Certain SFR operators have been criticized for gobbling up thousands of properties for corporate ownership, thus removing these units from the inventory of homes available for sale.
CFPB Announces HMDA File Format Verification Tool and New 2017 Dataset. The CFPB earlier this month released the 2018 File Format Verification Tool (FFVT) which tests whether HMDA reporters’ files meet certain formatting requirements needed to submit data to the HMDA platform. Specifically, the FFVT will test whether the file is pipe-delimited, has the proper number of data fields, and has data fields formatting as integers, where necessary ... [Includes three briefs]
The state of Washington recently tightened its rules for mortgage servicers, another indicator that state regulators may pick up the slack from a perceived pullback by federal regulators regarding mortgage servicing. The Washington Department of Financial Institutions earlier this month amended its regulations under the Consumer Loan Act, requiring servicers to inform the DFI if the company’s capital falls below levels required by Fannie Mae or Freddie Mac, or if their ...
Experts disagree on whether the CFPB would pull back in the enforcement of mortgage servicing. Jaret Seiberg, a financial services and housing policy analyst for Cowen Washington Research Group, said there is a huge shift in regulating financial services since Republicans gained control of the White House. Loan servicers, particularly, could see “material differences” in the way federal agencies treat their businesses. “We have seen far less enforcement ...
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