This topic consolidates legislative summaries of proposed and final regulatory rules impacting the mortgage banking industry today. This includes rules promulgated by federal regulatory agencies as well as up-to-the-minute legislative actions out of Washington, DC.
Mortgage Professional America – Ryan Smith
The Federal Reserve announced that it would keep interest rates close to zero for the near future.
Mortgage Professional America – Ryan Smith
Chairwomen Maxine Waters (D-Calf.) criticizes the Federal Housing Finance Agency for what she said was its inadequate response to the COVOD-19 pandemic.
Search our Compliance Calendar for current regulatory changes & updates.
FinCEN issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on Bank Secrecy Act (BSA) amendments; comments must be received within 60 days of publication in the Federal Register.
The FFIEC, in conjunction with the CFPB, has released a Filing Instructions Guide for HMDA data collected in 2021.
NCUA published a final rule amending its chartering and field of membership (FOM) rules with respect to applicants and existing federal credit unions (FCUs) seeking a community charter approval, expansion, or conversion, in response to an August 2019 opinion and order issued by the D.C. Circuit Court of Appeals; effective September 14, 2020.
DSnews – Christina Hughes Babb
HUD issued a reminder to all grantees who received Emergency Solutions Grants (ESG) or Community Development Block Grant (CDBG) fund that they may use these funds to provide rental assistance or other aid to individuals experiencing financial hardship due to the COVID-19 pandemic and are at risk of being evicted.
"By partnering with ACES, we have witnessed an overall improvement in the quality of our reviews."
-Hilda Melendez, Quality Control Systems Director at Lennar Mortgage
MReport – Phil Hall
ATTOM Data Solutions and Proptech firm CityBldr names Eleven communities across seven states and the District of Columbia as having the best potential for using Opportunity Zone tax befits to revitalize low-income communities economically.
Mortgage Professional America – Ryan Smith
Six Democratic senators are insisting that a government watchdog investigate whether Housing and Urban Development Secretary Ben Carson violated election laws.
DSnews – Christina Hughes Babb
The Consumer Financial Protection Bureau issued a report examining the effects of the COVID-19 pandemic on mortgage loans and other debt through June.
DSnews – Christina Hughes Babb
Bloomberg reported effective immediately; the Center for Disease Control and Prevention(CDC) orders a temporary halt of evictions for consumers earning no more than $99,000 a year.
"ACES has made my life so much easier from a QC perspective. It's life-changing"
- Kelly Cooper Spencer, QC & Business Intelligence Data Manager at Thrive Mortgage
The OCC, FRS, FDIC, FCA, and NCUA are extending the comment period on a proposal to revise the Interagency Questions and Answers Regarding Flood Insurance (Interagency Questions and Answers) until November 3, 2020.
Mortgage Professional America – Ryan Smith
Top lawmakers are demanding the Federal Housing Finance Agency (FHFA) rescind the Adverse Market Refinance Fee (AMFR).
Mortgage Professional America – Ryan Smith
The Federal Housing Finance Agency has extended moratoriums on evictions and foreclosures due to the economic effects of the COVID-19 crisis.
The CFPB issued the second Home Mortgage Disclosure Act (HMDA) analysis of the 2019 HMDA Data.
