This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
Housingwire--James Kleimann
The Mortgage Bankers Association has filed an amicus brief in response to the Consumer Financial Protection Bureau and the Department of Justice‘s interest in determining a liability standard that would apply to lenders in cases of alleged bias by third-party appraisers.
MBA Newslink--Bill Killmer; Pete Mills
This week's update includes information about the MBA 2023 National Advocacy Conference, the FHFA Proposes Fair Housing and Fair Lending Rule, and more.
Search our Compliance Calendar for current regulatory changes & updates.
Reverse Mortgage Daily--Keith Becker, Dror Oppenheimer, and Michael Marshall
Former staffers from HUD, FHA, and the GSEs weigh in on how to move forward in this strained reverse mortgage climate.
MBA Newslink--Bill Killmer; Pete Mills
This week's update includes information relating to the CFPB's nonbank proposed registry rule, UDAAP policy, equitable housing plans, and more.
MBA Newslink--Mike Sorohan
The Mortgage Bankers Association is urging the CFPB to withdraw a controversial proposal that would require covered nonbank financial institutions to register with and report to the Bureau when they become subject to certain public local, state, or federal consumer financial protection agency or court orders.
MBA Newslink--Bill Killmer; Pete Mills
This update includes information relating to FHFA payment deferral, debt limits, federal banking, a preview of the GSE update of UAD and URAR, and more.
ACES ENGAGE 2025 registration now open!
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MBA Newslink--Mike Sorohan
The Federal Open Market has raised the federal funds rate by another 25 basis points, and now stands at 4.75-5%, its highest rate since 2009.
DENVER, Colo., March 23, 2023—ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Industry Trends Report covering the third quarter (Q3) of 2022. The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software.
DS News--Eric C. Peck
The MBA's monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by four basis points from 0.64% of servicers’ portfolio volume in the prior month to 0.60% as of February 28, 2023, estimating that approximately 300,000 homeowners are still in forbearance plans.
MBA Newslink
This update includes information relating to FHFA Delays Implementation of DTI-based LLPA and more.
Automated compliance tests to ensure compliance on more loans in less time
Credit Union Journal spoke with Amanda Philips, EVP of compliance at ACES Quality Management, about why down cycles are an ideal time for credit unions to shore up their compliance and quality control processes.
MBA Newslink
This update includes information relating to HUD reducing mortgage insurance premiums for FHA-insured mortgages and more.
The Board of Governors of the Federal Reserve System, FDIC, and OCC issued a joint statement highlighting liquidity risks to banking organizations associated with certain sources of funding from crypto-asset-related entities and some effective practices to manage those risks.
Housingwire--James Kleimann
As widely anticipated by the industry, FHA has announced a 30 basis point reduction in the annual premium charged to mortgage borrowers, resulting in mortgage insurance premiums of 55 bps for most borrowers, down from 85.
