Despite their major push to overhaul the housing finance market last Congress, Sens. Bob Corker, R-Tenn., and Mark Warner, D-Va., offered little optimism Tuesday that structural reform is on its way anytime soon.
The Mortgage Bankers Association is disappointed that the Consumer Financial Protection Bureau has not provided an explicit temporary safe harbor for lenders who have made a good-faith effort to implement new disclosures.
Federal examiners will expect institutions to show that they made a "good faith" effort in preparing for the implementation of the new integrated mortgage disclosures that go into effect on Oct. 3, regulators said in letters sent to industry groups on Thursday.
The Federal Housing Finance Agency is planning to issue a final rule in the next 12 months to require Fannie Mae and Freddie Mac to better serve underserved markets, including manufactured housing, the agency said Thursday.
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