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State Regulators Tightening Cybersecurity Requirements

September 18, 2023
Sam Manas
Regulators in New York and California are stepping up their notice requirements for security incidents. California is also in the process of enhancing consumer data rights.
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Other News in Brief

September 18, 2023
Brandon Ivey
Credit unions want reforms for CFPB; CFPB, states take action against firm offering point of sale financing; CFPB warns on college tuition payment plans; updates to NMLS policy guidebook; MISMO offers best practices for servicing transfers.
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Fannie Intervenes in AmeriFirst Bankruptcy

September 15, 2023
Dennis Hollier
Fannie tells court AmeriFirst has no property interest in its mortgage servicing rights.
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GSEs Delay Fee Disclosure Requirements on UCD

September 15, 2023
Dennis Hollier
High failure rates for lenders trying to implement new edits to certain fee disclosure requirements in Phase 3B of the Uniform Closing Database persuaded Fannie and Freddie to postpone those changes.
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GSEs Update Policies on Originations, Servicing

September 15, 2023
Brandon Ivey
Fannie and Freddie adjusted various origination policies. Fannie also has changes for master servicers in the works.
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Freddie Still Buying Back Old STACRs

September 15, 2023
Dennis Hollier
Despite offering higher premiums, Freddie is finding it difficult to convince investors to give up their credit-risk transfer notes.
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Climate Risk Stressing Insurers, Servicers

September 15, 2023
Sam Manas
As severe weather events batter major housing markets, borrowers are finding it difficult and expensive to obtain homeowners insurance, according to panelists at a Mortgage Bankers Association conference.
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Mortgage Industry Comes with Unique Cyber Risks

September 15, 2023
Sam Manas
Michael Nouguier, chief information security officer at Richey May, said the public-facing nature of loan officers’ work can expose them to targeted attacks.
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Lenders Focusing on High-Dollar Loans Fare Better, MBA Finds

September 15, 2023
Monica Hogan
A new white paper from the Mortgage Bankers Association underscores the financial advantages of originators and servicers that focus on loans with a higher average loan balance.
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Mixed Views on FASB Accounting Proposal

September 15, 2023
James Dohnert
A FASB accounting standards proposal would streamline the methods used to calculate the value of acquired assets.
Read More
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