According to Nelson Mullins attorneys, the DOJ is conducting statistical analyses on HMDA loan application register data to unearth potential fair lending violations.
By punting on this GSE case, the appeals court effectively ends shareholders’ constitutional and Administrative Procedures Act claims. Now, all eyes turn to a breach of contract battle in district court.
Regulatory oversight of nonbank mortgage lender/servicers has increased in recent years, but most of the actions have been uncoordinated. In the latest move, FHFA proposed financial standards for GSE seller/servicers.
In a statement of interest, the Department of Justice said the court should hold that the Fair Housing Act applies to discriminatory appraisal practices.
The FHA said its multifamily portfolio has proven to be consistently resilient to significant COVID-19 impacts, and temporary underwriting requirements were no longer needed.
Acting Comptroller of the Currency Michael Hsu believes updated CRA standards should reflect changes in the business of banking, particularly the increased use of mobile and internet delivery channels.
The Federal Housing Finance Agency’s OIG found that the $250,000 “retention award” in question could amount to the payment of a “bonus” in violation of the STOCK Act.