The Mortgage Bankers Association last week asked federal regulatory agencies to clarify how existing fair lending and the Equal Credit Opportunity Act adverse action notification requirements apply to Artificial Intelligence technologies.
Tag: Federal Regulators
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.
Federal, State Agencies Issue Joint Statement Encouraging ‘Flexibility’ with COVID-Impacted Homeowners
Federal and state regulatory agencies on Friday issued a statement conceding the need for regulatory flexibility as mortgage servicers work with struggling homeowners affected by the coronavirus pandemic.
MBA, Trade Groups Release Statement Urging Regulators to Establish Liquidity Facility
The Mortgage Bankers Association and a broad coalition of organizations representing financial industry and affordable housing advocates on Saturday released a statement calling on government regulators to provide a source of liquidity to those mortgage servicers that may need additional capacity to support homeowners and renters impacted by COVID-19.
House Committee Asks Regulators, Financial Institutions to Report on Coronavirus Actions
House Financial Services Committee Chair Maxine Waters, D-Calif., sent a letter to Administration officials, regulators and financial services organizations (including MBA President and CEO Robert Broeksmit, CMB, and credit reporting agencies expressing concerns about risks related to the coronavirus pandemic and steps they are taking to prevent Americans and the financial system from being harmed.
MBA Updates Coronavirus Resource Center; House Committee Asks MBA for Input on COVID-19 Consumer Protections; MBA Coronavirus Webinar Today
It seems the only thing moving faster than COVID-19 itself—now classified as a pandemic by the World Health Organization—is news about the coronavirus. Here is a quick update from the Mortgage Bankers Association:
John Vong, CMB, CMT, on eExams and Lending Compliance
John Vong, CMB, CMT, is president and co-founder of ComplianceEase, Burlingame, Calif., and a frequent contributor to MBA NewsLink.