David Stevens, former FHA commissioner and Mountain Lake Consulting CEO, and John Hope Bryant, Operation Hope founder and CEO, join ‘Squawk Box’ to discuss a new federal rule that will subject homebuyers with good credit scores to higher mortgage fees, while riskier buyers will get more favorable mortgage terms. For access to live and exclusive […]
Tag Archives: Rule
19
Mar
Mar
The Department of Housing and Urban Development has confirmed its proposed reversal of a 2020 change to a rule governing Fair Housing Act claims. A new rule set to go into effect 30 days after publication in the Federal Register reverses the one the Trump administration put into place related to so-called disparate impact claims. […]
20
Dec
Dec
Bank statement loans are coming under renewed scrutiny due to the Consumer Financial Protection Bureau’s guidelines that require mortgage lenders to fully verify the income of self-employed borrowers. Due diligence lawyers are scouring the mortgage landscape for problems in home loans on the theory that a recession in 2023 will force some borrowers into default […]
02
Nov
Nov
The possibility that Maine could remove a consumer protection against continued foreclosure litigation after a borrower has won could give servicers expanded options similar to other jurisdictions, experts say. The catalyst for the potential change is J.P. Morgan v. Moultain, a case in which the court system previously found a lack of evidence related to […]
21
Sep
Sep
Ginnie Mae on Tuesday issued a statement indicating most nonbank mortgage companies it works with are ready for its upcoming risk-based capital rule implementation, while also recognizing that not everyone is. “While the overwhelming majority of Ginnie Mae issuers are compliant with these requirements today, we will continue engaging with our issuers throughout the implementation […]
06
Sep
Sep
In our last column, we joyfully heralded the prospect of a uniform, joint rule on issuer eligibility from GNMA and the Federal Housing Finance Agency. And that is mostly what we got. The one negative in the otherwise positive event was the retention of the risk-based capital [RBC] proposal that was contained in last year’s […]
Real Estate World
CFPB to revisit QM rule, New Residential renames itself, Wells Fargo disputes suits and more of the week’s top news
19
Jun
Jun
In the face of hybrid work schedules, workers are moving away from city centers, making the suburbs some of the hottest markets this year. A Zillow report analyzed page view traffic, home value growth and for-sale inventory of more than 1,000 cities. Some of the most popular housing markets include Golden, Colorado, Tustin, California, Edmonds, […]
02
Jun
Jun
The Federal Housing Finance Agency on Wednesday published a final rule that ties new public disclosure requirements for Fannie Mae and Freddie Mac in with a recently-modified enterprise regulatory capital framework. The rule’s publication also makes a stressed-based capital buffer determination used in the regulatory framework part of a new capital planning process for the […]
28
May
May
Moreover, the public reports include quarterly quantitative and annual qualitative disclosures related to risk management, corporate governance, capital structure, and capital requirements and buffers under the standardized approach. “By allowing market participants to assess key .rmation about the enterprises’ risk profiles and associated levels of capital, this final rule will promote transparency and encourage sound […]
22
Oct
Oct
It’s Here: Mortgage Rule Opens Door to Thousands of Condos Buyers found a condo they loved only to find that it doesn’t qualify for a federally backed mortgage? Try again tomorrow. New rules that open more condos and complexes to FHA loans go into effect on Oct. 15 – a break in condo-heavy Fla. […]