Regulations

Browse articles from all of our Newsletters related to Regulations.

February 15, 2019 - IMFnews

FHFA IG Report: Director Watt Violated Ethics Rules. Trump Had Report in Late November but Didn’t Act

The report, dated Nov. 29, 2018, was posted to the IG’s website Friday, Feb. 15.


February 15, 2019 - Inside FHA/VA Lending

Wells Fargo, Sierra Agree to Resolve FHA-Related Claims

The U.S. District Court for the Northern District of California has approved a class-action settlement between borrowers and a large bank to resolve allegations of illegal and unfair collection of post-payment interest on FHA-insured mortgages.


February 15, 2019 - Inside FHA/VA Lending

SIFMA Proposes Changes to VA Cash-Out Interim Rule

A Wall Street lobbying group has urged the Department of Veteran Affairs to change its cash-out refinance interim final rule, calling par-ticular attention to the net tangible benefit provi-sion.


February 15, 2019 - Inside FHA/VA Lending

Industry Seeks Delay of VA Cash-Out Interim Final Rule

Industry representatives are urging the Department of Veterans Affairs to delay an interim final rule on VA cash-out refinance loans for fear that lenders may stop offering the product.


February 15, 2019 - IMFnews

What We’re Hearing: Calabria, a Sure Bet? / Warm Thoughts About Fannie-Freddie Loan Limits / Retaining More Capital / Congress? / Conservatorship Purgatory / Looks Like Radian is in Play / A Sale Dragging On and On and On: Genworth / Industry Vet Rudy Orman Lands

On the doorstep: The recap and release of Fannie and Freddie?


February 14, 2019 - Inside Mortgage Finance

Industry Split on Proposed Higher Appraisal Threshold

The industry is split over a federal regulatory proposal to waive full appraisals for a larger share of non-agency residential mortgages.


February 14, 2019 - IMFnews

Short Takes: Leaving Behind His Personal Views Regarding Fannie and Freddie / Reporting Results on the Very Same Day, a Rarity / If Only They Could’ve Kept Their Earnings / CHLA Backs Calabria

Fannie and Freddie rarely report quarterly results on the same day, but they did so this morning...


February 14, 2019 - IMFnews

Lower Earnings for Fannie and Freddie, 4Q18 Dividend Payment On Track (For Now)

It’s rare but Fannie and Freddie reported results on the very same day…


February 13, 2019 - IMFnews

FHFA Nominee Mark Calabria Promises to Leave His Personal GSE Views at the Door

The nominee promises not to impose his personal views on Fannie and Freddie...


February 13, 2019 - IMFnews

Short Takes: A Nice Month for Pershing Square / No Mention of the GSEs / A Mortgage-Related M&A Deal Drags On / Delayed by the Chinese New Year / A New MBS From Deephaven / Pavaso Hires Mortgage Tech Vet Tim Anderson

After two-plus years of waiting, the Genworth deal has yet to close...


February 13, 2019 - IMFnews

Ginnie Mae Approved Only 8 New Issuers in 2018

Nonbanks comprise 61% of approved servicers of Ginnie’s $2.04 trillion portfolio…


February 12, 2019 - IMFnews

Short Takes: GSE Junior Preferred Shareholders Could Get Paid / Wedbush Tells Investors to Take the Cash / New Rez Sees a Buying Opportunity in MSRs / CFPB to America: Save Some of That Tax Return!

Bove sees some type of compensation going to the preferred shareholders of Fannie and Freddie...


February 12, 2019 - IMFnews

Congress Zeroes In on Credit Bureaus in Legislative Effort

Since the public reveal of the Equifax data breach in 2017, complaints regarding credit reports have outstripped consumer gripes…


February 11, 2019 - Inside the CFPB

Other News in Brief

CFPB Updates Reference Chart for 2019 HMDA Data Collection; CFPB Sued for Withholding Records on its Decision to Stop Military Lending Act Supervision; CFPB Clarifies Participation in ‘Disclosure Sandbox.’


February 11, 2019 - Inside the CFPB

CFPB Seeks Comments on Credit Card Market

The CFPB is soliciting input from stakeholders regarding their experiences in the credit card market and on the overall health of the sector.


February 11, 2019 - Inside the CFPB

CFPB Targets Payday Lenders; Waters’ Inquiry

The CFPB has entered into a settlement with a group of offshore payday lenders who allegedly engaged in deceptive and unfair marketing and billing activities.


