Some guidance documents tied to the Real Estate Settlement Procedures Act were not among the dozens of guidance documents withdrawn by the CFPB earlier this year.
CFPB proposal on ECOA being reviewed by OMB; NTEU drops one lawsuit against CFPB; ABA asks federal agencies to make sure OCC upholds a national bank preemption standard.
The GSEs continue the modernization of the datasets critical to the mortgage industry, including updates that will be key to the implementation of multiple credit scores for mortgage borrowers.
The agency is appealing a jury verdict awarded to GSE shareholders for losses related to the net worth sweep. FHFA is also facing a lawsuit tied to an untimely response to a FOIA request.
FHFA terminated the advisory committee on affordable, equitable and sustainable housing, and has withdrawn from an international green financing network.
Bayview Asset Management first acquired a stake in Guild Mortgage in 2020. BAM is on track to fully acquire the lender by the end of the year, after an effort by a competing bidder didn’t proceed.
Retail originations of mortgages by banks and thrifts sharply increased in the second quarter. The industry also reported a more modest increase in secondary-market mortgage sales. (Includes two data tables.)
Manufactured housing supply might be due to increase if the Trump administration enacts certain reforms, potentially opening a broadly untapped market for mortgage lenders.
A solid quality control program is critical to mitigating fraud risk, as well as protecting a lender’s perceived risk, according to industry attorneys.
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