Compliance Newshub
Disaster News

Chris Clow-Reverse Mortgage Daily

A report released by the nonprofit Transamerica Center for Retirement Studies (TCRS) indicated 23% of workers either employed or recently unemployed express that their confidence in retiring comfortably has declined due to the economic effects of the COVID-19 pandemic. 

Ryan Smith--MPA

The non-qualified mortgage temporarily suspends originations due to the severe hit from the COVID-19 pandemic. 

Freddie Mac reissued Selling Guide Bulletin 2020-17 to remove language in the last column of the “is subject to a repayment plan” row in the Eligibility Requirements table ("being refinanced or any other Mortgage") and update the second column (Eligibility requirements) to add the word “consecutive” to more specifically describe the three-payment requirement.

The CFPB issued two No-Action Letter (NAL) Template: one template enables mortgage servicers to use Brace Software's online platform to implement loss-mitigation efforts for their borrowers; the second template in intended for insured depository institutions to apply for a NAL covering their small-dollar credit products.

Banker’s Compliance Consulting--Jamie Gustafson

FinCEN released the first advisory of 22 red flags, as well as case studies for three different types of medical-related fraud and scams. of what it anticipates to be a series of announcements related to fraud and scams resulting from COVID-19. 

The CFPB issued three FAQs clarifying how ECOA and Regulation B relate to the COVID-19 pandemic.

VA issued a reminder of VA policy requirements related to IRS Form 4506-T and Renewal Applications, Applications for Underwriter Approvals, and Fees to conduct business with VA.

Fannie Mae announces that in response to servicer feedback and as a result of the impact of COVID-19, the December 31, 2020 retirement date for the HomeSaver Solutions Network (HSSN) previously communicated is postponed until a future date (TBD). 

DSNews--Seth Welborn

The Federal Reserve Chairman Jerome Powell testified before the Committee on Banking, Housing, and Urban Affairs on the current state of the CARES Act.

MPA--Candyd Mendoza

Black Knight releases a remote property inspection app to support social distance during the COVID-19 pandemic. 

MPA--Candyd Mendoza

Millions of Americans granted mortgage forbearance during the COVID-19 pandemic feel guilty about it. 

MReport—Mike Albanese

Home activity continues to decline month after month related to CODID-19, according to BuildFax.