This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
This weeks update includes information on the Financial Stability Oversight Council’s annual report, HUD Secretary Fudge Testimony, the Equal Credit Opportunity Act and its implementing rule of Regulation B, and more.
DS News – Kyle G. Horst
According to Epiq, April 2022 bankruptcy filing statistics from its new Bankruptcy Analytics platform found that filings decreased by 10% last month.
Search our Compliance Calendar for current regulatory changes & updates.
National Mortgage Professional - Katie Jensen
Household debt has increased $266 billion for the first quarter of 2022 while new mortgage loan originations dropped to the lowest since the second quarter of 2020, according to the Federal Reserve Bank of New York's quarterly household debt report.
National Mortgage Professional -- Keith Griffin
On May 12, Julia Gordon was confirmed as the next Federal Housing Authority (FHA) commissioner.
According to a report by ATTOM, properties with foreclosure filings in April decreased by 8 percent from March but increased by 160 percent from a year ago.
MBA Newslink--Bill Killmer and Pete Mills
This weeks update includes the following, Banking Agencies Propose Joint CRA Overhaul, FHA Creates Exclusive Listing Period for CWCOT Post-Foreclosure Sales, CFPB Releases Spring Supervisory Highlights and more.
Presented by ACES Quality Management's EVP of Compliance, Amanda Phillips, and Ballard Spahr's Reid Herlihy, Richard Andreano, Jr., and Matthew Morr.
Mortgage Professional America--Richard Torne
Mortgage experts provide comments with regard to the increasing interest rates and impacts to the housing industry.
National Mortgage News - Mark Paoletti/MortgageElements.com
The monthly summary of key economic indicators, data, and events pertinent to mortgage and real estate professionals has been published.
The Federal Deposit Insurance Corporation (FDIC) has published a Consumer News issue relating to the financial needs of small businesses.
MBA Newslink--Bill Killmer, Pete Mills
This issue includes information regarding the following, CFPB Director congress testimony, MBA views on FHFA capital, liquidity and net worth for GSE servicers, GSE duty to serve plans, HUD ML 2022-06, Maine remote online notarization 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
M Report - Kyle G. Horst
According to ATTOM Statistics, profits on median-priced home sales have fallen for the first time since 2019, indicating the recent housing boom may be slowing.
Mortgage Professional America--Candyd Mendoza
More than 10,000 members of the National Association of Home Builders are asking the government to take action on the “growing housing affordability crisis,” demanding urgent action to tackle the affordability crisis including lifting the lumber tariffs and reducing burdensome regulations.
CNBC--Diana Olick
Mortgage interest rates went up again stalling refinance demand and pushing potential homebuyers to apply for riskier loan products which offer lower rates.
MBA Newslink
The MBA sent a letter to the FHFA with recommendations on the agency’s re-proposal of eligibility requirements for seller/servicers of single-family loans backed by Fannie Mae and Freddie Mac featuring an increase in base liquidity requirements for servicers and introducing new liquidity requirements based on the size of an institution’s servicing portfolio and its TBA hedging position.
