CFPB Continues Crackdown on False Ads to Veterans October 30, 2020 Maria Volkova In its ninth and largest action since July against false marketing practices targeting veterans, the bureau fined Low VA Rates $1.8 million.Read More
New BIA Requirement Pauses Lending on Tribal Trust Lands October 30, 2020 Maria Volkova The Bureau of Indian Affairs is requiring mortgage amounts to be redacted, creating a problem for government mortgage lending.Read More
Top FHA Lender Freedom Likely to Stay Private October 16, 2020 Paul Muolo Public ownership isn’t for everyone. Just ask FHA-direct giant Freedom Mortgage of Mt. Laurel, NJ. Read More
Wells Fargo Makes Big Bet on Ginnie EBOs. Others? October 16, 2020 Paul Muolo Thanks to high forbearance readings and escalating delinquencies, Wells Fargo is once again playing the Ginnie buyout game. It’s not alone.Read More
HUD OIG Says Carson Didn’t Use Agency to Help Son October 16, 2020 Maria Volkova According to HUD’s internal watchdog, Benjamin Carson Jr.’s emails and business records show that he did not secure a direct financial benefit in his involvement with a HUD listening tour.Read More
Servicers’ Forbearance Information Still Misleading October 16, 2020 Maria Volkova Most servicers have updated relief-related information on their websites since HUD OIG’s April report. However, problems still persist. Read More
Banks Pledge to Invest into Minority Homeownership October 16, 2020 Maria Volkova JPMorgan Chase, Citi and Bank of America have committed funds to spur economic opportunities in underserved communities.Read More
Waters Urges HUD to Rescind Final Disparate-Impact Rule October 2, 2020 Maria Volkova The final version of the disparate-impact rule shifts the burden of proof to show housing discrimination from lenders onto borrowers. Read More
Genworth-Oceanwide Merger Deadline Moves Once Again October 2, 2020 Maria Volkova The merger between Genworth and China Oceanwide Holding Group has been extended for the 16th time. The new cutoff: Nov. 30.Read More
MBA, NAR Urge Congress Not to Raise Fees on IRRRLs October 2, 2020 Maria Volkova Recently proposed legislation would raise the IRRRL fee from 50 basis points to 85 bps. Lenders are not happy.Read More