This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
MBA Newslink--Bill Killmer and Pete Mills
This weeks update includes MBA comments on FDIC statement of principles on climate-related risk management, HUD’s proposed 40-year modification, GSE capital framework disclosures and capital planning and more.
The FDIC issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act.
Search our Compliance Calendar for current regulatory changes & updates.
MBA Newslink--Tara Dunion
MISMO®, the real estate finance industry standards organization, is seeking public comment on its latest version of the MISMO Life of Loan Process Model with the 60-day comment period ending on August 1.
MBA Newslink
Residential properties in the foreclosure process increased by almost 13% in the second quarter and by nearly 16% in the last year per a recent Vacant Property and Zombie Foreclosure Report that also estimated 1.3 million residential properties in the US are vacant.
Federal Trade Commission
According to a new FTC analysis, consumers have reported over $1 billion in losses to cryptocurrency fraud in the last year as cryptocurrency is quickly becoming the payment of choice for many scammers, with about one out of every four dollars reported lost to fraud paid in cryptocurrency.
The FDIC has issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the third and fourth 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 – Eric C. Peck
According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, the first quarter of 2022 ends with U.S. home prices on the upswing.
DS News - Kyle G. Horst
The U.S. Mortgage Insurers (USMI), has announced the industry has transferred more than $55 billion in risk on nearly $2.8 trillion of insurance in force from 2015-to 2021.
MBA Newslink
This weeks update includes information on HUD hearings, House Financial Services Committee considerations, CFPB’s May 2022 COVID-19 Mortgage Servicing Report, and more.
Fortune--Tristan Bove
With a recession nearing, more and more banks and investors agree that an economic contraction within the next few years is likely.
Presented by ACES Quality Management's EVP of Compliance, Amanda Phillips, and Ballard Spahr's Reid Herlihy, Richard Andreano, Jr., and Matthew Morr.
Housingwire--Connie Kim
The increase in mortgage fraud in the last 3 years was in large part due to a surge in online and mobile-only mortgage transactions according to a new report analyzing fraud trends.
Housing Wire - Flávia Furlan Nunes
The Mortgage Bankers Association‘s (MBA’s) Market Composite Index indicates applications have declined consistent with the MBA's May Forecast.
Fannie Mae--Lyle Radke and Justin Alexander
This perspective blog discusses mortgage lender's thoughts on appraisal modernization, including benefits, implementation challenges, and possible applications.
The May/June 2022 issue of the ABA Banking Journal is now available and accessible online.
