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Inside the CFPB
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Carson: HUD is Examining Policies that Go Beyond FHA’s Core Mission

June 28, 2018
George Brooks
In April 2018, more than 24 percent of FHA homebuyers left the closing the table with debt-to-income ratios at or above 50 percent, up from 20 percent from the same period last year.
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Freddie Extends Appraisal Waivers to Condo Purchases and Refis

June 28, 2018
Carisa Chappell
Now, eligible condo loan borrowers can take advantage of the appraisal waiver if ACE deems it unnecessary.
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Short Takes: Ralph Nader Has Some Unkind (And That’s Putting it Nicely) Words for CFPB’s Mulvaney / Mulvaney Viewed Favorably Elsewhere / Nader and the GSEs (Remember that One?) / More M&A for Union Home / A New Hire for Mello

June 28, 2018
Paul Muolo
A few years back, Nader went to bat for Fannie Mae/Freddie Mac shareholders suing the federal government over the GSE net worth profit sweep...
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HUD Secretary Carson Tells Lawmakers Final Condo Rules Should be Out in September; Issues Too Complex, He Says

June 28, 2018
The Department of Housing and Urban Development will issue, in September, final rules to ease FHA requirements for financing condominium purchases and refinancings.
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Court Ruling Turned Back RESPA Calendar to Agency’s Controversial Guidance on Marketing Services Agreements

June 28, 2018
Federal courts have thrown out the Consumer Financial Protection Bureau’s aggressive interpretation of anti-kickback provisions in the Real Estate Settlement Procedures Act. But plenty of questions remain about how new management of the agency will handle the issue or the fate of existing guidance on marketing service agreements, industry experts said this week.
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CFPB Expected to Revisit Views on Marketing Services Agreements

June 27, 2018
Yemeng Yang
“There is potential for them to issue more guidance, and we hope it to be the right guidance that’s consistent with 40 years of the RESPA law,” said Kenneth Trepeta…
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A ‘Scratch and Dent’ Market Develops for VA ‘Orphan’ Loans

June 27, 2018
Paul Muolo
Some warehouse lenders are nervous about the VA ‘orphan loan’ mess as well, sources told Inside Mortgage Finance…
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A Decline in FHLB Advances. Big Drops for JPM and Wells

June 27, 2018
Carisa Chappell
The figures show that compared to the first quarter of 2017, both JPM and Wells greatly reduced their FHLB borrowings…
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Short Takes: HUD Chief Carson Gives a Target Date for FHA Condo Rule / Different Agencies, Different Criteria / No Changes in Ratings on Fannie and Freddie / Angel Oak Promotes Jumbo Loan / FHFA IG Official Steps Down

June 27, 2018
George Brooks, Carisa Chappell, and Paul Muolo
FHA may soon have a new condo lending rule, but one lobbyist called it "four years too late..."
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CFPB Closes RESPA Violation Case Against Zillow

June 26, 2018
Paul Muolo
In the spring of 2017, it came to light the bureau would take legal action against Zillow...
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