FHA has proposed revisions to its lender certification requirements and defect taxonomy in a bid to provide lenders and servicers greater certainty in how to meet the agency's compliance standards.
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.
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