Category: News and Trends

The Internal Revenue Service, responding to pressure from the Mortgage Bankers Association and other industry trade groups, said it would resume processing tax transcript information requests it originally said it had to suspend during the partial government shutdown.

TransUnion, Chicago, said low unemployment rates and continued positive growth in both GDP and real disposable income are among the key drivers that will propel the U.S. consumer credit market in 2019.

The Mortgage Bankers Association and the Independent Community Bankers of America, in a joint letter to federal agencies, asked for a meeting to discuss the status of proposed rulemakings issued more than a year ago aimed at reducing regulatory compliance burdens, particularly on community banking organizations.

The commercial mortgage-backed securities delinquency rate resumed its year-long downward trajectory in November after a very brief uptick in October, reported Trepp, New York.

The Federal Housing Finance Agency yesterday asked public comment on a proposed rule that would establish standards and criteria for the validation and approval of third-party credit score models used by Fannie Mae and Freddie Mac.

Wolters Kluwer, Minneapolis, released its annual Regulatory and Risk Management Indicator survey for the U.S., noting two-thirds of bank and credit union respondents continue to cite risk and compliance challenges as high, although there is “notable easing” compared to 2017 risk and regulatory anxiety levels.

The Trump Administration this week signaled it intended to nominate Mark Calabria, a longtime Washington policy operative who currently serves as Vice President Mike Pence’s chief economist, as Director of the Federal Housing Finance Agency.

CoreLogic, Irvine, Calif., reported year-over-year U.S. serious delinquency and foreclosure rates fell for the ninth consecutive month and were the lowest for September in 12 years, despite upward spikes in areas affected by recent natural disasters.

The Federal Housing Finance Agency (released its annual report on single-family guarantee fees charged by Fannie Mae and Freddie Mac, noting little change over the past several years.

This is the final issue of MBA Servicing NewsLink for 2018. MBA offices will be closed the week of Dec. 24 for the holidays and will reopen on Wednesday, Jan. 2, 2019.