FSOC finalizes nonbank designation rule, reversing Trump-era move

By: ameer@trustedteam.com

Treasury Secretary Janet Yellen, in her capacity as chair of the Financial Stability Oversight Council, approved the passage of a new guidance that would invigorate the council's ability to...

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How commissions litigation could affect mortgage lending

By: ameer@trustedteam.com

The shockwaves from the recent real estate commissions verdict are still reverberating, and the impacts to the mortgage industry could be numerous. Three major real estate players face at least...

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TransUnion suggests alternatives to FHFA’s credit report reduction

By: ameer@trustedteam.com

TransUnion this week asked the Federal Housing Finance Agency to reconsider a plan to start making an optional reduction in the number of credit reports possible early next year. In...

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Change Lending keeps CDFI certification after agreement with US Treasury 

By: ameer@trustedteam.com

Non-bank originator Change Lending will continue to originate non-qualified mortgages (non-QMs) for underserved borrowers after it reached a tentative deal with the U.S. Department of Treasury that would keep...

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

By: ameer@trustedteam.com

The Consumer Financial Protection Bureau (CFPB) this week published a report analyzing state-level community reinvestment laws and ways they promote reinvestment activities for entities including mortgage companies. The 32-page report...

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

By: ameer@trustedteam.com

Canada’s unemployment rate ticked up two basis points to 5.7% in October, suggesting the Bank of Canada can now remain “firmly on the sidelines,” economists say. The rise in...

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Experts predict lower mortgage rates next week as bond yields plunge

By: ameer@trustedteam.com

Mortgage shoppers and those with upcoming renewals may see some rate relief next week thanks to a steep drop in bond yields. This week alone, the 5-year Government of Canada...

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

By: ameer@trustedteam.com

The Federal Housing Administration (FHA) this week published a new draft version of a Mortgagee Letter (ML) containing a series of proposed changes to the Home Equity Conversion Mortgage...

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Extended Maui foreclosure relief covers HECM borrowers

By: ameer@trustedteam.com

The Federal Housing Administration (FHA) this week extended a moratorium on foreclosures on the island of Maui as the community continues to deal with the fallout of devastating wildfires...

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Cyberattack on Mr. Cooper forces it to lock down systems

By: ameer@trustedteam.com

Texas-headquartered lender and servicer Mr. Cooper pointed to a cybersecurity incident that forced the company to lock down certain technology systems including access to its online payment portal.  “On October...

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