FHFA: Index Shows Mortgage Rates Decreased on April 2019

FHFA has determined that due to dwindling participation, the Monthly Interest Rate Survey will be discontinued. This is the final monthly release.  Nationally, interest rates on conventional purchase-money mortgages decreased from March to April, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the […]

FDIC: Agency Resolves Payday Lender Lawsuit

The Federal Deposit Insurance Corporation (FDIC) has resolved a lawsuit with Advance America, Cash Advance Centers, Inc.; Check Into Cash, Inc.; and Northstate Check Exchange. Advance America et al. v. Federal Deposit Insurance Corporation et al. (D.D.C.). The lawsuit had alleged terminations of payday lender bank accounts. In exchange for the plaintiffs’ […]

FHFA: Fannie Mae and Freddie Mac Total Refinance Volume Increases in March 2019 as Interest Rates Falls

The Federal Housing Finance Agency (FHFA) today reported that Fannie Mae and Freddie Mac (the Enterprises) completed 234,716 refinances in the first quarter of 2019.  FHFA’s first quarter 2019 Refinance Report also shows that 901 loans were refinanced through the Home Affordable Refinance Program (HARP), bringing the total number of HARP refinances […]

HUD: FHA Proposes New Lender Certification Requirements

Effort designed to improve clarity and certainty of compliance rules, expand financing options for borrowers The Federal Housing Administration (FHA) today proposed several revisions to its lender certification requirements with the goal of providing lenders and servicers greater certainty in how to satisfy the agency’s compliance requirements. In providing greater […]

Federal Reserve: Final Rule Approved to Repeal Regulations for SAFE Act

The Federal Reserve Board on Thursday approved final amendments to its regulations to reflect the transfer of the Board’s rulemaking authority for the Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act) to the Bureau of Consumer Financial Protection (Bureau). Entities that were subject to the Board’s rules are […]

SBA: Office of Surety Guarantees Award Winners Recognized

The U.S. Small Business Administration (SBA) recognizes the Office of Surety Guarantees award winners for their continued work to help small contracting businesses acquire surety bonds. Three SBA surety bond partners were selected to receive awards based on their participation, activity, claims and recovery, and their commitment to helping small […]

CFPB: Regulations Proposed to Implement the Fair Debt Collection Practices Act

Today the Consumer Financial Protection Bureau (Bureau) issued a Notice of Proposed Rulemaking (NPRM) to implement the Fair Debt Collection Practices Act (FDCPA). The proposal would provide consumers with clear protections against harassment by debt collectors and straightforward options to address or dispute debts. Among other things, the NPRM would […]

CFPB: Notice of Proposed Rulemaking Issued for HMDA Rules

The Consumer Financial Protection Bureau (Bureau) today issued a Notice of Proposed Rulemaking (NPRM), which proposes to raise the coverage thresholds for collecting and reporting data about closed-end mortgage loans and open-end lines of credit under the Home Mortgage Disclosure Act (HMDA) rules. The NPRM would provide relief to smaller […]

FHFA: Index Shows Mortgage Rates Decreased in March 2019

Nationally, interest rates on conventional purchase-money mortgages decreased from February to March, 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 4.36 percent for loans closed in late March, down 10 basis points from […]