Links in “Agencies”
- HUD November Scorecard Released: Government? Good. Servicers? Not So Good.
Program efforts of government in HAMP and Neighborhood Stabilization touted while mortgage servicers shown lacking with scores ranging from needing minor improvement to needing substantial improvement. [12/10]
- Student Loan Examination Procedures Overhauled
CFPB revises education loan exam procedures to provide more guidance for examiners to follow. Coverage expands. [12/10]
- Vive la Revolution: CFPB Shows Strong Support for Consumer Federation of America
Director Cordray says CFA is one of CFPB's "foremost and fiercest allies for consumers" and "a group that is so closely aligned to our own goals" during his remarks at the conference, called "The Consumer in the Financial Services Revolution." [12/9]
- Overview of CFPB’s Fall 2013 Agenda
Breakdown of the various regulations by where they are in the rulemaking stage, from prerule to final rule. [12/9]
- CFPB Issues Defintion of Larger Student Loan Servicer
Most FIs are likely safe from coming under CFPB auspices. Definition requires servicing of 1,000,000 student loans. De-qualification requires two years after reduction of student loan accounts below level. [12/9]
- HUD’s New Limits on FHA Announced
HUD maintains the current standard for rural/lower cost areas at $271,050, but reduces the limit for approximately 650 counties from the then $729,750 to the new $625,000. Past increase was part of Economic Stimulus Act of 2008 designed to encourage lending. The bump was scheduled to originally drop in 2009, but allowed to roll-over for 4 years. Apparently, all good things must come to an end. As in 1/1/2014. [12/9]
- CFPB Ombudsman’s Report Addresses Increasing Transparency of Examination Process
Among other issues addressed in the CFPB Ombudsman's 2nd annual report is the issue of transparency in the examination process, including providing information on who composes the examination team up through the Regional Director, designating the Examiner-in-Charge as a point of contact, and other recommendations. [12/6]
- Fed Publishes Standards for Third-Party Relationships
Fed offers guidance in the factors an institution should consider in hiring and supervising a service provider. [12/6]
- Report Criticizes OCC “Examiner in Residence” Program
The agency, which battles the perception that it is too close to the institutions it oversees, is criticized for its practice of putting examiners "in residence" at large institutions, particularly when examiners have been at an institution for more than five years. [12/6]
- FDIC’s December CRA Report Card for Examinations Conducted Issued
Quite a shift from November. For this month, all ratings were positive. 98 satisfactory ratings and 3 outstanding. [12/5]
