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 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 parts of your business you should examine as you make your implementation plans, what you must do immediately and what you cant do before January 2014.
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 FHA—called the Uniform Appraisal Dataset—and 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 Seller Profile: 3Q13
- GSE Repurchase Activity First Half 2013
- Top Mortgage Players: 2Q13
- Mortgage Profitability Report: 2Q13
- GSE Market Profile: FY12
- GSE Private Mortgage Insurance Profile
With loan volumes falling, particularly refinancings, where do you see originations coming in at in 2014?
- $1.4 trillion to $1.6 trillion
- $1.2 trillion to $1.39 trillion
- $1 trillion to $1.19 trillion
- Beam me up, Scotty
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