This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
MBA Newslink--Bill Killmer; Pete Mills
This week’s update includes information on MBA participants in the White House meeting on housing supply and affordability. CFPB releases RFI regarding mortgage refinances and forbearance, and major bank CEOs testify before congress.
As part of a broader CFPB initiative promoting competition and innovation, the information request seeks insight on new mortgage options to support homeowner stability.
Search our Compliance Calendar for current regulatory changes & updates.
MBA Newslink--Mike Sorohan
IN an effort to ensure RHS programs are accessible, David Battany, Co-Chair of the MBA Affordable Homeownership Advisory Council, told members of a Senate Banking subcommittee that policymakers can advance rural housing lending by addressing three areas: better workflow; better technology; and better loan products.
The Federal Trade Commission and the California Department of Financial Protection and Innovation (DFPI) have taken action against Home Matters USA and related companies after the operation misled consumers and scammed them out of millions of dollars.
The United States Department of Agriculture (USDA) established its Single-Family Housing Guaranteed Loan Program in 1991 to help expand access to mortgage financing in rural areas, and this week, the U.S. Senate Committee on Banking, Housing, and Urban Affairs will host a hearing titled “Examining the U.S. Department of Agriculture’s Rural Housing Service: Stakeholder Perspectives”.
MBA Newslink--Bill Killmer; Pete Mills
This weeks update includes information on FHA annual MIP reduction, VA appraisal modernization legislation, FHA catalyst electronic appraisal delay and more.
"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
According to the latest report from CoreLogic, mortgage fraud risk decreased by 7.5 percent year over year as of the end of the second quarter.
DS News--Eric C. Peck
A Redfin study using data from 3 months worth of randomized controlled data, involving 17.5 million Redfin.com users, half of which had access to property-level flood-risk scores (treatment group), and half of which did not (control group) has found that homebuyers who have access to flood-risk information when searching home listings online are more likely to view and make offers on homes with lower flood risk than those who don’t have access.
MBA Newslink--Bill Killmer; Pete Mills
This week's update includes information on FHA 203(k) rehab program improvements, upcoming MBA education webinars and more.
M Report – Kyle G. Horst
CoreLogic reports that home equity has reached a new high in the second quarter of 2022.
"ACES has shined a light on our productivity and empowered us to hold our teams accountable."
- Emilee Rada, Director of Lending Operations at Georgia's Own Credit Union
DS News – Kyle G. Horst
Aspen Grove Solutions has introduced a new collections solution for mortgage servicers.
Overall critical defect rate trends downward for a second straight quarter despite challenging mortgage lending environment.
The findings of the FDIC and FinCEN Digital Identity Tech Sprint which was announced on April 4, 2022, are now available through FinCEN's website.
NEXT
Milo announced that they had launched the world’s first crypto refinance product.
