Possibly dozens of VA lenders have been handed subpoenas from the federal government tied to VA delinquencies and possibly loan churning. Is this a fishing expedition or something more? Needless to say, lenders are worried.
The bureau has proposed raising the coverage threshold for smaller lenders under the Home Mortgage Disclosure Act. Separately, it has also sought input on whether to make changes to the required data fields in a separate notice.
Faced with a lawsuit from a tribal housing-finance agency, HUD has delayed implementation of a new policy regarding downpayment assistance programs for at least 90 days.
HUD has agreed to delay its controversial downpayment assistance rule by 90 days in response to a lawsuit brought by a Utah-based tribal housing finance agency.
Are nonbanks really facing a coming liquidity crisis or is it just fear-mongering? It may depend on who you work for, but a recent op-ed piece by Caliber Home Loans CEO Sanjiv Das has kept the debate alive.
Quicken Loans last week allowed short-term rental income from Vrbo, a vacation rental platform, to be used to qualify for a refinance. Some other lenders are exploring similar approaches.
JPMorgan is reviewing its strategy in the mortgage industry. The reason: owning real-estate loans has become hugely unprofitable for banks due to onerous and unnecessary requirements. HomeStreet Bank said it has found buyers for its MSR and home-loan centers.
California lawmakers are considering creating a state-level watchdog agency akin to the Consumer Financial Protection Bureau to enhance enforcement of consumer laws and fill the void left by the federal agency.
Joseph Otting, acting director of the Federal Housing Finance Agency, set the rumor mills in motion last week when he told an audience at George Mason University Law School that the agency would finish work this summer on final capital rules for Fannie Mae and Freddie Mac.
Several industry participants have criticized the Federal Housing Finance Agency’s proposed rule on the use of future credit scoring models by the government-sponsored enterprises.
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