With the high court declining Fannie Mae/Freddie Mac shareholders’ petition for a writ of certiorari, it’s hard to see what legal avenues are still open to these aggrieved investors.
The mortgage servicer reached a relatively modest settlement with the Massachusetts Attorney General’s Office to resolve alleged violations of mortgage servicing and debt collection regulations.
The CFPB wants to create a public registry to track nonbank financial firms that have been cited by a federal, state or local authority for unfair, deceptive or abusive acts or practices. The goal: To add sunshine to the markets and enhance regulators’ supervisory efforts.
Fannie and Freddie recommend the CFPB amend the qualified mortgage rule so that more borrowers, particularly those with small-balance loans, are eligible for refinancing.
Appraisal reform and redlining were major focus areas at an annual event that highlights federal accomplishments in fair lending. The Fed, meanwhile, will release new redlining risk assessment materials, perhaps by the weekend.
Wells Fargo and housing finance trade groups expressed support for expanding access to streamlined refinances and easing barriers to forbearance options for financially struggling consumers.