Links in “Mortgage Lending”
- Easy There, Commercial Real Estate Lenders
The Fed, FDIC, and OCC remind commercial real estate lenders to reinforce their prudent risk-management practices in light of increased competition. [12/21/15]
- Fed Expected to Raise Rates Tomorrow
It is anticipated that at the end of the two-day meeting of the Federal Open Market Committee meeting, which begins tomorrow, the Committee will announce an increase in the feds fund target rate. The target range has been set between 0.0% and .25% since 2008. Mortgage rates are expected to rise if the fed funds target rates are increase. [12/15/15]
- Moody’s: TRID Violations a Widespread Epidemic
Moody's Investors Services reviewed recent mortgage loans for TILA-RESPA Integrated Disclosure rule compliance and found violations in more than 90% of the loans. [12/11/15]
- NCUA Hits Morgan Stanley for $225 Million
The NCUA reached a settlement with Morgan Stanley for $225 million to resolve claims arising from losses related to corporate credit unionsâ purchases of faulty residential mortgage-backed securities. The action continues a series of settlements with various financial/securities firms with additional pursued actions still pending. [12/11/15]
- Looking into the 2016 Mortgage Market
Interest rates rising throughout the year, luxury home price drops influencing drops in all categories, tight mortgage credit, a downswing in consumer confidence, and increasing delinquencies. Other than that, though, 2016 is looking peachy. [12/9/15]
- How to Keep your Marketing Services Agreements Off the Naughty List
Earlier this year, the CFPB released compliance bulletin warning mortgage lenders that marketing service agreements, or MSAs, present substantial risks involving illegal kickbacks and referral fees under RESPA, the Real Estate Settlement Procedures Act. With these risks on the rise, hereâs what you need to know from the compliance bulletin. [12/8/15]
- Sneaking in Unqualified FHA Loans Can Get Expensive
Two mortgage lenders find out the hard way that originating home loans that don't meet HUD guidelines can be a bad idea. A Tennessee lender has agreed to pay $70 million and a much smaller lender in Utah has agreed to pay $1 million. [12/8/15]
- TRID Worries Continue
A survey finds that 38% of mortgage professionals said compliance with the TILA-RESPA Integrated Disclosure rule remained their chief concern two months after its implementation date. [12/2/15]
- House Bills Could Bring QM and Indirect Lending Regulatory Relief
The House adopted two bills that could provide some regulatory relief and clarity for credit unions. The Portfolio Lending and Mortgage Access Act would provide a safe harbor from certain QM requirements for residential mortgage loans held in portfolio. The Reforming CFPB Indirect Auto Financing Guidance Act would require the CFPB to replace its onerous 2013 bulletin with specific guidance on indirect lending. [11/19/15]
- Are Portfolio Loans About to Head into QM-Land?
The House has voted to expand the definition of "Qualified Mortgage" to include mortgages held on a lender's balance sheet. However, the White House has threatened to veto the act. [11/19/15]
