Mortgage professionals should ensure social media endorsements, online advertisements and other “virtual” marketing services comply with anti-kickback provisions.
A new rule proposed by the FHFA this week would ensure Fannie Mae and Freddie Mac “stay focused on their core mission and do not stray into business the market already serves well” after they exit conservatorship.
The qualified-mortgage patch will stay in place until the “mandatory compliance date” for the new general QM definition, which the bureau is still working to finalize.
A few weeks back there was some hope that, perhaps, the GSE adverse market fee might get scrapped. Not so. Meanwhile, Ocwen keeps trying to turn things around.
Industry watchers said a blue wave would stall GSEs’ recapitalization and exit from conservatorship and likely send FHFA Director Mark Calabria packing.
It appears the CFPB might still look at whether referrals are being made under MSAs and whether the payments are intended to ‘disguise’ the referral arrangement.
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