With the vast amount of information required to approve a mortgage/home loan, it’s the responsibility of the lenders to ensure that the privacy of the information collected from the borrower is maintained.
Category: News and Trends
MISMO Launches New Adverse Action Notice Dataset
MISMO®, the real estate finance industry standards organization, launched its new dataset standard that maps to a sample Adverse Action Notice form and accompanying XML file.
MBA, Coalition Raise Concerns over Proposed Small-Business Tax Increase
The Mortgage Bankers Association and a broad coalition of nearly 200 industry, trade and business groups sent a letter to Capitol Hill this week strongly opposing proposals that would increase taxes on small businesses.
Who Owns Climate Risk? MBA White Paper Examines Challenges, Risks for U.S. Real Estate
The Mortgage Bankers Association issued a white paper examining how climate change is dramatically reshaping lenders’ and policymakers’ approaches to the U.S. real estate market.
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“The overall forbearance rate in June stayed relatively flat with just a 4-basis-point decline from May. Borrowers continue to exit forbearance, but at a much slower pace than six or nine months ago.”
–Marina Walsh, CMB, MBA Vice President of Industry Analysis.
FHA Expands Mortgage Eligibility for Borrowers Previously Affected by COVID-19
The Federal Housing Administration on Thursday expanded mortgage eligibility for borrowers who experienced a gap in employment and/or a reduction or loss of income due to a COVID-19 related economic event.
CFPB Issues Advisory on Personal Data Compilation
The Consumer Financial Protection Bureau on Thursday issued a legal interpretation on how companies that use and share credit reports and background reports can do so under the Fair Credit Reporting Act.
Vacation Home Buyers Ignore Natural Disaster Risk
Redfin, Seattle, said pandemic-era second home and vacation home buyers are largely ignoring natural disaster risk.
Who Owns Climate Risk? MBA White Paper Examines Challenges, Risks for U.S. Real Estate
The Mortgage Bankers Association issued a white paper examining how climate change is dramatically reshaping lenders’ and policymakers’ approaches to the U.S. real estate market.
CFPB Moves to Reduce Junk Fees Charged by Debt Collectors
The Consumer Financial Protection Bureau issued an advisory opinion affirming that federal law often prohibits debt collectors from charging “pay-to-pay” fees.