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CFPB Eyeing Big Tech, Payments and Crypto

November 8, 2021
Sam Manas
CFPB Director Rohit Chopra raised concerns about how big technology companies operate their payments platforms. The regulator is also looking into risks posed by cryptocurrency.
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Other News in Brief

November 8, 2021
Sam Manas
New York to apply CRA standards to nonbanks; CFPB announces 2022 regulatory thresholds under TILA; CFPB issues advisory opinion on mistaken identity matching.
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AmWest Funding Tops Expanded-Credit MBS Contributors in 3Q21

November 8, 2021
Brandon Ivey
Among the major contributors to expanded-credit MBS, Sprout and HomeXpress Mortgage had the biggest jumps in securitized loans...
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Mortgage Hiring Up Ever So Slightly This Fall. However…

November 8, 2021
Paul Muolo
Lenders and brokers continue to maintain their payrolls, but staff reductions could be on the horizon...
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FHA, VA Loans Could Share in $10 Billion DPA Program

November 5, 2021
Monica Hogan
First-time homebuyers seeking loans backed by FHA, VA or the Rural Housing Service are among those eligible for the DPA program under the Build Back Better Act.
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FHA Seeks Feedback on Servicing Reviews

November 5, 2021
Monica Hogan
FHA is seeking feedback on a proposed section on servicing reviews within its defect taxonomy guidelines.
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VA Updates Appraisal Fees, Timeliness Standards

November 5, 2021
Monica Hogan
Beginning Dec. 1, VA is increasing the appraisal fees of residential mortgages in its loan guarantee program in response to unprecedented demand for appraisal services.
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Senate T-HUD Subcommittee Ups HUD Spending for 2022

November 5, 2021
Monica Hogan
The spending bill would direct $300 million for HUD information technology systems, including those that support FHA mortgage insurance programs and grant programs.
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Senate Judiciary Passes False Claims Act Amendment

November 5, 2021
Monica Hogan
The mortgage industry is applauding the passage of a False Claims Act amendment that would address language in a previous version that could have led to unintended consequences for FHA and VA lenders.
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Rocket Exec Touts Ginnie Alliance on E-Closing Pilot

November 5, 2021
Monica Hogan
Rocket Mortgage recently completed its one millionth e-closing transaction, an executive with the lender said last month during a Ginnie Mae podcast on digital collateral in the government mortgage market.
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