Compliance & Regulation

Impac Mortgage temporarily shut lending operations and furloughed 333 workers due to market turmoil tied to the novel coronavirus.

Future loss mitigation may be most effective if housing-finance industry stakeholders communicate clearly with consumers about these five aspects of the Coronavirus Aid, Relief and Economic Security Act.

As the nation struggles with the coronavirus, now is not the time to make major revisions to the Community Reinvestment Act.

The National Credit Union Administration is giving lenders and borrowers extra time to complete appraisals to ensure mortgages are still being completed despite the pandemic.

The move is part of an effort by CFPB Director Kathy Kraninger to help smaller lenders by significantly raising loan thresholds for collecting and reporting mortgage data.

The agency is still moving forward on key regulations dealing with payday lending and mortgage underwriting despite new demands posed by the crisis.

The Federal Reserve's $2.3 trillion loan stimulus includes plans for outstanding commercial mortgage-backed securities and newly issued collateralized loan obligations.

Lenders and community groups say it's a mistake for the banking agencies to move forward during a national crisis. But Comptroller of the Currency Joseph Otting says updated Community Reinvestment Act rules would speed relief to neighborhoods and small businesses.

Five Democrats on the Senate Banking Committee sent a letter to Director Kathy Kraninger calling the agency's response to COVID-19 “tepid and ineffectual at best.”

Almost all California foreclosures and evictions have been put on hold for the foreseeable future.