On Jan. 17, Consumer Financial Protection Bureau Director Kathy Kraninger sent a letter to members of Congress, signaling proposed changes to the current Qualified Mortgage standard.
Tag: Consumer Financial Protection Bureau
MBA Advocacy Update
On Friday, Consumer Financial Protection Bureau Director Kathy Kraninger sent a letter to Congress outlining the Bureau’s plan for a revised Qualified Mortgage Standard.
CoreLogic: With QM GSE ‘Patch’ Set to Expire, Impact Warrants Closer Investigation
In two blog posts this week, CoreLogic, Irvine, Calif., said expiration of the Consumer Financial Protection Bureau’s Qualified Mortgage “GSE Patch” has thus far resulted in little distinction in loan delinquencies in certain rate spread categories, but noted closer investigation is warranted.
Industry Briefs
The Tennessee Mortgage Bankers Association is providing up to $10,000 in college scholarships for 2020, its 60th anniversary year.
MBA, Trade Groups File Amici Brief on Constitutionality of CFPB Structure
The Mortgage Bankers Association, the National Association of Realtors and the National Association of Home Builders this week filed a neutral amici brief with the U.S. Supreme Court in a case that could determine the future structure of the Consumer Financial Protection Bureau.
CFPB Proposed Rulemaking would Expand Remittance Rule Safe Harbor
The Consumer Financial Protection Bureau on Dec. 3 issued a Notice of Proposed Rulemaking clarifying its Remittance Rule to provide more flexibility to smaller lenders and credit unions.
CFPB’s Fall Regulatory Agenda: LO Comp, Industry Issues on Radar Screen
The Office of Management and Budget released its Fall Regulatory Agenda, and the Consumer Financial Protection Bureau indicated that changes to Mortgage Loan Originator compensation–a long time regulatory priority of the Mortgage Bankers Association–appears to be high on the radar screen.
CFPB to Assess Integrated Mortgage Disclosure Rule
The Consumer Financial Protection Bureau said it would conduct and assessment on the TRID Integrated Disclosure Rule under the Truth in Lending Act and the Real Estate Settlement Procedures Act.
CFPB Issues Interpretive Rule on Loan Originator Screening, Training Requirements
The Consumer Financial Protection Bureau on Friday issued an interpretive rule clarifying screening and training requirements for financial institutions that employ loan originators with temporary authority.
CFPB, Fed, OCC Increase Thresholds for Small Loan Exemption Appraisal Requirements for Higher-Priced Mortgage Loans
The Consumer Financial Protection Bureau, Federal Reserve Board and Office of the Comptroller of the Currency yesterday announced the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2020 will increase from $26,700 to $27,200.