But first, some background: In 2015, NAMIC and the American Insurance Association successfully challenged the Department of Housing and Urban Development’s final rule on the use of disparate impact to prove allegations of unlawful discrimination with regards to homeowners’ insurance.
CFPB's acting director said more attorneys are needed to achieve his goal of "vigorous oversight of all applicable federal laws and the fullest utilization of our legal authorities."
Until the Treasury Department and the Federal Housing Finance Agency amended their preferred stock purchase agreement in January, a $25 billion net worth was the threshold for restarting the net worth sweep of Fannie's quarterly profits.
The two major CU trade associations, the Credit Union National Association and the National Association of Federally Insured Credit Unions, and a number of other state-specific industry groups submitted letters in support of the proposal.
From a market perspective, all those forbearances are cumulative. Fannie Mae and Freddie Mae estimate that one in four of the borrowers who entered into forbearance continued to make their payments...
The new QM standards are set to take effect March 1 with a mandatory compliance date of July 1. Between March 1 and July 1 lenders can use the QM patch or the new standards but after July 1, originators can only use the new standards.