Former MBA Chief Dave Stevens on the higher conforming loan limits: “For an industry led mostly by conservatives, this dependence on a socialized financial system is really ironic.”
Stakeholders don’t anticipate the FHFA, with a new director nominated by President Trump, to move immediately to reduce the current benchmark loan limit...
The CFPB updated the small entity compliance guides for two mortgage-related rules to reflect the changes in the exemption for loan originators working for manufactured-home retailers.
Senate Majority Leader Mitch McConnell, R-KY, has filed a motion that could bring Kathy Kraninger, the administration’s choice to head the CFPB, up for a vote before the full Senate.
Democrats captured a majority of state attorney general seats in elections earlier this month, which will likely increase state-level litigation and multistate enforcement activity, said attorneys.
The implementation of the qualified-mortgage standard has reduced the incidence of lending to consumers with high debt-to-income ratios among nonconforming mortgage applications, and significantly increased the cost of credit, according to the Federal Reserve.
The Community Mortgage Lenders of America has asked the CFPB to exempt smaller independent mortgage bankers from examinations or audits. The CFPB currently has active examinations for IMBs.
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