Mortgage Bankers Association President and CEO Bob Broeksmit, CMB, released the following statement regarding the final General QM and Seasoned QM Rules:
Tag: Consumer Financial Protection Bureau
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.
‘Not Ok? That’s Ok:’ Financial Services, Consumer Coalition Launches Borrower Awareness Campaign
The Mortgage Bankers Association and a broad coalition of financial services stakeholders – including mortgage servicers, trade associations, housing counseling agencies, governmental agencies and think tanks – launched a consumer awareness campaign to reach borrowers who have missed one or more mortgage payments as a result of the COVID-19 pandemic and may be eligible for forbearance assistance under the CARES Act or other forms of mortgage payment relief.
Industry Briefs Nov. 5, 2020
Top of Mind Networks, Atlanta, a provider in customer relationship management and marketing automation software for the mortgage lending industry, announced its integration with digital mortgage point-of-sale platform Floify, Boulder, Colo.
Federal Agencies Propose Regulation Codifying Use of Supervisory Guidance
Five federal agencies on Thursday issued a proposed regulation that would codify a 2018 guidance clarifying that supervisory guidance does not have “force and effect of law.”
Federal Agencies Propose Regulation Codifying Use of Supervisory Guidance
Five federal agencies yesterday issued a proposed regulation that would codify a 2018 guidance clarifying that supervisory guidance does not have “force and effect of law.”