Links in “Mortgage Lending”
- Notes on CFPB’s TILA/RESPA Integrated Disclosures Webinar
A look at the key points that came out of the first in a series of CFPB webinars on the integrated disclosure rules for Truth in Lending and Real Estate Settlement Procedures Acts. [6/20/14]
- CAB Drives Mortgage Market Consumer Protection in Reno, NV
Meeting in Reno, the Consumer Advisory Board (CAB) discussed the mortgage market specifically noting action against mortgage lenders conducting illegal practices, such as SunTrust. CAB asked the public to provide insights into the effects of the six-month-old rules. [6/19/14]
- (Un)Lucky Day to Release Agenda?
This morning, on the notorious Friday the 13th, the CFPB released its updated agenda highlighting anticipated topics of focus for the period of April 1, 2014âMarch 31, 2015. In addition to implementing additional and improved mortgage reforms, the CFPB plans to implement regulatory efforts in other consumer markets and also plans to place efforts on modernizing and streamlining regulations. This agenda will be updated again in the fall of 2014. [6/13/14]
- Cordray on the Benefits of Public Shaming and Other CFPB Tactics
CFPB Director Cordray says that public shaming of mortgage loan services who automatically put a student loan into default if a cosigner dies or becomes incapacitated is important, but that more tools may be needed through rulemaking. It was one of several responses he gave before a Senate hearing this week. [6/12/14]
- Bigger Isnât Always Better
Residential mortgage loan lenders are increasingly willing to explore ways to loan money outside of the âqualified mortgageâ arena. What is one way they can do this? Jumbo loans. [6/9/14]
- NCUA Quarterly Report Shows Continued Growth
Despite declines in mortgage originations, the industry is seeing growth in membership and with other types of loans. On the other hand, credit unions are increasing their long-term investments, which may cause concerns with interest rate risk as rates continue to rise. [6/4]
- A Look at the Scope of TILA/RESPA
Which CUs and mortgage loans are covered by the integrated mortgage rules? [6/2]
- Rhode Island City Accuses Bank of Redlining
Providence, R.I., accuses Santander Bank of deliberatly cutting back on lending to qualified homebuyers in minority neighborhoods while increasing mortgage lending to predominantly white areas. Also see Bank Lawyer's take here. [6/2]
- Forecasters Predict Declines in Purchase Mortgages
Credit unions that are expecting to see an increase in their purchase mortgages are likely to be disappointed. According to the Mortgage Bankers Association, it is estimated that purchase mortgages will decline by $31 billion in 2014. [5/28]
- CFPB Publishes Spring 2014 Rulemaking Agenda
As part of its voluntary participation in the Unified Agenda, the CFPB published its regulatory agenda for Spring 2014. The agenda includes rulemakings concerned with mortgages, defining larger participants, debt collection, payday loans and prepaid cards, and privacy disclosures. [5/27]
