States Settle Mortgage Payment Fiasco With ACI October 18, 2023 Sam Manas ACI Payments erroneously charged payments on the accounts of 480,000 mortgage holders serviced by Mr. Cooper.Read More
Short Takes: CRA Rule Coming Tuesday / Applications Down / Trends in Non-QM Delinquencies / Closed-End Second Securitization October 18, 2023 Brandon Ivey Banking regulators plan to release a final rule Oct. 24 with revisions to standards under the Community Reinvestment Act.Read More
FHFA Yields to Industry Criticism on Buyback Requests October 17, 2023 Dennis Hollier FHFA will direct the enterprises to treat loans with COVID-19 forbearance like those impacted by a natural disaster. Fannie and Freddie will also do a better job explaining buyback requirements.Read More
NASDAQ Tells Fintech Better.com It’s Not in Compliance With Listing Requirements October 16, 2023 Paul Muolo Better’s shares have been trading below $1.00 a unit for several weeks now.Read More
Short Takes: CFPB and DOJ on Immigration Status / New HEI Securitization / Home Prices Up in Third Quarter October 13, 2023 Brandon Ivey and James Dohnert The CFPB and DOJ issued a statement on denials of credit based on an applicant's immigration status.Read More
CFPB Sues Freedom for HMDA Reporting Issues October 11, 2023 Brandon Ivey The CFPB alleges that Freedom didn't sufficiently address HMDA reporting issues following a 2019 consent order.Read More
Short Takes: ARM Applications Jump / CFPB Targets Fees at Big Banks / Cenlar Makes QC Hire October 11, 2023 Brandon Ivey Applications for ARMs increased by 15% on a weekly basis.Read More
Servicers Support FHA’s Face-to-Face Proposed Changes October 10, 2023 Monica Hogan The comment period closed last week on a July proposal from HUD.Read More
Short Takes: Regulators Looking for Specifics on Basel / Lenders Slightly Loosen Underwriting Standards / Non-QM Moves October 10, 2023 Brandon Ivey and James Dohnert In a speech Monday, Michael Barr largely defended the Basel proposal while also encouraging feedback to help with potential revisions.Read More
FHFA Plans Changes for Federal Home Loan Banks October 6, 2023 Brandon Ivey After FHFA finishes a review of the Federal Home Loan Bank system, the agency will issue at least one proposed rule with reforms.Read More