MISMO®, the real estate finance industry standards organization, issued a call for participants to join a new development workgroup focused on creating standards for Electronic Home Equity Lines of Credit (eHELOC).
Category: News and Trends
MBA Education/MISMO Webinar May 1: Timeline and Updates for FHFA Credit Scoring Changes
MBA Education and MISMO hold a timely webinar, Timeline and Updates for FHFA Credit Scoring Changes, on Monday, May 1 from 1:30-2:30 p.m. ET.
MBA Amicus Brief: Lenders Not Liable for Actions of Independent Appraisers
The Mortgage Bankers Association on Friday filed an amicus brief in litigation in response to a statement of interest filed by the Consumer Financial Protection Bureau and Department of Justice examining the liability standard that would apply to lenders for the acts of independent, third-party appraisers.
To the Point with Bob: FHFA Needs a Better Plan on Loan-Level Pricing Fees
MBA members have a long history of adjusting to regulatory changes. Our more than 2,100 member companies, representing the full range of lenders, loan servicers, and other stakeholders, share FHFA’s goal of a sound mortgage finance system. MBA is certain, however, that the LLPA based on DTI would not advance the GSEs’ mission but instead create complications and problems for borrowers and lenders alike.
CoreLogic: 20M Houses at High Risk from Severe Convective Storms
Twenty million single-family homes are at high risk from severe convective storms, reported CoreLogic, Irvine, Calif.
Zillow: Younger Generations Believe in Homeownership, But Don’t Know How To Achieve It
The American dream of homeownership is not dead for Generation Z and Millennials, but they believe their path to get there will be challenging and may require some luck, reported Zillow, Seattle.
MBA/Urban Institute Report Finds IMB Lending to Minority Neighborhoods/Borrowers Exceeds Banks
A report by the Urban Institute, commissioned by the Mortgage Bankers Association, found independent mortgage ban lending to low- and moderate-income neighborhoods, predominantly minority neighborhoods and LMI predominantly minority neighborhoods is much higher than bank lending in those neighborhoods.
FHFA Issues Notice of Proposed Rulemaking on Fair Lending Oversight
The Federal Housing Finance Agency seeks comment on a proposed rule that would formalize many existing practices regarding fair housing and fair lending oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
Bob Caruso of ServiceMac LLC: Servicing Strategies in a Heightened Compliance Environment
Over the past two decades, regulatory and investor guidelines have become much more nuanced. In addition, maintaining on-going compliance to the rules and audit guidelines has been challenging given servicers’ day-to-day responsibilities. Servicers have had to become more agile and look for ways to update processes and implement changes quickly to reduce the risk of non-compliance.
ATTOM: 1Q Foreclosure Starts Up 29%; REO at 3-Year High
ATTOM, Irvine, Calif., said first quarter foreclosure filings rose by 6 percent from the fourth quarter and by 22 percent from a year ago.