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Results: 102 Articles found.
Aug 27, 2014 12:30 PM

Bank of America Pays Record Fine for Faulty RMBS

Bank of America will pay a record $16.65 billion penalty in the largest civil settlement ever between a single entity and the federal government, USA Today reported Aug. 21.

 
Aug 27, 2014 12:30 PM

Study: Utah Lenders Pay Higher Fees for Complex Appraisals

Mortgage lenders are willing to pay higher fees based on complexity of an appraisal assignment, not on the appraiser’s experience and education; however, appraisers who have a professional designation are more likely to be hired, according to a study conducted by the Utah Association of Appraisers on customary and reasonable fees and released on Aug. 13.

 
Aug 20, 2014 12:30 PM

Freddie Mac: Housing Market on Path to Normal

The nation’s economy is stabilizing and the housing market is expected to return to a more normal state driven by fundamentals such as labor market gains and unemployment rates, Freddie Mac reported Aug. 13 in its U.S. Economic and Housing Market Outlook for August.

 
Aug 20, 2014 12:30 PM

Fannie Mae: 80 Percent of Lenders Avoid Non-QM Loans

The Consumer Financial Protection Bureau’s Qualified Mortgage and Ability-to-Repay mortgage regulations that took effect in January have had little impact on lenders’ strategies so far, but most anticipate a tough environment going forward, according to an Aug.14 Fannie Mae survey of 2,000 senior executives from its list of approved lenders.

 
Aug 20, 2014 12:30 PM

CFPB Fines Lender, AMC for Inflated Appraisal Fees

The Consumer Financial Protection Bureau announced Aug. 12 that it fined mortgage lender Amerisave Mortgage Corp., its affiliate, Novo Appraisal Management Company, and the organizations’ collective owner, Patrick Markert, $19.3 million for allegedly luring prospective borrowers with misleading interest rates and trapping them with inflated appraisal fees.

 
Aug 13, 2014 12:30 PM

Report: Banks Making Fewer Loans Due to New Mortgage Rules/ mortgage scrutiny

The Federal Reserve Board released a survey Aug. 4 in which it reported that some banks are making fewer loans because of new qualified mortgage rules enacted by the Consumer Financial Protection Bureau in January, National Mortgage News reported.

 

Federal Regulators Critical of Bank Living Wills

The Federal Reserve and Federal Deposit Insurance Corporation criticized 11 of the nation’s biggest banks Aug. 5 for their failure to create adequate plans for dismantling themselves in the event of a financial crisis in a way that would not be harmful to the overall financial system, USA Today reported.​

 

FHA Commissioner Galante Stepping Down/ galante

Federal Housing Administration Commissioner Carol Galante announced Aug. 11 that she will be leaving the U.S. Department of Housing and Urban Development and stepping down from her role as assistant secretary for housing at the end of this year, HousingWire reported.

 
Aug 06, 2014 01:00 PM

CFPB Wants More Lender Disclosures

The Consumer Financial Protection Bureau issued a proposal July 24 that would require lenders to disclose more information on mortgages, including homebuyer age and credit score and details about property value and interest rates.

 

House Committee Passes USPAP Exemption Bill

The House Financial Services Committee on July 29 approved H.R. 5148, the Access to Affordable Mortgages Act, which would grant certain “high-risk” mortgages an exemption from having an appraisal performed in accordance with the Uniform Standards of Professional Appraisal Practice, the Appraisal Institute reported.

 
 
Results: 102 Articles found.

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