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Consumer Group Calls for Tighter Policies to Protect FHA Borrowers

August 30, 2024
Monica Hogan
The Consumer Federation of America has suggested policy changes to help FHA borrowers better compete in the market.
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USDA Updates Handbook to Include New MRA Process

August 30, 2024
Monica Hogan
The updates to the handbook outline guidance for servicing non-performing loans under a new rule, which will be implemented in February.
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FHA Posts Interim Rules on Non-Judicial Foreclosures

August 30, 2024
Monica Hogan
FHA has outlined interim procedures for nonjudicial foreclosures with liens held by the secretary of the Department of Housing and Urban Development.
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MBA Asks HUD to Roll Back Crisis-Era Multifamily DSCR

August 30, 2024
Monica Hogan
The trade group urged the Department of Housing and Urban Development to roll back the minimum debt service coverage ratio and raise the maximum loan-to-cost ratios for FHA’s multifamily loan program.
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Early-Stage Delinquencies Rise in 2Q24, Serious Delinquencies Hit Record Low

August 29, 2024
Brandon Ivey
The increase in early-stage delinquencies tracked an increase in unemployment.
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Fannie Mae Renews Lease on DC Headquarters, Nixes Plan to Move

August 29, 2024
Dennis Hollier
While the GSE said in January that it planned to move its headquarters five years ahead of schedule, it will now remain in the property, but only occupy about half as much space.
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CFPB to Tackle Chatbots, Ease Access for Customer Service

August 29, 2024
Shannon Clark
A new rule is expected from the bureau in the coming months that will require businesses under the CFPB's jurisdiction to allow consumers to speak with a human service representative at the click of one button.
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Short Takes: Two Harbors Resignation / HomeLight Expands AI Tool / LoanDepot Adds to Equity Product Offerings

August 29, 2024
Shannon Clark
Two Harbors Investment Corp. executive is leaving for Granite Point Mortgage Trust.
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CFPB to Snuff Out Customer Service ‘Doom Loops’

August 26, 2024
Shannon Clark
As part of a White House initiative, the CFPB is launching a rulemaking to put a stop to customer service processes that waste consumers’ time and money.
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Contract-for-Deed Lending is Subject to Mortgage Rules

August 26, 2024
Shannon Clark
The advisory opinion holds that contract-for-deed sellers must adhere to Truth in Lending Act requirements such as assessing buyers for repayment and providing borrowers with disclosures.
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