Browsing: Mortgage

Mortgage ABA, trade groups call for changes to FHA’s proposed partial claim option

ABA, the Mortgage Bankers Association and the National Mortgage Servicing Association cautioned the Federal Housing Administration that a proposed payment supplemental partial claim option “would significantly increase the operational, compliance, liquidity and reputational risk for mortgage servicers, while introducing potential harm to borrowers.”

Mortgage Agencies release HMDA data for 2022

The Federal Financial Institutions Examination Council released the 2022 Home Mortgage Disclosure Act data on mortgage lending transactions at 4,460 financial institutions, up from 4,338 institutions the previous year.

Mortgage CFPB seeks to ‘streamline’ mortgage servicing rules

CFPB Director Rohit Chopra said that the agency will soon propose ways to simplify and streamline mortgage servicing rules, pointing to temporary changes that sought to protect borrowers during the pandemic as a possible guide for future action.

Mortgage FHA proposes new tool for struggling homeowners

FHA is seeking feedback on a proposal to allow mortgage servicers to use the FHA Partial Claim to both bring a borrower’s mortgage current and provide temporary reductions for monthly mortgage payments for up to five years.

Mortgage ABA seeks mortgage loan originator rule reforms

While well-intentioned, the Truth in Lending Act’s mortgage loan originator rules are extremely complex and continue to cause considerable compliance challenges due to their prescriptive and detailed restrictions on compensation for loan originators, ABA said in a letter to the CFPB.

Mortgage FFIEC issues 2023 guide to HMDA reporting

The Federal Financial Institutions Examination Council’s 2023 Guide to HMDA Reporting is now available for download. The 2023 guide focuses on HMDA data submissions due March 1, 2024, and offers the most official source for assisting institutions in their HMDA reporting.

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