Final PMIERS Rule Expected in 1Q15. The Federal Housing Finance Agency has revised its timeline for publishing a final version of the Private Mortgage Insurance Eligibility Requirements, which Fannie Mae and Freddie Mac proposed in July at the direction of the FHFA. The PMIERS will establish capital and other requirements for private mortgage insurers. In a statement, industry trade group U.S. Mortgage Insurers said it has received word from the agency that the final PMIERS would not be published until at least late in the first quarter of 2015. The FHFA initially indicated that a final rule would be issued by yearend 2014. The USMI reiterated its support for an updated PMIERS. Mortgage Executives Concerned About G-Fee Increase. A survey of mortgage executives at this year’s Mortgage Bankers Association annual conference found 53 percent saying that ...

The Federal Housing Finance Agency is continuing to work on new standards that will dictate not only how much capital nonbank servicers must retain, but how much in liquidity reserves they will need, according to industry analysts and advisors familiar with the topic. Moreover, these officials believe that some type of unveiling of those standards – originally planned for December – has been pushed into the first quarter of 2015. “One problem [the] FHFA is facing is...

The MBA’s legal counsel tried to begin by focusing on the dividing line between interpretative rules and legislative rules, but soon found herself having to defend the trade group’s support for the DOL’s original 2006 position.

The original CO established an on-site compliance monitor at Ocwen, one of the nation’s largest servicers of delinquent loans.

The Philly Fed argues that a mortgage "strip-down" could make homeowners better off and not harm lenders.

This week, the U.S. Supreme Court heard oral arguments in two consolidated cases on whether the overtime provisions in the Fair Labor Standards Act apply to mortgage loan officers – and the narrower question of whether federal agencies have the authority to make regulatory changes without using the “notice and comment” rulemaking process. Both cases involve the Mortgage Bankers Association as the respondent. The U.S. Department of Labor argued...

State-regulated lenders and servicers will be required to report new information on servicing and originations to regulators beginning in the first quarter of 2015. Lenders weren’t able to win many concessions from the Conference of State Bank Supervisors, which proposed reporting changes for the Nationwide Mortgage Licensing System & Registry’s Mortgage Call Reports in October. The State Regulatory Registry, a subsidiary of the CSBS that operates the NMLS on behalf of state regulators, positioned the reporting requirements as part of an effort to reduce regulatory burden for lenders. “A goal of the MCR is...

The multi-agency final rule implementing the Dodd-Frank Act appraisal-related amendments to the Financial Institutions Reform, Recovery, and Enforcement Act is expected sometime this month, according to the Consumer Financial Protection Bureau’s semi-annual regulatory agenda. The amendments made by Dodd-Frank to FIRREA require new minimum requirements to be applied by states in the registration, reporting and supervision of appraisal management companies (AMCs). They further require implementing regulations for new quality control standards for automated valuation models (AVMs) “designed to ensure a high level of confidence in the estimates produced by the valuation models.” The pending regulations also are...

The Treasury Department noted that QRM standards do not include requirements for loan-to-value ratios.

Some 61 percent of mortgage executives believe lenders are overly restrictive with underwriting standards.