The National Association of Federally-Insured Credit Unions has called upon CFPB Director Kathy Kraninger to exempt credit unions from the agency’s supervisory and enforcement activity.
Commercial banks and savings institutions reported a total of $71.41 billion in home loan originations through their retail mortgage banking platforms during the third quarter of 2018, according to an Inside Mortgage Trends analysis of call report data. Retail mortgage production was down 5.1 percent from the second quarter and left year-to-date originations 13.6 percent below the amount reported during the first nine months of last year. The figures ... [Includes one data chart]
Employee satisfaction at the CFPB has taken a big hit over the past year, according to a ranking by nonprofit organization Partnership for Public Service and Boston Consulting Group.
Agencies issue guidance on 37 key data fields for HMDA examination; Rep. Maxine Waters formally nominated to chair the House Financial Services Committee.
Repurchases of GSE loans by Fannie Mae and Freddie Mac sellers continued to decline in the third quarter, though the pipeline of unresolved buyback demands ticked higher. [Includes one data chart.]
With financial institutions set to report mortgage disclosure data collected in 2018 to the Consumer Financial Protection Bureau, attorneys are concerned that it may lead to an increase in fair lending investigations and enforcement actions by government agencies.
After several years of deliberations on how Fannie Mae and Freddie Mac use credit scores, the Federal Housing Finance Agency last week proposed a new rule on how the government-sponsored enterprises would consider new scoring methods.
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