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Rate of Defects in Mortgage Applications Jumped in Q3 Due to Surging Purchases

Due to increasing purchase volume, the rate of critical defects in mortgage applications increased 25% in the third quarter of 2020 compared with the...
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CFPB Delays Compliance Date for General QM Rule

The Consumer Financial Protection Bureau (CFPB) has delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1 to...

Clinton Jones to Assume General Counsel Role at FHFA

The Federal Housing Finance Agency (FHFA) says Clinton Jones has succeeded Alfred Pollard as the agency’s new general counsel. Pollard is retiring from the FHFA...

ACES Quality Management Hires Amanda Phillips as EVP of Compliance

Amanda Phillips has joined ACES Quality Management (ACES) as executive vice president of compliance. Phillips most recently served as of counsel with Ballard Spahr, LLP,...

LoanLogics Launches New Tool to Help Lenders With HMDA Compliance

LoanLogics has launched a new tool that helps mortgage lenders more easily analyze HMDA data for compliance with mortgage industry regulations and quickly identify...

CFPB Launches Complaint Against 1st Alliance Lending

1st Alliance Lending, along with its executives, John Christopher DiIorio, Kevin Robert St. Lawrence, and Socrates Aramburu, are facing a complaint from the CFPB...

CFPB Updates Qualified Mortgage Rule

The Consumer Financial Protection Bureau (CFPB) has finalized two rules that will replace its Qualified Mortgage (QM) rule. The first rule, the General QM Final...

Mr. Cooper in Hot Water with the CFPB

The Consumer Financial Protection Bureau (CFPB) has filed a complaint and proposed a stipulated judgment and order against Nationstar Mortgage LLC, which does business...

CFPB Issues Final Rule Extending the GSE Patch

The Consumer Financial Protection Bureau (CFPB) has issued a final rule to extend the government-sponsored enterprise (GSE) “patch” until the mandatory compliance date of...

CSBS Issues Proposed Standards for Nonbank Mortgage Servicers

The Conference of State Bank Supervisors (CSBS) says it is now seeking input on proposed regulatory standards for nonbank mortgage servicers. The objective of the...

CFPB Finds Generally Positive Effects of TRID Integrated Disclosure Rule

The Consumer Financial Protection Bureau (CFPB) has issued a recent assessment of the TRID Integrated Disclosure Rule, finding that the rule has made progress...

New MISMO Standard Aids in Taxpayer First Act Compliance

MISMO says its Taxpayer Consent Language has been approved as a new standard, helping to provide a consistent way for the mortgage industry to...

Debra Chew Tapped to Lead New Federal Housing Finance Agency Office

The Federal Housing Finance Agency (FHFA) says Debra Chew will join the agency as director for the Office of Equal Opportunity and Fairness (OEOF)...

CFPB Issues IFR on Loss Mit Options for Recovering Homeowners

The Consumer Financial Protection Bureau has issued an interim final rule (IFR) that will make it easier for consumers to transition out of financial...

CFPB Relaxes TRID Rule to Help Lenders During Crisis

To help make things easier on both mortgage lenders and borrowers during this time of crisis, the Consumer Financial Protection Bureau (CFPB) is loosening...

CFPB to Assess Effectiveness of TRID Rule

The Consumer Financial Protection Bureau (CFPB) is re-visiting the TILA-RESPA Integrated Disclosures (TRID) rule to assess its effectiveness. The bureau is requesting public comment on...

ARMCO Adds New Capabilities to ACES Audit Technology

ACES Risk Management (ARMCO), a provider of enterprise financial risk mitigation solutions, has released new enhancements to its auditing platform, ACES Audit Technology, including...

CFPB Clarifies Rule on Loan Originators with Temporary Authority

The Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule clarifying screening and training requirements for financial institutions which employ loan originators with...

ComplianceEase Offering Pre-Exam Portal to Help Mortgage Lenders Prepare for E-Exams

Beginning this January, ComplianceEase, in cooperation with the Multistate Mortgage Committee (MMC), will offer a complementary pre-exam portal “sandbox” to assist all residential mortgage...

HUD, DOJ Sign MOU For Reviewing False Claims Act Complaints Against FHA Lenders

In an effort to woo banks back to FHA lending, the U.S. Housing and Urban Development (HUD) and U.S. Justice Department (DOJ) have set...