The MBA is taking its concerns about rising costs associated with obtaining credit scores to the FHFA, CFPB and FTC. A CFPB official said the regulator is willing to consider looking into the issue.
Counterintuitively, the bi-merge will increase the number of credit pulls necessary to complete the average mortgage loan application. Consumers will ultimately pay for those extra pulls.
Banks, nonbanks and consumer advocates have major concerns about a proposal to adjust capital requirements for large banks. The proposal would touch on mortgage lending, MSRs and warehouse lending.
By automating its biennial review system, the FHLBank regulator has dramatically reduced the number of member institutions that are inadvertently omitted from community support reporting.
Based on a new proposal, it would seem that banking regulators are paying closer attention to how much money federally insured depositories are lending to nonbanks.
Appraisers are supposed to adjust the value of comparable properties to account for home price appreciation. FHFA found that most either don’t make these time adjustments or make them too small.
Seven Republicans in the Senate wrote to federal banking regulators, amplifying concerns already raised by mortgage industry participants about proposed revisions to capital requirements for large banks.