CFPB Fines Eighth VA Lender for Deceptive Ads September 18, 2020 Maria Volkova ClearPath Lending has been slapped with a $625,000 fine for deceptive advertising to veterans, bringing the total amount of fines issued by the CFPB to more than $3 million since July.Read More
HUD Issues Final Rule on Use of Disparate Impact September 18, 2020 Maria Volkova Industry attorneys aren’t quite certain how the government will interpret the use of disparate-impact theory in enforcing fair lending laws.Read More
Proposed QM Rule Could Increase FHA Market Share September 18, 2020 Maria Volkova Consumer advocates have urged the bureau to increase the safe-harbor QM threshold for first liens to a rate spread of 200 basis points. Read More
Millennials Prompting Gains in VA Purchase Market September 18, 2020 Maria Volkova Veteran millennials accounted for 46.0% of VA purchase loans and 23.6% of refi loans so far this fiscal year.Read More
HUD IG Finds Underwriting Issues at 1st Tribal Lending September 18, 2020 1st Tribal was selected for the audit because it’s the largest player among Section 184 program lenders.Read More
CBC Letter Voices Concerns About DPA Program September 4, 2020 Maria Volkova According to industry consultant Brian Chappelle, HUD previously attempted to limit Chenoa's efforts regarding DPA, but came up short.Read More
USDA's Guaranteed Home Loan Volume Up Sharply in 2020 September 4, 2020 Maria Volkova Between October 2019 and July of this year, USDA issued 107,283 guarantees totaling $17.8 billion. Another month remains in the agency's fiscal year.Read More
FHA, VA Extend Eviction and Foreclosure Moratorium September 4, 2020 Maria Volkova The foreclosure moratorium, in place since mid-March, directs servicers to halt all new actions and suspend cases in progress.Read More
Industry Concerned About Proposed Changes to DPA August 21, 2020 Maria Volkova The proposal aims to ensure governmental entities that participate in downpayment assistance programs do not benefit financially.Read More
Industry Urges FHA to Ease Rules for Borrowers with Student Loans August 21, 2020 Maria Volkova The current method for calculating monthly student-loan payments results in artificially inflated debt-to-income ratios.Read More
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