Browse articles from all of our Newsletters related to HMDA.
January 16, 2017 - Inside the CFPB
Bureau Mulling Possible Changes to HMDA Resubmission Guidelines. Its been roughly one year since the CFPB issued a request for information regarding Home Mortgage Disclosure Act resubmission guidelines, and the bureau has yet to decide which way to proceed. The agency received 31 comments in response to the RFI, which was published Jan. 12, 2016, in the Federal Register. Commenters included HMDA reporters, industry trade groups, and consumer groups.... Revisions to Interagency Compliance Rating System Still Pending. The CFPB and the other members of the FFIEC continue to review public comments on their April 29, 2016, proposal to revise the existing Uniform Interagency Consumer Compliance Rating System to reflect regulatory, supervisory, technological, and market changes since the system was established....
January 6, 2017 - Inside Nonconforming Markets
The denial rate on jumbo mortgages varies significantly among lenders, according to an Inside Nonconforming Markets analysis of data from the Home Mortgage Disclosure Act. Among the top 25 lenders, denial rates for jumbo applications in 2015 ranged from a low of 2.3 percent to a high of 76.8 percent. Overall, the top 25 lenders denied 18.1 percent of the $367.49 billion in total unpaid principal balance for jumbo-mortgage ... [Includes one data chart]
January 5, 2017 - Inside Mortgage Finance
Regulators are working to get a better understanding about the ownership of mortgages, particularly for the span between origination and final funding, according to the Office of Financial Research. Regulators now collect origination data and loan performance data about much of the home mortgage market, the OFR said in its recently published 2016 financial stability report. However, they do not collect data about ownership of a mortgage between origination and final funding. Information on this short phase in the life of a loan is needed for a full picture of risks. The OFR, an office of the Treasury Department that was established by the Dodd-Frank Act, noted...
December 15, 2016 - Inside Mortgage Finance
Appraisal-related issues cause more than one out of every 10 purchase-mortgage applications to be denied, according to CoreLogic. Below-contract appraisals comprised 11.3 percent of the first-lien purchase-loan appraisals ordered through the CoreLogic/FNC Collateral Management System, according to Yanling Mayer, director of research in CoreLogics office of chief economist. The CMS is a workflow and compliance platform used by many lenders, servicers and appraisal management companies. Mayer noted...
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