Attorney General Peter F. Kilmartin joined housing advocates — as well as the mayors of Providence, Pawtucket and Warwick — to urge the General Assembly to extend the state's Foreclosure Mediation Act, set to expire on July 1.
As banks modernize their mortgage platforms, they need to be mindful of a slew of state and federal laws, some of which are in the process of changing.
JPMorgan Chase has largely sat on the sidelines of Federal Housing Administration lending due to compliance concerns. But recent regulatory relief efforts have Chase Home Mortgage CEO Mike Weinbach eyeing an opportunity to jump back in.
The increased regulatory burden created by the Dodd-Frank Act restricted bank residential lending in 2017, especially when it came to non-qualified mortgages, according to an American Bankers Association survey.
Although the Consumer Financial Protection Bureau is loosening certain mortgage rules, others such as restrictions on loan officer compensation and state-level regulation will likely persist, according to industry attorneys.
Executive Vice president of Strategic ProgramsIndustrial Bank
A provision to remove new mortgage recordkeeping requirements would help overburdened community banks lend without disrupting data collection that is used to police discrimination.
For nearly a decade, the FHFA has restricted Fannie Mae and Freddie Mac from trying to influence the raging debate over whether they should live or die.
Mick Mulvaney’s recent comments about the CFPB Qualified Mortgage rule have triggered a debate over whether regulators should take into account more than one underwriting model.
