ABA Urges FDIC to Modify Proposed Deposit Insurance Rules for Trust, Mortgage...
The American Bankers Association and two other banking trade groups urged the FDIC yesterday to address concerns about proposed changes to regulations regarding deposit insurance rules for revocable...
View ArticleABA Supports Changes to Eligibility Requirements for Single Family MBS Issuers
The American Bankers Association today wrote to Ginnie Mae in response to a recent request for input on eligibility requirements for single-family mortgage-backed securities issuers. The post ABA...
View ArticleFHA Proposes Changes to Defect Taxonomy
The Federal Housing Administration in recent days posted draft updates for comment on the defect taxonomy for servicing loan reviews, which is used to identify loan-level defects and remedies for these...
View ArticleBowman: Concerns Persist on Nonbank Servicer Regulation
Federal Reserve Governor Michelle Bowman remains “concerned about some of the differences in the prudential oversight of banks and nonbank” mortgage servicers, she said in a speech today. The post...
View ArticleCFPB Flags Mortgage Servicing, Fair Lending Issue in Supervisory Highlights...
The CFPB today issued a “Supervisory Highlights” report focusing on examiner observations of several financial products conducted between January and June of 2021. The post CFPB Flags Mortgage...
View ArticleCFPB, DOJ Remind Servicers of Veteran, Service Member Rights As COVID...
With many COVID-19 mortgage forbearance programs winding down, the CFPB and the Department of Justice today sent letters to mortgage servicers reminding them of service member and veteran mortgage...
View ArticleCRR: Mortgage Servicers Face Forbearance-Exit Tsunami and Aggressive Regulators
“We think the new administration will be aggressive and, quite frankly, willing to press the boundaries, since they can’t really know the limits of their authority unless they test it.” The post CRR:...
View ArticleFDIC Approves Final Rule Simplifying Deposit Insurance for Trust, Mortgage...
The FDIC today approved a final rule to simplify deposit insurance calculations for revocable trusts, irrevocable trusts and mortgage servicing accounts. The post FDIC Approves Final Rule Simplifying...
View ArticleBanking, Consumer Groups Call for Changes to FHA’s Proposed Defect Taxonomy
The American Bankers Association, the Housing Policy Council and the Mortgage Bankers Association today offered comments on recent proposed changes to a section of the Federal Housing Administration’s...
View ArticleIncoming: Flood Insurance Premium Changes from Risk Rating 2.0
Flood insurance providers may begin communicating often substantial rate increases to borrowers this month. Here’s how to prepare for customer questions. The post Incoming: Flood Insurance Premium...
View ArticleFHFA Re-Proposes Updated Seller, Servicer Eligibility Requirements
The Federal Housing Finance Agency today re-proposed updated standards that mortgage lenders would have to meet in order to sell loans to or service loans on behalf of Fannie Mae and Freddie Mac. The...
View ArticleCFPB Encourages Servicer Participation in Federal Homeowner Assistance Program
In a new blog post this week, the CFPB said it “strongly encourages” servers to participate in programs related to the Homeowner Assistance Fund. The post CFPB Encourages Servicer Participation in...
View ArticleFHFA announces foreclosure suspension for borrowers requesting HAF assistance
Mortgage servicers will be required to suspend foreclosure activities for up to 60 days if they are notified that a borrower has applied for mortgage assistance under the Treasury Department’s...
View ArticleABA comments on FHFA’s re-proposed eligibility standards for enterprise...
In a letter to FHFA, ABA commented on the re-proposed update to standards that mortgage lenders would have to meet to sell loans to or service loans on behalf of Fannie Mae and Freddie Mac. The post...
View ArticleSix top concerns for mortgage bankers
These challenges will affect all markets, but will have local distinctions that will be important for market participants to understand as they navigate the uncertain road ahead. The post Six top...
View ArticleCFPB blog post highlights resources for Spanish-language customers
In a new blog post, the CFPB highlighted its resources available to help financial institutions serve their Spanish-speaking customers. The post CFPB blog post highlights resources for Spanish-language...
View ArticleFHFA adds to scope of servicers’ fair lending data collection
The data collected will include borrowers’ age, race, ethnicity, gender and language preference, effective March 2023. The post FHFA adds to scope of servicers’ fair lending data collection appeared...
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View ArticleABA, trade groups call for changes to FHA’s proposed partial claim option
ABA, the Mortgage Bankers Association and the National Mortgage Servicing Association cautioned the Federal Housing Administration that a proposed payment supplemental partial claim option “would...
View ArticleCFPB releases supervisory highlights on mortgage servicing
The CFPB released a supervisory highlights report covering key findings and supervisory actions in mortgage servicing. The post CFPB releases supervisory highlights on mortgage servicing appeared first...
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