This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
DS News--Demetria Lester
First American Real House Price Index (RHPI), measures the price changes of single-family properties adjusted for income and interest rate changes on consumer house-buying power over time and also serves as a measure of housing affordability.
The FFIEC CRA website has been recently updated to include an ad-hoc release of the MSA median family income, tract income, income percentage, and income level indicator using the 2016-2020 ACS 5-Year estimates.
Search our Compliance Calendar for current regulatory changes & updates.
DSNews Daily Dose - Kyle G. Horst
Findings reported in the latest Foreclosure Market Report, published by ATTOM and its subsidiary RealtyTrac, for March and the first quarter of 2022 indicate that foreclosure activity has surpassed numbers seen before the pandemic.
M Report - Kyle G. Horst
According to the latest information from Reffin, the median rent surged 17% in March to $1,940, its largest annual increase since February 2020.
DSNews Daily Dose- Eric C. Peck
The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey, indicates a 13 basis point decrease in the number of loans in forbearance to just 1.05% as of March 31, 2022.
A new report issued by the Consumer Financial Protection Bureau (CFPB) outlines the financial issues that are primarily facing rural communities, which it refers to as "banking deserts".
Presented by ACES Quality Management's EVP of Compliance, Amanda Phillips, and Ballard Spahr's Reid Herlihy, Richard Andreano, Jr., and Matthew Morr.
M Report - Eric C. Peck
According to Freddie Mac’s weekly Primary Mortgage Market Survey (PMMS) mortgage rates hit 5% for the first time since 2011.
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 Trends Report covering the third quarter (Q3) of 2021. The latest report provides an analysis of post-closing quality control data derived from ACES Quality Management & Control® software.
The March 2022 Survey of Consumer Expectations, published by the Federal Reserve Bank of New York's Center for Microeconomic Data, has been released, indicating what consumers are expecting in terms of inflation, home price growth, spending growth, the labor market, and income expectations.
Reverse Mortgage Daily - Chris Clow
Less than 1% of a total of 32,000 consumer complaints received by the Consumer Financial Protection Bureau (CFPB) in 2021, related to reverse mortgage loans.
Automated compliance tests to ensure compliance on more loans in less time
According to Black Knight, overall rate locks - driven by a rise in purchase loans- were up 19% in March despite a rate jump of 70 basis points during the month.
CNBC--Diana Olick
The average 30-year fixed conforming rate increased to 4.90% from 4.80% for loans with a 20% down payment, refinance applications fell another 10% and purchase applications fell 3% and are 9% lower than this time last year.
Black Knight Inc., a mortgage lending software and analytics provider is reportedly exploring a potential sale after receiving takeover interest.
On April 18, The Clearing House (TCH) will increase the general transaction value limit to $1 million on the RTP® network.
