FHFA: CFPB and FHFA Release Additional Data from the National Survey of Mortgage Originations for Public Use

Details Borrower’s Experiences Obtaining a Mortgage The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) today released additional loan-level data for public use collected through the National Survey of Mortgage Originations (NSMO).  The data provide insights into borrowers’ experiences in getting a residential mortgage.   The NSMO is […]

FDIC: FFIEC Issues 2020 Version of Guide to HMDA Reporting: Getting It Right!

Summary: The Federal Financial Institutions Examination Council (FFIEC) has issued the 2020 edition of A Guide to HMDA Reporting Getting It Right! for Home Mortgage Disclosure Act-related data collected in 2020 and reported in 2021. This compliance resource can help financial institutions better understand HMDA requirements, including the data collection and reporting […]

FHFA: Fannie Mae and Freddie Mac Announce Update on LIBOR Transition

The Federal Housing Finance Agency today announced additional steps Fannie Mae and Freddie Mac (the Enterprises) are taking as they transition from the London Interbank Offered Rate (LIBOR), the world’s most widely used interest rate benchmark:  New language will be required for single-family Uniform Adjustable Rate Mortgage (ARM) instruments closed […]

CFPB: U.S. Department of Education and CFPB Sign Memorandum of Understanding to Better Serve Student Loan Borrowers

The Consumer Financial Protection Bureau (Bureau) and the U.S. Department of Education (ED) announced a new coordination agreement in order to better serve student loan borrowers. Under the newly signed Memorandum of Understanding (MOU) the agencies will share complaint information from borrowers and meet quarterly to discuss observations about the […]

FHFA: Updated Minimum Financial Eligibility Requirements for Fannie Mae and Freddie Mac Seller/Servicers Proposed

 The Federal Housing Finance Agency (FHFA) today proposed updated minimum financial eligibility requirements for Fannie Mae and Freddie Mac Seller/Servicers.   The updated minimum financial requirements will further strengthen the Enterprises’ Seller/Servicer requirements and provide transparency and consistency of capital and liquidity required for Seller/Servicers with different business models.  A key […]

Federal Reserve: Do Minorities Pay More for Mortgages?

Read the full paper here. Abstract: We test for racial discrimination in the prices charged by mortgage lenders. We construct a unique dataset where we observe all three dimensions of a mortgage’s price: the interest rate, discount points, and fees. While we find statistically significant gaps by race and ethnicity […]

SBA: FDIC & SBA Update Money Smart for Small Business Credit and Banking Modules

The U.S. Small Business Administration and the Federal Deposit Insurance Corporation have released two updates to the popular Money Smart for Small Business curriculum. The updated modules focus on banking and credit. They are available for SBA Resource Partners, financial institutions and economic development organizations to help train entrepreneurs and small business owners.  Money […]

ABA: Consumer Delinquencies Mixed in Third Quarter of 2019

Consumer credit delinquencies were mixed in the third quarter of 2019, with delinquencies falling for bank cards (credit cards provided by banks) and rising for the composite index of closed-end loans, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. Overall, delinquencies rose in eight of the […]