This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
Mortgage Bankers Association News – Adam DeSanctis
In the week ending August 26, 2022, mortgage applications dropped 3.7 percent from the previous week, according to Mortgage Bankers Association weekly survey.
In conjunction with the implementation of the final rule for the mandatory use of the GUS and LLC system, the following forms have been updated: 3555-11, 3555-17, 3555-18, 3555-21 and will be available with a new revision date of August 2022.
Search our Compliance Calendar for current regulatory changes & updates.
The CFPB announces the Quarterly Graphs tool to assist users in understanding Home Mortgage Disclosure Act mortgage loan data and, for the first time, important HMDA data on mortgage market trends during the collection year itself.
Scotsman Guide - Arnie Aurellano
According to Black Knight Home Price Index’s most recent report, the nation’s median home price finally crossed the line from deceleration to decline.
DS News - Demetria Lester
In July, Ginnie Mae’s outstanding mortgage-backed securities portfolio grew and reached $2.25 trillion.
Mortgage Bankers Association NewsLink
The Mortgage Bankers Association has issued an August 23, 2022, Housing Market Roundup.
"We are already ahead of the game and without having to add additional FTEs."
- Julie Baril, QC Manager at Norcom Mortgage
MBA Newslink--Bill Killmer; Pete Mills
This week’s update includes information on FHFA, Ginnie Mae Issue Final Capital, Net Worth, and Liquidity Standards for IMBs, and Unworkable California Foreclosure Bill Withdrawn by Sponsor.
A 28-count indictment was unsealed today in the Eastern District of California charging a former member of Congress with multiple fraud schemes and campaign contribution fraud.
M Report – Kyle G. Horst
Chairwoman of the House Financial Services Committee calls for accountability from credit bureau Equifax.
M Report - Demetria Lester
In the second quarter of 2022, housing affordability dropped to its lowest point since the Great Recession due to the increasing mortgage rates, inflation, decrease in existing inventory, and elevated home prices.
ACES ENGAGE 2025 registration now open!
Join us at the Broadmoor in Colorado Springs on May 18-20, 2025.
This week's update includes information on Inflation Reduction Act of 2022, fair lending data, affordable housing and other industry issues.
The Federal Trade Commission is sending payments totaling more than $9.7 million to 61,990 consumers who were charged hidden fees by LendingClub Corporation.
Mortgage Bankers Association–Mike Sorohan
CoreLogic and ATTOM show a decrease in mortgage delinquencies and foreclosure activity before the quarterly MBA National Delinquency Survey release.
Mortgage Bankers Association – Mike Sorohan
The Mortgage Bankers Association contacts federal regulatory agencies to discuss topline issues crucial to improving the current Community Reinvestment Act plan.
