Links in “Mortgage Lending”
- Must the CFPB Demonize Lenders?
Industry observer questions whether the CFPB, when it published its final rule on the mortgage loan disclosures, had to characterize the rules as necessary to combat the practices of "evil, nasty lenders," when lenders have been using the exact disclosures that the government mandated. [12/12]
- NCUA Issues December Report
Articles highlight new CUSO rule, guidance on mortgage rules and Chairman Matz' regulatory outlook as well as a NCUA version of "'Twas the Night before Christmas." [12/12]
- 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]
- Another City Looking at Eminent Domain for Foreclosures
Newark, N.J. is the latest addition to the list of municipalities looking at the controversial use of eminent domain to restructure underwater mortgages. City official says it must consider the approach to counter the "uncaring tone-deafness of the banks." [12/6]
- Test of Mortgage Servicers Finds Widespread Compliance Failures
Testing of five servicers subject to the National Mortgage Settlement against 29 metrics reveals seven failures, especially in sending notices and communicating with struggling homeowners in a timely manner. [12/5]
- Unsettling Findings for Mortgage Settlement Firms
HUD speaks out on latest report card for nation's largest mortgage servicers and notes continued weaknesses in "sending notices and communicating with struggling homeowners in a timely manner." Potential severe penalties could result. [12/5]
- Bipartisan Group of Senators Enter Eminent Domain Fray
Richmond, California's threats to use eminent domain against some mortgage loan investors if they don't sell their loans to the city prompts group of senators to write strongly worded letter to HUD to step in. [12/4]
- U.S. Seeks to Add Wells Fargo Exec to Mortgage Fraud Lawsuit
Attorneys for U.S. seek to add Wells Fargo's VP in charge of quality control to its mortgage fraud lawsuit. [11/25]
- Initial Industry Reaction to the New Mortgage Disclosure Forms Rule (All 1,888 Pages of It)
Initial praise and concerns from the Independent Community Bankers of America for the new mortgage disclosure form rules (nearly 1,900 pages worth) released yesterday . [11/21]
- New Integrated Mortgage Disclosure Final Rule Is Long. Seriously.
The final rule/official interpretation document is long. 1,888 pages long. Click here to download it for some light reading this weekend. [11/21]
