Links in “Agencies”
- CFPB Wants to Know About Income-Based Student Loan Repayment
The CFPB is surveying student loan servicers about their efforts to "make sure student loan borrowers have the information they need to stay on track." The bureau pledges that responses are voluntary, and that it may make responses public, but will not identify specific market participants." [8/19/15]
- FHA Launches Supplemental Performance Metric
The new tool is designed to help lenders and the public better understand the FHA's acceptable risk tolerance levels for a variety of credit scores. [8/18/15]
- Mandatory Registration for FHA Appraisal Delivery Portal Begins Today
The mandatory registration process for the electronic appraisal delivery portal for mortgagees approved to do business with the FHA begins today. [8/17/15]
- Index to TRID Webinar Questions
Rather than publish a Q&A regarding the TILA/RESPA Integrated Disclosure rules, the CFPB held a series of five webinars in which it addressed questions, making it unwieldy for those who wished to quickly find answers to their questions after the fact. Fortunately, the CFPB has released an index to the various questions on its website. [8/17/15]
- Santander on CFPB’s DOJ Referral: We’re Fine
Santander's subprime auto financing operations have attracted the CFPB's attention, resulting in the bureau turning over its allegations to the Department of Justice. The allegations involve statistical disparities in dealer markups to protected groups and its handling of certain types of income in its underwriting process. The company, which originated more than $7.6 billion in loans in Q2, does not believe that any proceedings "would have a material adverse effects" on its financial position. [8/17/15]
- New HUD App
HUD unveiled the HUD Resource Locator app and website that provides real-time access to HUD housing information and will enable greater connectivity for those involved in aiding individuals with respect to housing assistance. [8/14/15]
- NCUA Expands Transparency Through Video Release
The NCUA's efforts for transparency expand with the announced release of the video recording of the July 2015 open Board meeting. Key elements discussed at that meeting included regulatory relief efforts, operational budget reprogramming, and the performance of the NSUSIF. [8/14/15]
- Citizens Bank Hat Trick
- New Disaster Recovery Center in San Marcos, TX
A new FEMA-sponsored Disaster Recovery Center has been opened in San Marcos, Texas for individuals and small-business owners who experienced damages during recent storms and flooding. A variety of services are available at the center, and survivors needing disaster assistance are encouraged to visit in order to have their recovery needs met. [8/12/15]
- First Cecil the Lion, Now Cecil Bank
The Federal Reserve Board recently announced an enforcement action against Cecil Bank for failing to submit an adequate capital restoration plan. The bank has 90 days to increase the equity of the firm through a number of means set forth by the Board. [8/12/15]
