Don’t believe press accounts that the Consumer Financial Protection Bureau’s integrated disclosure rule isn’t causing headaches throughout the mortgage lending industry, top industry representatives said this week. The good news for lenders is: It’s not just your shop that is having problems. Experts detailed the ongoing industry compliance problems with the CFPB’s Truth in Lending Act/Real Estate Settlement Procedures Integrated Disclosure Act rule – the so-called TRID rule – during a webinar this week sponsored by Inside Mortgage Finance. “Surely, the rule is...
The Federal Housing Finance Agency will push Fannie Mae and Freddie Mac to assess front-end risk-sharing strategies in 2016, according to the agency’s game plan for the two government-sponsored enterprises released late this week. At this point, most of the work appears to be exploratory. The FHFA itself will issue a formal “request for input” from the industry, and the GSEs are expected “to conduct an analysis and assessment of front-end credit risk transfer.” The 2016 “scorecard” pushes...
Among other things, the language grants the CFPB greater flexibility to treat a balloon loan as a “qualified mortgage” if it was extended by a community bank or...
The CHLA is renewing its call for Treasury and the FHFA to amend the preferred stock purchase agreements once again, allowing the GSEs to build capital...
Meanwhile, Wells Fargo was the top-ranked ARM lender through three quarters in 2015 with $18.83 billion funded. PHH Mortgage was a somewhat close second...