Anti-predatory lending legislation is headed to the House floor for a vote this week, even as the mortgage industry ratcheted up its efforts to stop or modify what it believes is a bad bill. The House is expected to take up H.R. 3915, the Mortgage Reform and...
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House Judiciary Committee members who are at odds over mortgage cramdown legislation have until Nov. 14 to reach a compromise after another delay of the bill’s markup last week. A tentative bipartisan agreement fell apart after Democrats included in the manager’s...
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Lenders should review their underwriting, pricing, and exception policies thoroughly to prepare for more vigorous fair lending scrutiny and enforcement in the coming months. Federal banking regulators and compliance experts said they expect to see higher...
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The Office of Management and Budget is reviewing a much-anticipated federal proposed rule that aims to make the mortgage settlement process more understandable to consumers and enhance borrower protections against loan steering. Submitted by the Department of...
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A non-approved mortgage broker may not perform origination services in connection with a loan insured by the Federal Housing Administration, but may be compensated for assisting a borrower in obtaining an FHA loan, according to the Department of Housing and...
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The Federal Reserve Board has ended years of lender uncertainty and speculation with the adoption of final rules regarding electronic disclosures to consumers. The Fed’s adoption of revisions to five federal consumer protection and fair lending regulations on Nov. 2...
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The fallout from the subprime market meltdown continues to exert pressure on mortgage lenders, in the form of new enforcement actions by attorneys general in New York and Ohio. An expanding probe of mortgage appraisal fraud in New York State has spread to Fannie...
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CSBS/AARMR. Forty state agencies have committed to participate in the new Nationwide Mortgage Licensing System, according to the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators. Scheduled to launch...
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Department of Housing and Urban Development: Downpayment Assistance Rule. The U.S. District Court for... Office of Thrift Supervision:Reducing Regulatory Burden. The OTS has sent a report to Congress... FRB/OCC/FDIC/OTS/NCUA/FTC: ID Theft Red Flags. Federal financial institutions regulators and...
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The Washington, DC, law firm of Lotstein Buckman is no more. Principal Robert Lotstein.... In an effort to remove the blemish on the industry and distance itself from... The American Conference Institute’s Responsible Lending Conference will be held at...
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