FDIC: Affordable Mortgage Lending Guide Information Updated

Summary: The FDIC has updated the Affordable Mortgage Lending Guide, Part I: Federal Agencies and Government Sponsored Enterprises to reflect the most up-to-date information available about the mortgage products offered through federal housing programs, Fannie Mae and Freddie Mac. Statement of Applicability to Institutions with Less Than $1 Billion in […]

CFPB: 2017 Fair Lending Report Promotes Fair, Equitable and Nondiscriminatory Access to Credit

Access to credit is a key to economic mobility and prosperity for consumers and small businesses alike. Our annual Fair Lending Report to Congress highlights how in 2017 we continued to focus on promoting fair, equitable, and nondiscriminatory access to credit in mortgage lending, continued fair lending supervision of servicing […]

FHFA: Index Shows Mortgage Rates Increased in October 2018

Nationally, interest rates on conventional purchase-money mortgages increased from September to October, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.75 percent for loans closed in late October, up 13 basis points […]

CFPB: Natural Disaster Assistance Is Reported on a Minority of Credit Records Among Potentially Affected Consumers

Today the Bureau of Consumer Financial Protection (Bureau) released the latest quarterly consumer credit trends report, this time focusing on the reporting of natural disasters in credit reports. This report explores how financial institutions furnish natural disaster assistance to credit reporting agencies, and summarizes trends in natural disaster reporting for consumers […]

FHFA: Final Rule Issued Amending Federal Home Loan Banks’ Affordable Housing Program Regulation

The Federal Housing Finance Agency (FHFA) has published a final rule amending its regulation for the Federal Home Loan Banks’ (FHLBanks) Affordable Housing Program (AHP).  The final rule provides additional flexibility at the local level for the FHLBanks, in consultation with their Advisory Councils, to allocate their AHP funds and […]

Joint Release: Agencies Announce Threshold for Smaller Loan Exemption from Appraisal Requirements for Higher-Priced Mortgage Loans

The Bureau of Consumer Financial Protection, Federal Reserve Board of Governors, and Office of the Comptroller of the Currency today announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2019 will increase from $26,000 to $26,700. The threshold amount will be effective Jan. […]

HUD: FHA 2018 Annual Report to Congress Released

Capital Reserves remain above statutory minimum for fourth straight year The Federal Housing Administration (FHA) today released its 2018 Annual Report to Congress on the economic condition of the agency’s Mutual Mortgage Insurance Fund (MMI Fund). FHA reports that at the end of Fiscal Year (FY) 2018, the MMI Fund […]

FHFA: Fannie Mae and Freddie Mac Refinance Volume Decreases in Third Quarter 2018

The Federal Housing Finance Agency (FHFA) today reported that Fannie Mae and Freddie Mac completed 253,135 refinances in the third quarter of 2018, compared with 299,460 in the second quarter.  FHFA’s third quarter Refinance Report also shows that 1,865 loans were refinanced through the Home Affordable Refinance Program (HARP), bringing […]