The Consumer Financial Protection Bureau ("CFPB") has issued a final rule ("2016 Mortgage Servicing Rule") which clarifies, revises, and amends certain mortgage servicing provisions under the Real Estate Settlement Procedures Act ("RESPA") and the Truth in Lending Act ("TILA") to provide greater protections to borrowers.
FNC: Home prices slightly increase The latest fnc residential price index (rpi) shows U.S. home prices continuing to rise at a modest pace despite at a flatter rate when compared to the spring and summer months. This trend largely reflects a decline in housing activity. The index, constructed to gauge underlying property value based.
CFPB lays pathway to compliance for lenders, servicers What a Trump administration means for real estate david cay johnston: What Is Trump Hiding in His Tax Returns? – Jon Wiener: The chair of the House Ways and means committee formally requested six years of Trump’s personal and business tax. engaged in money laundering for these people through real estate.Homeloansfriscotx – CFPB lays.
If the balance of a mortgage loan has been accelerated but the servicer has agreed to accept a lesser amount to reinstate the loan, the servicer MUST disclose the LESSER amount, i.e. the reinstatement amount, on the periodic statement; not the entire accelerated balance. In the preamble, the CFPB reasoned that displaying the lesser amount rather than the full accelerated balance would make the consumer more likely to pay the reinstatement amount, thereby preventing foreclosure. The CFPB.
MBA: New home purchase applications slip back down The Mortgage Bankers Association (MBA) said its market composite index, a measure. The Purchase Index was also down, falling by three percent on both a. Much, but not all of the information dates back to 1973 and is presented by way. Applications for financing new home purchases slipped in June in spite of the.Zillow launches new Premier Agent App for mobile devices They are easily listing all properties on sites like Zillow or Trulia. Guide to Download & Install Premier Agent to Manage Zillow & Trulia At one Place on iphone. step 1. launch app Store from your iPhone or iPad home screen. [If you not sign-in, please enter your Apple ID and passcode.] Step 2.TARP was no win for the taxpayers Bankrupt Detroit may soon face delayed foreclosure process Sears is considering filing for bankruptcy protection as soon as this week as it faces a large. losing customers and financial strength in the process. Analysts have predicted the company would.Mortgage fraud rising most in low-downpayment loans conventional loans are the loan products most. of fraud in the underwriting of FHA loans as part of the housing crash a decade ago. As a result, many lenders began to shy away from FHA loans and.A no-deal. designed to win support for their candidacies, but questions have been raised about how they would pay for the pledges. Earlier in the campaign, Mr Johnson said he wanted to raise the.
Fitch: Fannie Mae risk-transfer deal more advantageous for mezzanine investors Advantageous Payment Priority: The payment priority of the M-1 class will result in a shorter life and more stable credit enhancement than mezzanine. investors, Fitch believes the transaction.
Compliance Checklist for CFPB Examinations August 12, 2013 As you may remember from one of our previous blogs, " Financial Institution Compliance and Loan Officer Compensation ," the Consumer Financial Protection Bureau (CFPB) has begun to crack down on non-depository lenders and community banks that had previously flown under the radar.
Lenders and servicers once content with proficiency in bankruptcy must now address a new crossroads of unprecedented consumer rights, information and remedies created by the CFPB.  Created by the Dodd-Frank Wall Street Reform and Consumer Financial Protection Act of 2010, Pub. L. No. 111-203, tit.
Tech snafu, improper foreclosure affidavit lead to sanctions for LPS LPS Lender Processing Services – Sanctions Motion Filed Against LPS by U.S. Bankruptcy Court Trustee for Making Misrepresentations in Statements and/or in Testimony in Open Court Posted by 4closureFraud on May 23, 2010 1 Comment
The CFPB’s ability-to-pay rule and national servicing standards go live in January 2014. Until then, the agency is launching several initiatives to make sure lenders and servicers know how to.
Written by Shereefat Balogun, Regulatory Compliance Counsel. On August 4, 2016, the CFPB amended its mortgage servicing requirements. Since then, NAFCU has been combing through and analyzing the 900+ page rule to help our members better understand the changes and new requirements. We have already blogged on the changes relating to Successors in Interest, Force-Placed Insurance, and Loss.