Links in “Lending”

The National Credit Union Administration provided its 2013 Annual Report Monday, which highlights the agency’s activities, policy initiatives and accomplishments for the year. Through the year, the NCUA focused on reducing regulatory burdens for smaller credit unions and expanding access to affordable financial services for Americans; this resulted in fewer delinquencies and an increased demand for loans, giving federally insured credit unions one of the best years on record. [5/13]

News reports are stacking up about how payday lenders, check cashers, telemarketers, gun dealers and adult entertainers are having their accounts terminated by banks being pressured by regulators, leading to the question of what industry will they feel compelled to shut out next. [5/13]

The 2014 annual report reviews market and regulatory developments and identifies emerging risks to the financial system. Among several new risks identified by the FSOC are those related to the increase in the transfer of mortgage servicing rights (MSRs) from banks to nonbank servicers. [5/12]

The FTC charges mortgage lead generator with violating the Mortgage Acts and Practices Advertising Rule (MAP) as a result of deceptive marketing and practices. [5/9]

The VA issues interim final rule that defines "qualified mortgages" and ability to repay. VA's interpretation allows flexibility designed to meet veteran mortgage needs. [5/9]

The CFPB released a 19-page report addressing the rising mortgage debt for older Americans. The Bureau recommends making mortgage payoff dates a part of retirement plans, avoiding long-term loans that could impact retirement, and considering post-retirement income and expenses. [5/8]

Once appraisal values could be fairly easily manipulated by lenders, which led to economic meltdowns, such as the S&L crisis of the 1990s. Has the pendulum swung too far the other way, adding unnecessary costs and delays to the lending process? [5/8]

The Money Remittances Improvement Act passes in the House and is on its way to the Senate. The bill would make it easier for well-regulated non-banks, such as money services businesses, to provide remittances overseas. [5/8]

Economics professor at Samford University takes a broader look at what happens when you try to clamp down on one part of the balloon (pushing banks out of payday lending) and the air goes to the other part of the balloon (the rise of payday lenders).  [5/7]

Higher Federal Housing Administration fees are shutting out a growing number of low-income borrowers, contributing to the downturn in the housing market. The FHA provided loans to 27,100 borrowers in February, the lowest number since the onset of the financial crisis. [5/7]