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Tuesday, October 21, 2014
What Regulators Plan to Target Next on the Mortgages Front
Regulators recently offered a rare behind-the-scenes glimpse of what areas they are targeting for enforcement, saying that potential fair lending violations and how mortgages are priced and serviced remain top priorities for the future.
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WASHINGTON — The merger agreement between the Federal Home Loan Banks of Seattle and Des Moines contains a little-noticed provision that would force one of them to pay a $57 million penalty if it break off talks. more »
The Federal Financial Institutions Examination Council released its annual Home Mortgage Disclosure Act dataset on Monday for the 2013 calendar year. more »
Regulator priorities used to be somewhat clear – making sure lenders were originating and servicing residential mortgage loans in accordance with applicable requirements. But more recently the focus has been on fair lending and disparate impact. more »
BEAVERCREEK, Ohio — Though the refinance boom is over and several mortgage giants are reeling as originations decline, some credit unions are thriving as they tap into a new source — first-time home buyers. more »
National Credit Union Administration board member Rick Metsger said a Federal Housing Finance Agency proposal to restrict Federal Home Loan Bank membership could give banks an unfair advantage over some smaller credit unions. more »
WASHINGTON — Credit unions and community banks are pushing back against a plan unveiled by the Federal Housing Finance Agency this week to restrict membership in the Home Loan Bank System. more »
WASHINGTON — The Consumer Financial Protection Bureau has chosen a dozen firms involved in the mortgage industry — including two credit unions — for a pilot program looking at whether electronic fillings can improve the mortgage closing process. more »
EAST HANOVER, N.J. — Symbionce Financial Solutions LLC, a credit union service organization that offers mortgage services to CUs, on Thursday was ranked number 945 on Inc.magazine's eighth annual Inc. 500|5000. more »
LAGUNA HILLS, Calif. — As if credit union mortgage lenders did not have enough to contend with already, the Consumer Financial Protection Bureau has proposed numerous changes to the way home loan data will be collected — and possibly reported publicly. more »
CHICAGO — Mortgage delinquency rates declined by nearly 20% to a national rate of 3.46% in the second quarter from a year earlier, according to a report from TransUnion LLC. more »
The hot-button topic of what Fannie Mae and Freddie Mac should charge for loan guarantees is emerging as a key issue in reviving a private-label securitization market. more »
SAN JOSE, Calif. — How incredible is the housing market in and around the fabled Silicon Valley, the Northern California home of innumerable tech companies? more »
SAN JOSE, Calif. — Should credit union in the Bay Area be worried about a housing bubble? more »
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International Credit Union Day
October 16, 2014 is International Credit Union Day, and this video from the World Council of CUs (WOCCU) highlights this year's theme and the impact CUs have around the globe.
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