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Volume 25 - Number 25

December 8, 2014

AMC Minimum Requirements Final Rule Expected This Month

The CFPBís updated semi-annual regulatory agenda is out, and one of the tidbits it contains is that the joint agency final rule on minimum requirements for appraisal management companies is expected sometime this month. The CFPB is working on the rule with the Federal Housing Finance Agency, the Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corp., and the National Credit Union Administration. The rule is designed to implement the appraisal-related amendments to the Financial Institutions Reform, Recovery, and Enforcement Act mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act. ďWork to issue a final rule to implement the Dodd-Frank Actís AMC amendments to FIRREA is ongoing,Ē said the CFPBís updated agenda. ...

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.


No. It’s still difficult compliance/regulatory-wise.


Maybe. It’s under consideration.


Not now. But things could change as 2018 progresses.