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Friday, April 25, 2014
CFPB Launches Pilot Program For Electronic Mortgage Closings
WASHINGTON — The Consumer Financial Protection Bureau unveiled a new pilot program Wednesday designed to allow consumers the ability to electronically review and file mortgage closing documents.
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Credit unions, banks, mortgage lenders and real estate brokerage firms are expected to win some relief soon from a provision of the qualified mortgage rule that restricts fees paid to affiliates. more »
WASHINGTON — Questions are being raised about whether Senate Banking Committee leaders will delay a pending vote on their mortgage finance reform bill as they struggle to secure additional votes. more »
CHICAGO — It took five years, but consumers finally are making their mortgage payments before credit card payments, according to recent analysis from TransUnion. more »
Though the "Great Recession" may be over, its shadow haunts thousands of consumers whose credit scores took a hit due to job loss, missed payments or even a strategic default. more »
LAS VEGAS — Even in this beaten-down housing market some home owners actually have equity, meaning home equity loans — a lending category that largely was forgotten in the aftermath of the housing crisis — are coming back. more »
With mortgage interest rates hovering above historic lows and competition fierce, home lenders are scratching and clawing for every loan they can close. more »
The mortgage market has failed to shift from refinances to purchases as anticipated, according to the Mortgage Bankers Association's latest weekly report on applications. more »
WASHINGTON -- Senate Banking Committee leaders are expected to unveil their highly anticipated bipartisan bill to overhaul the mortgage finance market soon, as the window for moving legislation this year continues to narrow. more »
ALEXANDRIA, Va. -- Pentagon FCU continues to expand its real estate CUSO, a move the CU says is enhancing member service and solidifying long-term relationships. more »
MADISON, Wis. - Will 2014 be the year the rubber meets the road when it comes to mortgage rules and regulation? Jon Bundy, regulatory compliance manager for CUNA Mutual Group, thinks so. more »
Washington - The Federal Reserve's planned reduction in bond purchases will drive rates up 50 basis points over the course of 2014 as mortgage-backed securities spreads widen, agency forecasts say. more »
WASHINGTON -- A recent advisory from the Consumer Financial Protection Bureau continues to muddy the waters for credit unions trying to decipher seemingly conflicting messages from the bureau regarding its Qualified Mortgage (QM) rule that goes into effect in January. more »
Lower credit losses and higher premium revenues pushed the capital ratio of the Federal Housing Administration's mortgage insurance fund closer to positive territory and the agency says it is on pace to reach its statutory capital requirement two years ahead of schedule. more »
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