FSOC finalizes nonbank designation rule, reversing Trump-era move

November 4, 2023by

Treasury Secretary Janet Yellen, in her capacity as chair of the Financial Stability Oversight Council, approved the passage of...

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How commissions litigation could affect mortgage lending

November 4, 2023by

The shockwaves from the recent real estate commissions verdict are still reverberating, and the impacts to the mortgage industry...

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TransUnion suggests alternatives to FHFA’s credit report reduction

November 4, 2023by

TransUnion this week asked the Federal Housing Finance Agency to reconsider a plan to start making an optional reduction...

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Change Lending keeps CDFI certification after agreement with US Treasury 

November 4, 2023by

Non-bank originator Change Lending will continue to originate non-qualified mortgages (non-QMs) for underserved borrowers after it reached a tentative...

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CFPB report finds state community reinvestment laws can go beyond federal version

November 4, 2023by

The Consumer Financial Protection Bureau (CFPB) this week published a report analyzing state-level community reinvestment laws and ways they...

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No more rate hikes expected as unemployment rate rises to 21-month high

November 4, 2023by

Canada’s unemployment rate ticked up two basis points to 5.7% in October, suggesting the Bank of Canada can now...

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Experts predict lower mortgage rates next week as bond yields plunge

November 4, 2023by

Mortgage shoppers and those with upcoming renewals may see some rate relief next week thanks to a steep drop...

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FHA publishes proposed reverse mortgage servicing guidance to Single Family Drafting Table

November 4, 2023by

The Federal Housing Administration (FHA) this week published a new draft version of a Mortgagee Letter (ML) containing a...

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Extended Maui foreclosure relief covers HECM borrowers

November 4, 2023by

The Federal Housing Administration (FHA) this week extended a moratorium on foreclosures on the island of Maui as the...

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Cyberattack on Mr. Cooper forces it to lock down systems

November 4, 2023by

Texas-headquartered lender and servicer Mr. Cooper pointed to a cybersecurity incident that forced the company to lock down certain...

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