FHFA to delay new DTI ratio-based fee due to operational concerns
The Federal Housing Finance Agency will delay the implementation of a new debt-to-income ratio-based fee until Aug. 1 to allow additional time for lenders to prepare to deploy it.
Browsing: Mortgage
CFPB, DOJ: Lenders can be held liable for discriminatory third-party appraisals
Mortgage lenders can be held liable under federal law for relying on discriminatory appraisals from third-party appraisers, the CFPB and U.S. Department of Justice said this week.
Podcast: How a community bank boosted its consumer mortgage program
How does a community bank whose bread and butter was mortgage lending make the business sustainable in a time when mortgages have increasingly moved to the nonbank sector?
FHA issues final rule for transitioning ARMs off Libor
The Federal Housing Administration this week published a final rule removing Libor as an approved index for adjustable-rate mortgages and replacing it with the Secured Overnight Financing Rate as the approved index for newly originated forward ARMs, effective March 31.
FHFA reduces commingled securities fee after outcry
Fannie Mae and Freddie Mac will reduce the upfront fee for commingled securities to 9.375 basis points starting April 1, the Federal Housing Finance Agency said this week.
ABA, industry groups push for veterans home loan program reforms
In a letter this week, the American Bankers Association and 18 industry and advocacy groups urged the Veteran’s Administration to expand the loss mitigation options available under the VA Home Loan Guaranty Program to help borrowers avoid foreclosure.
FHA proposes changes to lender requirements for review of appraisal requests
This draft also proposes updated appraisal review standards intended to provide mortgagees and appraisers with clarifying guidance regarding the quality of an appraisal report.
Fannie Mae housing survey: Buyers aren’t getting multiple mortgage quotes
Of those who received multiple quotes, interest rate and monthly payment were the leading items homebuyers compared.
ABA, trade groups call for formal HMDA guidance
Lenders need assurances regarding legal and examination risk plus time for lenders to install or refine HMDA systems and achieve compliance.
FSOC report warns of vulnerabilities in CRE, residential mortgage markets
Economic uncertainty and rising borrowing costs have increased risk in both the residential and commercial real estate sectors, which could increase risks to U.S. financial stability, the Financial Stability Oversight Council warned in its annual report.