CFPB: Comment Period for ANPR Extended on HMDA Data Points

The Consumer Financial Protection Bureau (Bureau) announced today that it is extending the comment period on its Advance Notice of Proposed Rulemaking (ANPR) relating to the Home Mortgage Disclosure Act (HMDA). The extension will give interested parties an opportunity to review the Bureau’s annual overview of residential mortgage lending based […]

OCC: Improvement in Mortgage Performance Reported for First Quarter 2019

The Office of the Comptroller of the Currency (OCC) reported a slight improvement in the performance of first-lien mortgages in the federal banking system during the first quarter of 2019. The OCC Mortgage Metrics Report, First Quarter 2019 showed 96.2 percent of mortgages included in the report were current and performing at […]

FHFA: More Than 4.3 Million Homeowners Helped Since Conservatorships

 The Federal Housing Finance Agency (FHFA) today released its first quarter 2019 Foreclosure Prevention Report,which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 38,968 foreclosure prevention actions in the first quarter of 2019, bringing the total number of foreclosure prevention actions to 4,322,804 since September 2008.   The report also shows that 38 percent […]

FHFA: Report on Non-Performing Loan Sales Released

The Federal Housing Finance Agency (FHFA) today released its report providing information about the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises).  The Enterprise Non-Performing Loan Sales Report includes information about NPLs sold through December 31, 2018, and reflects borrower outcomes as of December 31, 2018 on […]

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 […]

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 […]

HUD: FHA Offers Incentives for Property Owners Who Invest in Opportunity Zones

Lower costs and dedicated underwriters to stimulate housing investment in distressed neighborhoods The Federal Housing Administration (FHA) today announced a package of incentives to encourage multi-family property owners to invest in thousands of neighborhoods located in Opportunity Zones across the nation. Read today’s Housing Notice. FHA is introducing reduced application fees […]

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 […]

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 […]