With unusual speed and rare bipartisan agreement, Congress last week passed, and President Biden signed, legislation designating June 19—colloquially known as “Juneteenth”—a federal holiday, a move welcomed by Americans and supported by the Mortgage Bankers Association and thousands of businesses nationwide. But the speed of the designation—with Friday, June 18 designated a federal holiday—resulted in unintended consequences and disruption for the mortgage lending industry.
Tag: Consumer Financial Protection Bureau
Industry Briefs June 18, 2021
Fannie Mae, Washington, D.C., said economic growth expectations for full-year 2021 were revised modestly upward to 7.1 percent, one-tenth higher than the previous forecast, due to stronger-than-expected consumer spending data year to date.
MBA, Trade Groups Urge Federal Agencies to Continue Alignment of QM/QRM Frameworks
The Mortgage Bankers Association and a half-dozen industry trade groups asked federal regulatory agencies to hold implementation of new credit risk retention guidelines until the Consumer Financial Protection Bureau implements its updated Qualified Mortgage general definition.
MBA, Trade Groups Urge Federal Agencies to Continue Alignment of QM/QRM Frameworks
The Mortgage Bankers Association and a half-dozen industry trade groups asked federal regulatory agencies to hold implementation of new credit risk retention guidelines until the Consumer Financial Protection Bureau implements its updated Qualified Mortgage general definition.
Zaid Shariff of SLK Global Solutions: Avoiding CFPB Regulatory Actions by First Cutting Complaints
Zaid Shariff is vice president – head of solution design and product implementation for SLK Global Solutions, a provider of digital platforms and business process management solutions to the banking, mortgage and financial services industries.
Zaid Shariff of SLK Global Solutions: Avoiding CFPB Regulatory Actions by First Cutting Complaints
Zaid Shariff is vice president – head of solution design and product implementation for SLK Global Solutions, a provider of digital platforms and business process management solutions to the banking, mortgage and financial services industries.
Zaid Shariff of SLK Global Solutions: Avoiding CFPB Regulatory Actions by First Cutting Complaints
Zaid Shariff is vice president – head of solution design and product implementation for SLK Global Solutions, a provider of digital platforms and business process management solutions to the banking, mortgage and financial services industries.
MBA Asks 6-Month Delay of Debt Collections Proposed Rule Effective Date
The Mortgage Bankers Association, in a May 19 letter, asked the Consumer Financial Protection Bureau to delay the effective date of its final rule amending the Fair Debt Collection Practices Act.
Industry Briefs May 21, 2021
Quicken Loans, Detroit, announced it will officially change its name to Rocket Mortgage on July 31. This change will bring alignment to the overall “Rocket” brand.
Dave Parker: CFPB’s New Attitude Toward HMDA Fuels Need for Better Tools
As it typically happens with a new presidential administration, there’s a new attitude in Washington toward the housing market. And one of the most significant changes has been the CFPB’s recent decision to roll back flexibility when reporting Home Mortgage Disclosure Act data. But are lenders ready?