By the end of this year, Fannie Mae and Freddie Mac plan to create a clearinghouse of resources such as translated mortgage documents to help borrowers who have a limited proficiency of English.
Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, this week said the agency might make changes to the qualified-mortgage rule.
Compliance experts are hailing last week’s announcement by the Department of Housing and Urban Development to seek comment on whether the agency’s 2013 final disparate-impact regulation is in tune with the 2015 landmark ruling by the Supreme Court of the U.S. in a disparate-impact case.
The Trump administration appears set to name an experienced Washington regulator to take over the top post at the Consumer Financial Protection Bureau, but the process is fraught with challenges.
Residential mortgage lending was down in the first quarter of 2018 in every category, and by roughly similar degrees, according to a new analysis and ranking by Inside Mortgage Finance.
cchappell@imfpubs.com The Community Home Lenders Association wrote the Federal Housing Finance Agency Thursday morning asking Director Mel Watt to investigate and put an end to mortgage insurers offering better prices to lenders based on their size or volume when it comes to government-sponsored enterprise loans. MI pricing disparities have become more prevalent and the CHLA said it’s caused a growing concern among their members because it puts small lenders and their borrowers at a disadvantage. As a…
Goldman Sachs is approaching $1 billion in credit towards reaching a $1.8 billion consumer-relief obligation under two mortgage-related settlement agreements with the Department of Justice and three states, including New York, Illinois and California.
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