FHA single-family production rose 22.3 percent in 2012, but another increase in the mortgage insurance premiums will likely accelerate the programs three-year decline in market share.
HUD has released its long-awaited disparate impact final rule, sending notification to the industry that housing policies and practices can be determined to be discriminatory not simply through their intent, but also by their effect.
The Department of Housing and Urban Development released its long-awaited disparate impact final rule last week, formalizing for the first time the long-held interpretation of the Fair Housing Act by HUD, which has repeatedly asserted that housing policies and practices can be determined to be discriminatory not simply through their intent, but also by their effect. As weve learned over the years, housing discrimination comes in many forms. Discrimination doesnt have to be intentional in order to have a damaging...
The CFPBs legal position on a borrowers right of rescission under the Truth In Lending Act again swayed the day for a consumer. This time, it was the Third Circuit Court of Appeals, in Sherzer v. Homestar Mortgage Services, that agreed with the bureaus legal argument that a lawsuit filed more than three years after a mortgage has been closed can be brought, so long as the borrower sent the lender a written notice of rescission within the three-year period.In this instance, borrowers Daniel and Geraldine Sherzer obtained...