While major rulemakings will pause until a new presidential administration takes over, work will continue on proposed rules, according to regulatory agency leaders.
The final rule is essential in helping to reduce risks of discrimination in automated-valuation models used in the mortgage market, according to CFPB Director Rohit Chopra and Deputy Director Zixta Martinez.
The final rule on the use of automated valuation models in mortgage lending includes a standard that seeks to ensure compliance with nondiscrimination laws.
The $3.4 million settlement resolves charges that the Arkansas-based Bank of England engaged in bait-and-switch and other deceptive practices when refinancing VA mortgages.
The Federal Housing Finance Agency last week joined the OCC, FDIC and NCUA in reproposing a rule that will prohibit incentive-based compensation agreements.
With banking regulators considering how to revise their Basel III endgame proposal, the U.S. Mortgage Insurers stressed that regulators should look more favorably on loans with private MI.
Regulators were aware that the three regional banks that failed last year had large amounts of uninsured deposits and high exposure to FHLBank advances.