Proposed updates to rules governing VA interest rate reduction refinance loans drew asks from VA lenders and trade groups around loosening eligibility requirements for borrowers to maintain access to the product. (Includes data chart.)
If the Second Circuit reverses a district court ruling and holds that a syndicated term loan is a security, the implications would be immense for banks, CLOs and other parties.
The Federal Housing Finance Agency, the Department of Housing and Urban Development and the Consumer Financial Protection Bureau have a number of mortgage-related rulemakings in the works, according to their policy agendas.
The CFPB’s latest regulatory agenda includes some pending priorities and some new ones. Two of the new items would require nonbanks to register with the bureau.
The New York Foreclosure Abuse Prevention Act reverses a court ruling that said the voluntary discontinuance of a foreclosure revoked the acceleration of a mortgage loan and its six-year statute of limitations.
For lenders trying to make bank statement loans that qualify as QMs, a little-noticed addition to a Regulation Z commentary could create uncertainty around whether they’ve properly verified the borrower’s income.