This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
DS News - Demetria Lester
Ginnie Mae announced the extension of the implementation date of the RBC requirement to December 31, 2024.
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The Mortgage Bankers Association predicts mortgage rates will return to around 5.4% by the end of 2023.
Search our Compliance Calendar for current regulatory changes & updates.
DS News - Eric C. Peck
The FHFA has announced changes to the GSE’s guarantee fee pricing by disregarding upfront fees for specific borrowers and affordable mortgage products while implementing targeted increases to the upfront fees for most cash-out refinances.
MBA Newslink
The Mortgage Bankers Association predicts the total mortgage origination volume will decline to $2.05 trillion in 2023 from the $2.26 trillion expected in 2022.
MBA Newslink--Bill Killmer; Pete Mills
This week’s update includes information on Ginnie Mae Extends Implementation Deadline for Risk-Based Capital Requirement, VA Publishes Loss Mitigation ANPR, and more.
A Federal Trade Commission (FTC) press release indicates that a consent order against the online real estate listing service known as Opendoor has been finalized with the goal of preventing customers being misled about cost savings from using the service, along with the assessment of a $62 million dollar penalty to be used to recompense customers harmed by the company's practices.
"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
Mortgage Bankers Association NewsLink
The Mortgage Bankers Association has issued October 20, 2022, Housing Market Roundup.
DS News - Demetria Lester
According to the FHFA’s most recent report, Foreclosure Prevention, Refinance, and Federal Property Manager's Report for July 2022, the number of loans in forbearance continued to decrease since the peak in May 2020.
MBA Newslink
According to Mortgage Bankers Association, mortgage applications for new home purchases continue to decline.
MBA Newslink
According to the Mortgage Bankers Association monthly Loan Monitoring Survey, loans in forbearance decreased by three basis points in September.
PacRes Mortgage Improves Quality Control Accuracy by over 30% While Decreasing non-compliance incidents by 25%
MBA Newslink--Bill Killmer; Pete Mills
This weeks update includes information on HUD's annual MIP, FHA handbook recommendations, and more.
The Nov/Dec 2022 issue of the ABA Banking Journal is now available and accessible online.
MBA NewsLink – Michael Tucker
The Mortgage Bankers Association applauds the Federal Housing Finance Agency for its proposed rule establishing 2023-2024 Multifamily Enterprise Housing Goals for GSEs.
MBA Newslink
According to a recent report from ATTOM, foreclosure activity increased by 3% in the third quarter and 104 percent from a year ago.