February 11, 2019 - Inside the CFPB

States to Focus on Tackling Redlining, UDAAP Issues

State authorities will focus their enforcement actions this year on tackling redlining and unfair, deceptive and abusive acts or practices in order to fill the enforcement gap created at the federal level, industry attorneys predicted.


February 11, 2019 - Inside the CFPB

CFPB Urged to Oppose Higher Appraisal Threshold

Consumer groups have called on the CFPB to oppose a regulatory proposal which will significantly expand the number of non-agency mortgages that will not need a full appraisal.


February 11, 2019 - Inside the CFPB

IG Critical of CFPB’s Supervision Process

The Office of Inspector General has found that the CFPB did a poor job of ensuring that lenders who violate federal laws address the problems.


February 11, 2019 - Inside the CFPB

Mortgage Servicing Most Complained About Category

Mortgage complaints filed with the CFPB declined over the past two years, and the most-criticized category was mortgage servicing, according to a new snapshot.


February 11, 2019 - Inside the CFPB

TRID Informal Guidance Addresses Waiting Period

The CFPB recently provided informal guidance in the form of frequently asked questions, addressing issues related to the integrated mortgage disclosure rule.


February 11, 2019 - Inside the CFPB

Credit Bureau Legislative Reform Gains Traction

Congressional lawmakers are placing credit bureau reform in the spotlight with a hearing scheduled before the House Financial Services Committee this month.


February 11, 2019 - Inside the CFPB

Payday Proposal Gets Rid of Underwriting Requirement

The CFPB may scrap the underwriting requirements of its 2017 payday lending rule, according to a proposal released last week. In the meantime, the rule’s compliance date has been pushed back to Nov. 19, 2020, from Aug. 19, 2019.


February 11, 2019 - IMFnews

Short Takes: Exiting a GSE Investment / The Fed Likely Will Greenlight the BB&T-SunTrust Merger / No. 9 / Please, Just Don’t Pick a Name Like Mr. Cooper / How Much Lower Can Ditech Go? / CoesterVMS?

The big unknown about the merger: Once completed, what name will the new bank and mortgage company take?


February 11, 2019 - IMFnews

A Victory for Fannie/Freddie Shareholders? Investors Unite Revels in Collins v. Mnuchin Ruling

You could almost hear the whoops coming from shareholders around the country...


February 11, 2019 - IMFnews

It’s Official: Ditech Readies Second Trip Into Bankruptcy, Seeks to Eliminate $800M of Debt

Ditech revealed that "any and all bids" for the company or its assets will be evaluated...


February 8, 2019 - IMFnews

What We’re Hearing: Salivating at the Prospect of a Fannie-Freddie Stock Offering? / Mulvaney Again / Waiting in the Wings for Treasury’s GSE Assignment? / What Could Stand in the Way? / MI Roundup / Wells Fargo, the MBS King / A New Legislative Hire for MBA: Tallman Johnson

But one thing is certain: the Trump White House is not monkeying around with GSE reform...


February 8, 2019 - IMFnews

Bill Introduced to Install an Independent IG at the CFPB

Currently, the bureau shares an inspector general with the Federal Reserve...


February 8, 2019 - IMFnews

Calabria’s FHFA Nomination Hearing Set for Feb. 14

Calabria has firm support among Republicans on the SBC and the backing of Senate Minority Leader Mitch McConnell...


February 8, 2019 - IMFnews

MBA Issues Primer for Smooth LIBOR Transition

MBA wants lenders to act early on issues identified in the primer to ensure transition to a new benchmark rate is as seamless as possible.


February 7, 2019 - IMFnews

Short Takes: Hoping and Praying for the Right GSE Outcome / Contemplating a Settlement by the Government / Setting the Table for a Merger / #9 Mortgage Dream: SunTrust-BB&T Deal / IMA’s Bulk MSR Deal

Open hostility toward the government's GSE case?


February 7, 2019 - Inside Mortgage Finance

FDIC Final Rule Allows for Private Flood Insurance

Federally regulated financial institutions must accept private flood insurance on loans secured by properties in special flood hazard areas, according to a partially approved inter-agency final rule.


February 7, 2019 - Inside Mortgage Finance

New York Regulator Rejects Fidelity-Stewart Title Merger

The New York Department of Financial Services last week rejected Fidelity National Financial’s application to acquire control of Stewart Information Services’ NY-based title insurance company.


February 7, 2019 - IMFnews

BlackRock’s Stake in Ocwen Financial: 6.3%. Meaning?

