This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
The Federal Deposit Insurance Corporation its list of banks recently evaluated for compliance with the Community Reinvestment Act (CRA) for July 2022.
The July/August 2022 issue of ABA Banking Journal is available online and is fully interactive platform.
Search our Compliance Calendar for current regulatory changes & updates.
DS News - Demetria Lester
According to CoreLogic, the national home price gains exceed 20% in the second quarter.
Mortgage Professional America--Jonathan Russell
Mortgage industry experts predict a housing market slow down versus a crash partly due to the unsustainable home price growth of 2020 and 2021.
MBA Newslink--Bill Killmer and Pete Mills
This weeks update include information on SPCPs, affordable housing crisis, convenience fees and more.
Mortgage Bankers Association
The Mortgage Bankers Association released Industry Briefs for July 1, 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
JDSUPRA--guest author: Danielle Knight
Compliance with real estate anti-money laundering regulations appear to be headed for increased scrutiny from government regulators and enforcement agencies including their reporting obligations.
DS News – Eric C. Peck
Rep. Maxine Waters sent a letter to the Property Appraisal and Valuation Equity (PAVE) Task Force requesting that they implement its planned actions and provide the Committee with a timeline for implementing each action.
Mortgage Bankers Association
The Mortgage Bankers Association released Industry Briefs for June 28. 2022.
DS News – Eric C. Peck
The U.S. Senate Committee on Banking, Housing, and Urban Affairs held the session to examine the National Flood Insurance program.
"We are already ahead of the game and without having to add additional FTEs."
- Julie Baril, QC Manager at Norcom Mortgage
The Office of the Comptroller of the Currency's (OCC) Mortgage Metrics Report, First Quarter 2022 has been published and shows that mortgages current and performing at the end of the period is up from the prior year.
MBA Newslink--Bill Killmer, Pete Mills
This weeks update includes information on a new online toolkit to assist in developing special purpose credit programs, GSEs Equifax guidance, credit score model requirements and more.
BankDirector--David Ruffin
Consumer banks takes most of their risk management cues from external stakeholders, market conditions and regulators however, banks should be more vigilant now than ever and in the upcoming years.
The Veterans Benefits Administration (VA) announced in this circular an update to the funding fee status on Certificates of Eligibility (COE) where the lender has submitted VA Form 26-8937, Verification of VA Benefits, for an active-duty Service member who indicates they have a predischarge disability claim pending with VA.
