In a highly unusual move, the Consumer Financial Protection Bureau on Monday announced it would invoke a largely unused legal provision to examine nonbank financial companies that pose risks to consumers.
Tag: Dodd-Frank Act
FHFA Publishes Final Rule on GSE ‘Living Wills’
The Federal Housing Finance Agency on Monday published a final rule that requires Fannie Mae and Freddie Mac to develop credible resolution plans, also known as “living wills.”
MBA Comment Letter Asks Level Playing Field on Consumer Access to Financial Records
The Mortgage Bankers Association submitted a comment letter yesterday to the Consumer Financial Protection Bureau, asking that a Bureau proposal on consumer access to financial records provide a level playing field for all authorized data users and promotes consumer awareness in the ways that data are accessed and used.
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.
MBA Asks CFPB to Extend GSE ‘Patch’ Sunset
The Mortgage Bankers Association, in a comment letter yesterday to the Consumer Financial Protection Bureau, asked the Bureau to extend the temporary GSE Qualified Mortgage loan definition, also known as the GSE “Patch,” for an additional six months following the effective date for the revised general QM parameters.
MBA Asks CFPB to Extend GSE ‘Patch’ Sunset
The Mortgage Bankers Association, in a comment letter yesterday to the Consumer Financial Protection Bureau, asked the Bureau to extend the temporary GSE Qualified Mortgage loan definition, also known as the GSE “Patch,” for an additional six months following the effective date for the revised general QM parameters.
MBA Asks CFPB to Extend GSE ‘Patch’ Sunset
The Mortgage Bankers Association, in a comment letter yesterday to the Consumer Financial Protection Bureau, asked the Bureau to extend the temporary GSE Qualified Mortgage loan definition, also known as the GSE “Patch,” for an additional six months following the effective date for the revised general QM parameters.
CFPB Issues Notices of Rulemaking to Address GSE ‘Patch’
The Consumer Financial Protection Bureau Monday issued two Notices of Proposed Rulemaking to address the impending expiration of the Government-Sponsored Enterprises Patch, also known as the GSE Patch, which affects nearly one million mortgage loans.
CFPB Issues Notices of Rulemaking to Address GSE ‘Patch’
The Consumer Financial Protection Bureau Monday issued two Notices of Proposed Rulemaking to address the impending expiration of the Government-Sponsored Enterprises Patch, also known as the GSE Patch, which affects nearly one million mortgage loans.
Sen. Fischer Reintroduces Bill to Create CFPB Commission; MBA, Trade Groups Send Letter of Support
Sen. Deb Fischer, R-Neb., reintroduced legislation this week that would change the structure of the Consumer Financial Protection Bureau from a single director to a bipartisan commission of five individuals.