This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
The Office of the Comptroller of the Currency (OCC) has published its Semiannual Risk Perspective for Spring 2022, highlighting issues facing the federal banking system.
Tech Crunch--Carly Page
Flagstar Bank has notified more than 1.5 million customers of a data breach that included Social Security numbers, in its second cyber incident in two years.
Search our Compliance Calendar for current regulatory changes & updates.
MBA Newslink--Bill Killmer and Pete Mills
This week's update includes information on the FHFA 2021 annual report to congress, bipartisan data privacy legislation, flood insurance hearings and more.
BAI--Jason Kratovil
Consumers with poor credit and so-so credit are more and more reaching out to credit repair companies that in essence, paints a false picture of a person’s credit risk as well as opens the door for scammers to boost scores causing significant losses for banks and consumers.
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According to The Wall Street Journal, the sizzling housing market is helping people in danger of foreclosure dodge the bullet of losing their homes.
Mortgage Professional America–Richard Torne
According to ATTOM, the number of vacant zombie properties in the US increased in the 2nd quarter, causing a rise in foreclosure activity.
ACES ENGAGE 2025 registration now open!
Join us at the Broadmoor in Colorado Springs on May 18-20, 2025.
DENVER, Colo., June 16, 2022—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 fourth quarter (Q4) and full calendar year (CY) of 2021. The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software.
MBA Newslink--Bill Killmer and Pete Mills
This weeks update includes information regarding the GSEs release equitable housing finance plans, FHFA new pilot GSE transparency framework, Equifax credit coding errors and more.
DS News - Demetria Lester
According to a recent CoreLogic Homer Price Index and HPI Forecast for April 2022, home prices are up nearly 21% nationwide compared to a year ago.
Housing Wire - Georgia Kromrei
Freddie Mac issued a letter to lenders stating that the recently reported coding error in Equifax credit reporting “may have impacted” 12% of credit reports issued during the time period before the glitch was corrected.
Presented by ACES Quality Management's EVP of Compliance, Amanda Phillips, and Ballard Spahr's Reid Herlihy, Richard Andreano, Jr., and Matthew Morr.
DS News - Kyle G. Horst
According to Epiq’s new Bankruptcy Analytics platform, bankruptcy filings decreased by 3.74% in May.
DS News - Eric C. Peck
The inaugural mission report of the Federal Housing Finance Agency (FHFA) entitled “2021 Mission Report: Affordable Housing Activities of the Regulated Entities,” was released on June 6, 2022.
MBA Newslink--Tara Dunion
MISMO®has launched a new guide and sample credit response to help industry professionals using MISMO Reference Models v3.4 and v3.5 better report on loans that have been in or are in forbearance.
The Financial Crimes Enforcement Network (FinCEN) has issued an advance notice of proposed rulemaking regarding a no-action letter process where an agency states by letter that it will not take an enforcement action against the submitting party for the specific conduct presented to the agency and has the potential to promote innovation and overall effectiveness of the AML/CFT framework and the implementation of financial institutions’ compliance programs.
