DS News: CFPB Issues Ruling to Keep Heirs from Falling into Foreclosure

When a borrower dies, the passing of property to the remaining family members can be a complicated process. Even if there are no issue with the borrower’s estate there can be issues transferring the mortgage to a party that had no previous relationship with the servicer. The Consumer Financial Protection Bureau (CFPB) issued guidance Tuesday… Read More »

HousingWire: TILA-RESPA Rules of the Road

This article is part of HW PartnerDirect™. What is this? Last week we introduced you to the Closing Call Blog, and we hope you have found it informative! We have covered a myriad of the ruling’s components that define some of the operating parameters we are all going to have to get used to. The… Read More »

HousingWire: MA Sues FHFA, Fannie & Freddie Over Foreclosure Buybacks

Several weeks ago, Massachusetts Attorney General Martha Coakley sent a letter to Mel Watt, the director of the Federal Housing Finance Agency, saying that her office was considering legal action against the FHFA over violations of the state’s laws allowing nonprofits to buy foreclosures and return them to the evicted homeowner. In her letter, Coakley… Read More »

HousingWire: Fannie Mae Expands HomePath for Short Sales Website

Fannie Mae is expanding the functionality of its HomePath for Short Sales website. The HomePath site is designed to “help real estate professionals efficiently complete short sales and resolve challenges directly with Fannie Mae.” The site is open to any real estate professional working on a short sale of a Fannie-owned loan. The site’s new… Read More »

Reuters: U.S. Private Lenders Not Ready to Replace Fannie, Freddie: Regulator

(Reuters) – The regulator of government-controlled mortgage finance firms Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) said on Sunday he would not oppose them having a smaller presence in the market but private capital had to be ready to take over first. Federal Housing Finance Agency Director Mel Watt said the two companies, which own… Read More »

MBA NewsLink: NY’s Lawsky: Expect More Scrutiny of Non-Bank Mortgage Servicing

Sorohan, Mike–May 21, 2014 NEW YORK–This city has served the epicenter of enforcement efforts targeting unscrupulous mortgage activity for the past decade. The current superintendent of the New York State Department of Financial Services, Benjamin Lawsky, is the latest standard-bearer for those efforts. Speaking here at the Mortgage Bankers Association’s National Secondary Market Conference &… Read More »

CFPB Opening Board and Council Meetings to Public

CFPB: Our Board and Council meetings are changing Since establishing our Consumer Advisory Board and Councils in 2012, these groups have provided us with information about emerging trends and practices, allowed us to hear directly from small financial institutions, and the Academic Research Council has provided technical and scientific advice to our Office of Research…. Read More »

HousingWire: CFPB Proposes 3 Changes to Mortgage Rules

Depending on what study you read, at least 10% and as many as 46% of borrowers are being left out in the cold because of the increasingly tough credit standards. Now, The Consumer Financial Protection Bureau is attempting to make it a little easier for borrowers to gain access to credit. The CFPB has released… Read More »

Insurance Journal: FEMA Extends ‘Proof of Loss’ Deadline for Sandy Flood Insurance Claims

The Federal Emergency Management Agency (FEMA) issued a bulletin Monday announcing that it will grant an additional extension to Superstorm Sandy victims for the “proof of loss” filing deadline for their flood insurance claims. Under the National Flood Insurance Program (NFIP), claimants must file a proof of loss form, a statement on the amount that… Read More »

HousingWire: Senate delays Johnson-Crapo Housing Reform Vote

The Senate Banking, Housing and Urban Affairs committee is kicking the housing reform can down the road a week or so, delaying a markup of the Johnson-Crapo housing reform measure to enable supporters to get a few more votes after a two-week recess. Johnson-Crapo is one of four GSE reform measures on the Hill. The… Read More »

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