Lender trade associations have urged the Federal Reserve to limit its use of rulemaking authority under the Home Ownership and Equity Protection Act to the subprime market, even as consumer advocates argued for broader HOEPA rules and more comprehensive...
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Mounting concerns about mortgage credit availability are stoking hopes that legislative reform of the federal mortgage insurance program will finally pass in this Congress. Industry participants say there is now greater interest in, and support for, an...
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Federally regulated banks, thrifts and credit unions have until Oct. 14 to comment on two proposed disclosure formats designed to inform consumers about the risks and benefits of certain subprime adjustable-rate mortgage products. Institutions are not required...
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The Mortgage Bankers Association is weighing plans of two Democratic presidential candidates to address rising foreclosures and other current mortgage market issues. Earlier this month, Sens. Chris Dodd, CT, and Hillary Clinton, NY, announced their strategies to...
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Despite evidence that seller-funded downpayment assistance has been abused, eliminating such programs is not the answer, according to the Mortgage Bankers Association. While agreeing on the risks posed by seller-funded DAPs to homebuyers and the FHA Mutual...
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House Financial Services Committee Chairman Barney Frank, D-MA, is asking mortgage industry stakeholders to comment on a legislative framework for an anti-predatory lending bill he and two other Democrats plan to introduce in the fall. Frank’s legislative staff...
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A recent ruling by the U.S. Court of Appeals for the 2nd Circuit has rekindled conflict among federal appellate courts over their view of illegal markups – this time with a different twist. In an Aug. 8 decision in Cohen v. JPMorgan Chase, the court for the first time...
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North Carolina: Gov. Mike Easley signed three new bills into law Aug. 16... New York: The NY State Banking Department has notified supervised mortgage... Texas: Legislation was enacted allowing a registered financial services company to...
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Office of Thrift Supervision: Updated Exam Handbook. The Office of Thrift Supervision has revised... Department of Veterans Affairs:Appraisal Reports. The VA has adopted a new policy for appraisal reports... Federal Financial Institutions Examination Council:Community Development Lending. The dollar volume of loans...
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Lotstein Buckman’s iComply, a compliance database service... The USFN (U.S. Financial Network), a professional network of... The Consumer Bankers Association will have its annual... The National Real Estate Development Center will host... Wolters Kluwer Financial Services/PCi is having... The Mortgage Industry Emerging Markets & Diversity Conference will... The Consumer Bankers Association’s Fair Lending Conference will...
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