Explore the pros and cons of lending beyond the QM limits in this IMF report. In addition to learning why it might make strong business sense to be active in this market, estimated at 10 percent or more of current business, youll also gain additional information on pricing, secondary market considerations and how to protect your company from ability-to-repay violations.
Learn more about the CFPBs supervision and examinationsand how you should prepare for and respond to them. In addition to sections that delve into CFPB oversight powers and the exam process, this special report offers tips for supervised entities on what to do before, during and after the CFPB comes knocking at the door.
Learn all about the Loan Estimate and Closing Disclosure forms and the rules around them in IMFs Guide to the CFPBs Mortgage Disclosure Requirements. The report covers such topics as timing of disclosures, recordkeeping, liability and redisclosures. It also includes a lender perspective section that spotlights important points in the rules that could require major changes in your processes and provides valuable implementation tips.
The new servicing regulations dictate very tight specifics on servicer-borrower communications. Spelled out are the very items that must be included and the precise timing of the communications. There are also increased requirements on what documentation must be kept and how quickly it must be accessible. The servicing regulations also enlist business partners as watchdogs. Servicers are responsible for maintaining pathways that deliver accurate and current information between themselves and their service providers. And loan owners are as liable as servicers for non-compliance. Learn more about the servicing rule, the CFPBs monitoring of servicing transfers, and recent state settlements in this IMF guide.
Learn about the August 2013 QRM proposal and all its ramifications in the IMF Guide to Qualified Residential Mortgages and Risk Retention. In addition to an understanding of what standards the two proposals would require of loans in order for them to be deemed QRMs, youll also learn how the QRM designation affects post-origination actions and how others in the mortgage industry think the proposals will change the market.
The Obama administration has made fair lending enforcement a top priority, and it shows from the vigorous attention that the federal government is placing on the issue. The DOJ and CFPB are stepping up enforcement and HUD has formalized its long-standing disparate impact policy. Inside Mortgage Finances Guide to Fair Lending Compliance details the latest fair lending issues, with insight from officials at the DOJ, industry attorneys and former officials at the CFPB. The Guide covers how the DOJ handles referrals of potential fair lending violations, looks at recent fair lending actions, examines the CFPBs enforcement practices, and delves into HUDs final rule on disparate impact.
The new loan originator compensation rule from the Consumer Financial Protection Bureau builds on the existing rule put forth by the Federal Reserve in 2011. It even clarifies some areas that the Fed rule left murky. But it also broadens qualification standards and, perhaps most importantly, greatly expands the definition of who is covered by its limits. This guide, updated in November 2013, closely examines the new regulation, contrasts its differences from the Fed rule, and discusses important implementation concerns. Youll learn who is covered, what is allowed, what you must do to make your program fit within the rule, and what you need to continually monitor.
The new ability-to-repay rule and its qualified mortgage standard, released by the Consumer Financial Protection Bureau in January, are likely to change the course of business for nearly every player in the residential finance industry. Get a concise examination of the rule, its requirements, and its impacts. Learn what it takes to stay within the ability-to-repay restrictions, what constitutes a qualified mortgage and how the repercussions are likely to affect your business.
Nearly two years after the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law, federal regulators were well behind in meeting deadlines set by the DFA. A number of mortgage-related rulemakings are in progress and the Consumer Financial Protection Bureau created by the DFA has a significant focus on the mortgage industry. This new enhanced Guide includes major updates on CFPB activities, the ability to repay/QM rule, risk retention and QRM, new servicing requirements, LO compensation, mortgage disclosures, MBS ratings and the impact the Volcker Rule will have on the mortgage market.
Learn the latest developments in state mortgage initiatives in this guide. Youll have exclusive details from state regulators on two of their top priorities: loan originator compensation and quarterly reporting of mortgage activity. Youll also find compliance advice from industry attorneys. (Jan. 2012)
Perhaps no other regulator in recent memory has attracted as much attention and controversy as the newly empowered Consumer Financial Protection Bureau. The Dodd-Frank Act established the CFPB in an effort to consolidate federal regulation of most consumer finance practices within a single regulator. (Oct. 2011)
Find out everything you need to know about appraisal data requirements established by Fannie Mae, Freddie Mac and the FHAcalled the Uniform Appraisal Datasetand other issues impacting appraisals in this guide. Youll learn about the impact on consumers, what should be in your appraisal and evaluation program, what the prohibitions are, and more. This Guide will help you get up-to-speed on all the details.(Sept. 2011)
Tough new standards for mortgages are coming. The Dodd-Frank Act requires that qualified mortgages be defined by at least eight stringent underwriting characteristics. Use this special report as your roadmap to where the QM proposal is headed and what you can do to prepare for the changes. The QM provisions account for a small part of the Dodd-Frank Act, but they are likely to establish some of the strongest consumer protections in the history of the mortgage market. (Sept. 2011)
Find out everything you need to know about the Department of Justice's push for fair lending enforcement in the Guide to Fair Lending Enforcement from Inside Mortgage Finance Publications. (July 2010)
The final RESPA rule represents the first major update of the Real Estate Settlement Procedures Act requirements in 30 years. Find out what the new rule means for the mortgage market. (Mar. 2010)
An easy-to-use reference guide to all of the Making Home Affordable programs. (2009)
Get everything you need to know about the appraisal code and how it impacts mortgage industry players. (2009)
Sweeping changes to mortgage rules under the Truth in Lending Act (TILA) and the Home Ownership and Equity Protection Act (HOEPA) extend to all originators and servicers, regardless of how the company is regulated. (2008)
Deciphering hundreds of pages of the Fair and Accurate Credit Transactions Act's final ruling can be daunting, and expensive, and may take away the precious time your company has to become compliant. This report allows you to easily sort through the Act, in a section-by-section format, to get a better grasp on the provisions that affect you the most. (2004)
- GSE Private Mortgage Insurance Profile 2Q14
- GSE Seller Profile: 2Q14
- Mortgage Profitability Report: 1Q14
- Top Mortgage Players: 1Q14
- Agency Condo Market: 2013
- GSE Repurchase Activity Full Year 2013
- Servicing Strategies and MSRs
- Non-Qualified Mortgages
- CFPB Exam and Enforcement
- Mortgage Buybacks Guide 2014
- Mortgage Originations Channels
- CFPB Mortgage Disclosure Requirements
- Qualified Residential Mortgages and Risk Retention
- CFPB's LO Comp Rule
- Ability-to-Repay Rule and Qualified Mortgages
- Fair Lending Compliance
- CFPB Regulation of Mortgage Servicing
Home-equity lending is beginning to show new life. My company (pick one):
- Plans to enter this market over the next 12 months.
- Is already making home equity loans and hopes to increase the offerings.
- Is in the market but dont expect much growth.
- Is not making second liens and has no plans to do so.
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