Ocwen would like to buy mortgage servicing rights once again, but…


February 6, 2019 - IMFnews

Short Takes: About That Net Worth Profit Sweep… / A Permanent Ginnie President? / LOs Tell the Fed: Loan Demand is Weaker / A Lack of Experienced Underwriters for Non-QMs / A New Loan Officer at Castle & Cooke

Unless a change is made to the terms of their “bailout,” Fannie and Freddie will upstream most of what they earn to Treasury by the end of March...


February 6, 2019 - IMFnews

Civil Rights Groups Up in Arms Over Crapo’s GSE Reform Plan

CRL and other groups noted: “To date, Congress has exercised extreme caution in repairing the housing finance system…”


February 6, 2019 - IMFnews

Mnuchin: Treasury Prepared to Go It Alone on GSE Reform

Treasury’s GSE plan is being shaped by Senior Treasury Counselor Craig Phillips, who cut his teeth on Wall Street as an MBS trader…


February 5, 2019 - IMFnews

Mnuchin: Treasury Prepared to Go It Alone on GSE Reform

One contemporary of Phillips, who claims to have knowledge of what he’s working on, said the plan is “very well scripted” at this point...


February 5, 2019 - IMFnews

Short Takes: Deephaven Interest / Don’t Worry About the ‘GSE Patch’ / Simmering Down a Bit: GSE Common / Carl Icahn? / Job Openings at Quicken Loans / Caliber Hires Stearns Executive Hecht / A Promotion for Riskey

A mortgage slowdown? Not everywhere: Quicken Loans says it has more than 700 job openings…


February 5, 2019 - IMFnews

NAR Calls for Release of FHA Condo Rules

NAR believes worthy borrowers for too long have been unable to purchase the home of their choice because of FHA’s restrictive condominium rules...


February 4, 2019 - IMFnews

Short Takes: Home Point Takes a Dive into the Non-QM Market / #28 Overall / Redwood Selling Additional Shares / Relationships / Not So Fast on that Title Deal

Another 'A' paper lender is jumping into the non-QM pool.: Home Point...


February 4, 2019 - IMFnews

Fairholme Tells its Shareholders to Hang in There on Fannie and Freddie

Fairholme's Bruce Berkowitz suggests the best is yet to come...


February 1, 2019 - Inside FHA/VA Lending

Around the Industry

HUD receives share in settlement under False Claim Act; Implementation date for EAD system postponed; Issuance of HMBS declines year over year.


February 1, 2019 - Inside FHA/VA Lending

NAR Calls for Release of FHA Condominium Rules

The real estate industry is calling for the immediate release of the long-overdue final FHA condominium rules to enable more projects to qualify for FHA-insured financing.


February 1, 2019 - Inside Nonconforming Markets

Non-Agency Market Could See Gains from GSE Reform

Activity in the non-agency mortgage market is likely to get a boost from any reforms of the government-sponsored enterprises undertaken by the Trump administration.


February 1, 2019 - IMFnews

What We’re Hearing: Craig Phillips, the ‘Ax’ / What We Talk About When We Talk About GSE Reform / Next Up: Meetings on Capitol Hill / Time for Treasury to Hire an Investment Banker? / Keeping an Eye on loanDepot / More VC Money for Better Mortgage

And some point, it stands to reason that the U.S. Treasury Department would hire an investment banking firm with a specialty in Washington matters to assist in a recap and release plan…


February 1, 2019 - IMFnews

Sen. Crapo Releases GSE Reform Outline. Is it DOA?

Under the Crapo plan, the multifamily business of Fannie and Freddie would be sold to the highest bidder...


February 1, 2019 - IMFnews

HFSC Freshmen Aim to Be Players on Housing, Fair Lending Issues

Keep an eye on Rep. Katie Porter, the freshman Congressman from California…


February 1, 2019 - Inside MBS & ABS

Mortgage Grapevine

Fannie changes bylaws, Phillips staying put...


February 1, 2019 - Inside MBS & ABS

Final Word on 20 Percent Pass-Through Deduction

The Internal Revenue Service has issued final regulations clarifying whether residential lenders, including nonbanks, are eligible for the 20 percent pass-through deduction under Section 199A of the Tax Cuts and Jobs Act of 2017.


Poll

Do mortgage lenders really need a new credit-scoring model or is the current FICO system adequate?

It’s fine. Stick with what works.

53%

Time for a change. Borrowers are different today.

35%

Undecided, still assessing the situation.

12%