Capital Rule Comment Period Extended October 23, 2023 Brandon Ivey Trade groups called on regulators to reconsider the proposal altogether...Read More
DOJ, Ameris Bank Settle Redlining Allegations October 20, 2023 Sam Manas The settlement requires Ameris to issue $7.5 million in mortgage subsidies in majority-Black and Hispanic neighborhoods.Read More
Short Takes: More to Come From DOJ / PrimeLending Posts Loss / AGMIT Close to Acquiring WAMC October 20, 2023 Brandon Ivey The DOJ has more than 24 investigations into redlining in progress.Read More
Compliance Still a Concern With LOs Working Remotely October 19, 2023 Sam Manas Standards for remote work by loan originators vary by state.Read More
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