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The Consumer Financial Protection Bureau is working on a qualified mortgage rule that will allow the mortgage market to meet the needs of borrowers “throughout the credit cycle,” agency chief Richard Cordray said in new testimony Tuesday morning.
July 24 -
The Federal Housing Finance Agency has hired a consulting firm to create contingency plans for taking Fannie Mae, Freddie Mac and the Federal Home Loan Bank system into receivership.
July 24 -
Monday marked the implementation deadline for the Uniform Loan Delivery Dataset, the new loan-level mortgage information file format developed by Fannie Mae and Freddie Mac for all loans sold to the government-sponsored enterprises.
July 23
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Treasury Secretary Timothy Geithner's appearance this week on Capitol Hill is instead expected to focus primarily on alleged manipulation of the London interbank offered rate.
July 23
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The Consumer Financial Protection Bureau wants to level the playing field so that all mortgage loan officers, whether they work at a bank or a mortgage brokerage, undergo similar training and meet the same standards for character, fitness and financial responsibility.
July 23
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When it comes to automation technology, servicers are faced with a myriad of choices between traditional, in-house software versus vendor-hosted services, or software-as-a-service delivery options.
July 23
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A federal indictment charged 11 individuals for their roles in a $15 million mortgage fraud scam that used straw buyers to make illegal profits on overbuilt condominiums in New Jersey.
July 23 -
The September expiration date for the Small Business Administration's secondary market program for the first lien position means that first mortgages will no longer be eligible for a government guarantee.
July 23 -
Market participants believe the availability of new mortgage production is an obstacle to QE3 despite Federal Reserve chairman Ben Bernanke's supportive comments in his semi-annual congressional testimony.
July 23 -
The Texas community banker who's leading the courtroom fight against the Consumer Financial Protection Bureau took his case to Capitol Hill.
July 23
