The Department of Housing and Urban Development is preparing to issue a Real Estate Settlement Procedures Act reform proposal soon, according to secretary Alphonso Jackson.The HUD secretary told the National Association of Mortgage Brokers that it is "too early" to discuss the "substance" of the RESPA proposal. "But I will tell you that there will be a new rule proposed very soon." It is believed HUD is working with the White House budget office on the final drafts of the RESPA proposal. The HUD secretary thanked the mortgage brokers for their input at the RESPA roundtables HUD sponsored last summer. "You made a meaningful difference. I am confident, once you see the HUD proposal, it will be much better because we had your help," the secretary said.
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Regulators are nearing a key step in overhauling credit scoring as the MBA touts its influence on GSE policy and close alignment with Washington leaders.
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The state court seemed open to a narrower view of the legal applicability to loans predating the statute than of broad constitutional challenges to it.
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In dollar terms, the amounts consumers had to come up with increased by $500 on a consecutive quarter basis, in contrast to a $100 drop the year before.
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The rollout comes as the company looks to build out offerings for originators, launching after PHH returned to the proprietary reverse-mortgage arena this year.
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Six trade groups warned the administration layoffs and funding freezes could dampen lending, threatening the administration's goal of economic growth.
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A failure at an Amazon Web Services data center in Virginia caused widespread outages, hitting services at several banks and fintechs.
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