This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
DS News – Eric C. Peck
Data released from the U.S. Department of the Treasury on the Homeowner Assistance Fund (HAF) shows a substantial increase in assistance to homeowners at risk of losing their homes in the first quarter of 2023.
DS News–Eric C. Peck
According to the Mortgage Metrics Report, in the first quarter of 2023, the Office of the Comptroller of the Currency (OCC) reported an improvement in performing first-lien mortgages in the federal banking system compared to the previous quarter.
Search our Compliance Calendar for current regulatory changes & updates.
Fannie Mae has published its document custodian notice, including updates to the Requirements for Document Custodian (RDC) Section 8.1 - Mortgage (or Deed of Trust) Note and Active Document Custodians list for 2023.
MBA Newslink
MISMO has published an enhanced version of the Industry Loan Application Dataset (iLAD), an industry standard for the exchange of loan application information.
M Report--Kyle G. Horst
According to Fannie Mae’s Economic and Strategic Research Group, a predicted recession remains the most likely outcome based on the Federal Reserve’s monetary tightening and other market aspects such as inflation, which has lightened slightly due to the easing of domestic and global economic growth.
MBA Newslink
This week's update includes information relating to current bills, flood insurance legislation, and more.
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FDIC
Federal bank regulatory agencies have published the 2023 list of distressed or underserved nonmetropolitan middle-income geographies, the Community Reinvestment Act (CRA) encourages banks to help meet the credit needs of their local communities, including low- and moderate-income communities, in a safe and sound manner.
MBA Newslink--Michael Tucker
The ATTOM U.S. Foreclosure Market Report showed 35,196 U.S. properties with foreclosure filings in May, adding to the 7% increase from April in foreclosure filings, default notices, scheduled auctions and bank repossessions.
MBA Newslink
MISMO, the real estate finance industry’s standards organization, has announced the new MISMO Engineering Guideline (MEG) 24, which outlines the MISMO architecture development and interoperability principles for XML technologies and service requirements as identified by the MISMO constituency.
The OCC has closely monitored the condition of the institutions it supervises and is reporting that the overall strength of the federal banking system is sound.
"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 most recent CFPB reports on financial matters in the South indicate multiple challenges when it comes to access to banking and other financial services.
MBA NewsLink
According to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for June 16, 2023, mortgage applications increased 0.5 percent from one week earlier.
MBA NewsLink
According to the Mortgage Bankers Association’s monthly Loan Monitoring Survey report, the total number of loans in forbearance decreased to 0.49% for May from 0.51% of servicers’ portfolio volume in April.
This week's update includes information on GNMA's expanded use of RON, COVID-19 loss mitigation, legislation updates and more.
