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Results: 114 Articles found.
Nov 19, 2014 01:52 PM

Bank of America Won’t Loosen Lending Standards

Bank of America Chief Executive Officer Brian T. Moynihan said the bank will not loosen mortgage lending standards even though regulators are trying to increase credit availability, Bloomberg reported Nov. 12. He said the bank has no incentive to create more mortgage availability when customers are susceptible to default.

 
Nov 19, 2014 01:47 PM

CFPB Changes Compliance Guide for Mortgage Rules

The Consumer Financial Protection Bureau on Nov. 10 announced two changes to its compliance guide for the new major qualified mortgage rules that took effect this year. The changes address lender and policymaker concerns.

 
Nov 19, 2014 01:44 PM

AI Cautions USDA about Raising Appraisal Threshold

The Appraisal Institute and the American Society of Farm Managers and Rural Appraisers jointly submitted a letter Nov. 14 to the U.S. Department of Agriculture in which they cautioned against proposed changes to the Business and Industry Guaranteed Loan Program that would raise the threshold for when appraisals are required.

 
Nov 12, 2014 12:30 PM

Dodd-Frank, Bank Regulation Uncertain with New Senate

With Republicans about to take control of the Senate, the future of the Dodd-Frank Act remains uncertain, as new conservative lawmakers are expected to target the 2010 law that introduced financial regulatory reform, MarketWatch reported Nov. 5.

 
Nov 12, 2014 12:30 PM

Court Vacates HUD’s Disparate Impact Rule

The U.S. District Court for the District of Columbia vacated the U.S. Department of Housing and Urban Development’s disparate impact rule under the Fair Housing Act after it determined the rule made lenders unfairly vulnerable to discrimination claims even when they took steps to prevent discrimination or when intentional discrimination was absent, MBA NewsLink reported Nov. 5.

 
Nov 12, 2014 12:30 PM

Basel III Accords Scrutinize ‘As Completed’ Appraisal Values

New loan risk weight requirements that impact commercial real estate are putting greater emphasis on the “as completed” value within appraisal reports prepared for acquisition, development and construction loans, known as ADC loans, the Appraisal Institute reported Nov. 12.

 

Appraisers Able to Access RESNET Home Energy Ratings Database

The Residential Energy Services Network announced Oct. 28 that its National Registry is open to the public, which gives appraisers performing “green” property valuations access to valuable home energy ratings data. RESNET is the recognized national standards-making body for building energy-efficiency rating and certification systems in the U.S.

 

Fed Officially Ends Bond Buying Program

The Federal Reserve announced Oct. 29 that it ended its quantitative easing bond-buying program, The Wall Street Journal reported. The announcement was followed by an assurance that short-term interest rates would remain low. Ending the program reflects the Fed’s confidence in the nation’s economy, which grew almost 3 percent in the third quarter, significantly better than the economies in Japan and Europe.

 

Report: Mortgage and Valuation Fraud Increase

Instances of mortgage and appraisal fraud are on the rise, CoreLogic reported Oct. 28 in its 2014 Mortgage Fraud Report. During the second quarter, an estimated 11,100 mortgage applications, or 0.69 percent of all mortgage applications, contained fraud, as compared with 19,700 or 0.67 percent in the second quarter of 2013, when the total application volume was substantially higher.

 
Oct 22, 2014 12:30 PM

FHFA Announces Plans to Reduce Lender Liability

A plan announced by the Federal Housing Finance Agency Oct. 20 would clarify the representation and warranty framework for Fannie Mae and Freddie Mac so as to limit lender confusion and liability on loan buybacks, HousingWire reported.

 
 
Results: 114 Articles found.

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