for guarantee fees they charge lenders.
In a joint comment letter to the Department of Housing and Urban Development last week, the American Bankers Association and three other financial and housing trade associations offered feedback on a recent proposal by the Federal Housing Administration to revise the annual certification statements for lenders.
In a letter to the Federal Housing Finance Agency yesterday, the American Bankers Association commended the agency for swiftly replacing its Monthly Interest Rate Survey with an alternative index, the PMMS+ index.
The Treasury Department today issued a much-anticipated blueprint for housing finance reform that includes providing explicit and paid-for federal government support for the secondary market, ending the more-than-decade-long conservatorships of Fannie Mae and Freddie Mac and promoting greater private-sector competition in housing finance.
The Federal Housing Administration issued a final rule today providing greater flexibility for individual condominium owners to obtain an FHA-insured mortgage.
As expected, the Federal Housing Financial Agency issued a final rule—as directed by the S. 2155 regulatory reform law—establishing new requirements for the validation and approval of credit score models by Fannie Mae and Freddie Mac.