President-Elect Joe Biden on Monday nominated Rohit Chopra, who worked closely with Elizabeth Warren in creating the Consumer Financial Protection Bureau in the wake of the Great Recession, to serve as the Bureau’s next Director.
Tag: Consumer Financial Protection Bureau
Housing Market Roundup, Jan. 4, 2021
We hope you had an enjoyable holiday break. Here is a summary of some reports that came out over the holidays:
Industry Briefs Dec. 23, 2020
The Federal Housing Administration announced completion of its revised and streamlined loan-level certification form required from lenders when originating a single-family mortgage intended for FHA insurance endorsement.
Industry Briefs Dec. 15, 2020
LERETA, Pomona, Calif., a provider of national real estate tax and flood services, acquired the Flood Determinations Solution from Wolters Kluwer Governance, Risk & Compliance, Minneapolis, for an undisclosed sum.
MBA Statement on CFPB Final General QM, Seasoned QM Rules
Mortgage Bankers Association President and CEO Bob Broeksmit, CMB, released the following statement regarding the final General QM and Seasoned QM Rules:
CFPB Issues Final QM Mortgage, Seasoned QM Rules
The Consumer Financial Protection Bureau on Thursday issued final rules related to qualified mortgage loans. The Mortgage Bankers Association provided preliminary summaries of the final rules.
Industry Briefs Dec. 3, 2020
ReverseVision, San Diego, updated all documents that reference an index to support both the Constant Maturity Treasury (CMT) and London Interbank Offer Rate (LIBOR) indexes.
Industry Briefs Dec. 1, 2020
Fitch Ratings, Chicago, said while the ongoing coronavirus pandemic has negatively impacted the broader economy, the title insurance industry remains positioned for favorable margins with positive housing and mortgage market fundamentals heading into 2021.
Federal Agencies Hold Threshold for Smaller Loan Appraisal Requirements Exemption
The Consumer Financial Protection Bureau, Federal Reserve Board and Office of the Comptroller of the Currency announced the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2021 will remain at $27,200, as it was in 2020.
Industry Briefs Nov. 13, 2020
Qualia, San Francisco, launched its Physical Document Service, enabling mortgage lenders to automate management of paper trailing documents from title partners through Qualia.