Links in “Mortgage Lending”
- Should Your Institution Make Only Qualified Mortgages?
A look at the pros and cons and misconceptions around the decision to limit your future mortgage portfolio to just those loans that meet the definition of a âqualified mortgage.â [10/17]
- CFPB Guides Mortgage Servicing
Guidance on key aspects of mortgage servicing rules including post mortem, early intervention on delinquency, elements of collection and requirements under Fair Debt Collection Practices (FDCP). [10/16]
- Lower Mortgage Limits Could Hurt the Housing Recovery
In a letter to the Federal Housing Finance Agency, CUNA argues that lowering the loan limits for FNMA and FHLMC could further restrict liquidity and make mortgages more expensive. [10/10]
- Average Credit Score for Successful GSE-backed Borrower Today Is 50 Points Higher
Credit scores required to obtain mortgage loans today are far higher than pre-crisis; what's more, households today have to earn those higher scores during a tough economic period when high credit scores are not easy to obtain. [10/9]
- 4 New Tests for Foreclosure Practices
National mortgage settlement head issues four new tests that servicers will have to pass in order to comply with the terms of the 2012 agreement. Here's what they are. [10/4]
- Years and Acquisition Don’t Shed Discrimination Issues
Capital One, which acquired Chevy Chase Bank in 2009, will pay $3 million to settle charges that the bank systematically charged minority borrowers higher mortgage rates from 2006 to 2009. [10/3]
- Rising Interest Rates Are Causing Decline in Mortgage Applications
And declining mortgage applications could have a negative impact on credit union loan growth and fee income, according to NCUA Chief Economist John Worth, who reports that refinancings have dropped by 60% since mortgage rates began to rise in May. [9/26]
- What’s Behind the CFPB’s Endless Tweaking of Mortgage Rules?
The wide latitude granted by Dodd-Frank means CFPB is flying blind in writing its rules. For example, where did the magic number of 43% debt-to-income ratio come from? [9/26]
- CFPB Provides Chart to Help Small Credit Unions Identify Qualified Mortgages
A new chart published by the CFPB is designed to help credit unions and other small mortgage lenders determine whether a mortgage they are considering meets the definition of a âqualified mortgage." [9/25]
- Boston Banking Bill: Burdensome or Brilliant
Some cheer "Invest in Boston" bill as a way to encourage banks seeking to do business with the city to pay attention to their mortgage and small business lending practices, CRA, personal lending, and hiring; others consider the new bill superfluous to federal and state oversight. Boston is 4th major city to pass such a law. [9/20]
