Private capital seeks to step up its game as GSE reform gains momentum Lender with ties to Warren Buffett backs a loan for manufactured homes Lender with ties to Warren Buffett backs a loan for manufactured homes Silverton Mortgage, an affiliate of Warren Buffett’s Berkshire Hathaway, has joined a small but growing group of lenders in offering a newer form of government-sponsored enterprise financing for manufactured homes.Private capital seeks to step up its game as GSE reform gains momentum. With prospects for government-sponsored enterprise reform improving, players in the private residential mortgage-backed securities market are starting to think about. Read More
CFPB turns its reg relief focus to HMDA The consumer financial protection Bureau proposed steps to ease Home mortgage disclosure act requirements, just days after announcing it was retiring a platform to let users analyze raw mortgage data.
California fines United Shore $1.4M for interest overcharges Lending Real Estate Homeowners United Shore to pay $1.4 million for allegedly overcharging california borrowers ceo Mat Ishbia: We didn’t benefit one penny and not one borrower was harmed
Warren W. Traiger was quoted on May 2, 2019 in a National Mortgage News article, "CFPB turns its reg relief focus to HMDA," which discussed the Consumer Financial Protection Bureau’s steps to ease reporting requirements under the Home Mortgage Disclosure Act after the agency has previously.
CFPB delays enforcement of HMDA reporting requirements By Stephanie K. Mann, J.D. The Consumer Financial Protection Bureau has announced that it will not require data resubmission under the Home Mortgage Disclosure Act unless data errors are material or assess penalties with respect to errors for data collected in 2018 and reported in 2019.
Southern Top Producers are less smitten by self-service mortgage tech Booms MBA chief refinance economist Mortgage. – Southern Top Producers are less smitten by self-service mortgage tech National Mortgage News. Quicken Loans parent company beefing up Canadian investments; GE puts WMC Mortgage into bankruptcy as it faces $1.7B in settlements; southern top producers are less smitten by self-service mortgage tech; rising rates now affecting purchase mortgage.
The Consumer Financial Protection Bureau (CFPB) plans to further relax its Home Mortgage Disclosure Act (HMDA) rules and may be making additional rule changes in the near future. Earlier this month, the bureau issued a notice stating that it was considering raising the coverage thresholds for collecting and reporting data about closed-end mortgage loans and [.]
New-home sales climb for a third straight month in March Pending home sales fell by more than expected in February SIFMA approves changes to allow forward delivery of loans for UMBS Ex-lendingqb asks dissolve exec vendor court tech. – SIFMA approves changes to allow forward delivery of loans for umbs wells fargo, NeighborWorks plan to further expand Lift program The number of homeowners participating in an expanding down payment assistance program offered by Wells Fargo and NeighborWorks could top 20,000 this year. The program, which 1,624 homeowners participated in between.Pending home sales fell slightly in February, after a solid gain in January.. Even if there is a change, NAR anticipated the Fed will lower.Market Insights U.S. new-home sales climb for a third straight month in March Purchases of new homes climbed in three of four regions, led by a 17.6% jump in the Midwest.
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CFPB turns its reg relief focus to HMDA CFPB turns its reg relief focus to HMDA The Consumer Financial Protection Bureau proposed steps to ease Home Mortgage disclosure act requirements, just days after announcing it was retiring a platform to let users analyze raw mortgage data.
· Under the current CFPB proposal, that threshold would be extended for two years, at which time it would be set permanently to 200. With many small institutions havinglines in response to the onerous HMDA reporting requirements, ABA emphasized that these relief measures would incentivize institutions to begin or restart mortgage lending operations.
Five things every credit union needs to know about new HMDA rules. More from Credit Union Journal. CFPB extends comment period for hmda proposal. proposed hmda changes could offer ‘broad-based relief’ to credit unions. May 10 CFPB turns its reg relief focus to HMDA. May 2 CFPB details what.