“If we had a major economic downturn, I don’t know what kind of havoc we would have right now, because there’s no stability,” said Ted Tozer, a former president of Ginnie Mae.

VA issued a temporary variance to allow borrowers to pay buyer-broker charges so they could compete in the real estate market.

Fairway Independent Mortgage denied the allegations and said it determined the settlement was “the most appropriate solution.”

Treasury wants the banks to double their contributions to affordable housing programs and to use their excess retained earnings to support more housing development.

FHA issued an extensive FAQ document late last week, addressing questions about guidance with an Oct. 31 implementation date for reconsiderations of value.

Kristen Clarke, assistant attorney general in the DOJ’s civil rights division, said the settlement shows that the DOJ intends to hold “all types of lenders accountable for their role in modern-day redlining.”

No indication yet from federal regulators on when a planned re-proposal of capital requirements for large banks will be issued.

“Without an increase in NMLS processing fees, CSBS staff projected losses of nearly $133 million over the next decade,” CSBS said in a report in response to feedback received on the proposal.

In early September, the FCC released a draft report and order that would establish new safeguards against spoof calls and texts.

The CFPB is looking into whether it’s necessary to recertify a borrower’s ability to repay a rate-term refi as the borrower will be receiving a lower interest rate and mortgage payment and has already proven through a standard mortgage their ability to pay their loan.