DFPI Commissioner Manuel Alvarez: “We take our expanded responsibility very seriously and are moving swiftly to ensure debt collectors do not violate the rights of California consumers.”
The acting director of the CFPB directed the federal agency to focus on compliance issues involving consumers suffering hardship stemming from the coronavirus, including actions by mortgage servicers.
The FHFA wants to place a volume cap on mortgages sold through the Fannie/Freddie cash window. An effort to boost lender securitizations or something else?
The concern centers on a clause that states beginning January 2022, the FHFA will cap the amount of mortgages any lender can deliver to the cash window at $1.5 billion over any four-quarter period.
The FHFA IG highlighted the agency’s failure to ensure the boards of the two GSEs are notified after its Division of Enterprise Regulation has identified serious deficiencies in management. The OIG said this has been the state of affairs since at least 2016.
The government MI is waiving a section in the handbook that reads, “Non-US citizens without lawful residency in the U.S. are not eligible for FHA-insured mortgages.”
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