The CFPB argued that under the Electronic Funds Transfer Act and the Dodd-Frank Act, it was well within its authority to require mandatory disclosures.
Unlike during the Great Recession, when lenders pulled back on consumer access to credit, new credit for mortgages and auto loans loosened during the pandemic.
Bryan Schneider lands at Manatt; New York amends foreclosure requirements; Connecticut extends pandemic-related requirements to federally backed loans; another settlement for Wells Fargo; Mr. Cooper seeking dismissal of lawsuits.
Fannie Mae said its mortgage servicers are authorized to offer payment forbearance for up to 90 days to those impacted by Hurricane Ida, even if they don’t hear from the homeowner — that is, if the servicer believes the homeowner was affected by the disaster.
For the most part, the uniform MBS 2.0 (Fannie Mae/Freddie Mac) remains the industry’s benchmark as lenders continue to produce new loans —and MBS — at a decent clip but under a cloud of lower profit margins.
The growth gap between private mortgage insurers and insurance-in-force at FHA widened in the second quarter, Keefe, Bruyette & Woods said in a new report.
The mortgage industry wants HUD to reconsider its proposal to recodify the 2013 disparate-impact theory as it predates and is inconsistent with binding Supreme Court precedent.
A continuing shortage of housing inventory makes it more important than ever that sellers and real estate agents understand how quickly VA loans can close. At least, that’s what VA lenders believe.
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