Cart

Inside the CFPB

January 8, 2007

View Archived Issues

Exclusion of Hybrids from NTM Guide Sought

The mortgage industry is fighting efforts to include hybrid adjustable-rate mortgages and potentially other ARM products within the scope of recently issued federal and state guidelines on nontraditional mortgage products. Lenders have suddenly found their... Read More

States Vow Formal Action for Guide Violations

State-regulated mortgage providers could be subject to state enforcement action if they ignore recommendations in a recently issued state guidance on nontraditional mortgage products, according to the Conference of State Bank Supervisors. In a recent posting in... Read More

Lenders Get Peek of Upcoming FCRA Examination Procedures

Compliance officers at federally supervised institutions may be able to prepare for upcoming regulatory reviews of their Fair Credit Reporting Act compliance efforts with the recent release of revised interagency examination procedures. The changes were mostly on exam... Read More

UDAP Insights Provided to Help Banks Design Compliance Plan

Financial institutions will benefit from a government analysis of how federal examiners identify and address unfair or deceptive practices in subprime lending and other business areas. The analysis can help financial institutions in evaluating their... Read More

Agencies Propose Alternative Rules for Non-Basel II Lenders

U.S. banks not subject to the more risk-sensitive Basel II international risk-based capital standards have some tough business decisions to make in the wake of a recent federal proposal to allow those institutions to choose between two risk-based capital rules... Read More

Revised CHARM Booklet Explains Perils of Nontraditional Mortgages

Providers of nontraditional mortgage products may now provide appropriate disclosures to borrowers about interest-only loans, reduced documentation, and option ARMs with the issuance of an updated Consumer Handbook on ARMs. The CHARM booklet is a document... Read More

Lenders Forced to Comply with Fannie’s Revised IO Guidelines

If lenders had any qualms about complying with recently issued federal and state guidelines on nontraditional mortgages, Fannie Mae has put those to rest, at least partially. On orders from its primary regulator, the Office of Federal Housing Enterprise Oversight... Read More

State Roundup

Massachusetts: Boston Mayor Thomas Menino intends to propose state legislation this month to stem the rising home foreclosure rates in... Ohio: The state Supreme Court has invalidated the City of Toledo’s anti-predatory lending ordinance, widening the door for... Read More

Federal Roundup

Federal Trade Commission: Credit Report Fee. The maximum fee that a credit reporting agency can charge for a credit... Federal Reserve Board: Regulation C Exemption. The Fed has increased the asset-size exemption from reporting... Read More

Worth Nothing

Fannie Says No to HOEPA Loans: It’s now official: Fannie Mae will not purchase mortgages that are subject to... 2007 Brings New Privacy Laws: Mortgage loan providers face new consumer privacy laws that are... Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results