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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.
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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.
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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
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