Real Estate Lending

  • CFPB Releases State-level Snapshot of Consumer Complaints

    June 27, 2017, the Consumer Financial Protection Bureau (CFPB) released a special edition of its monthly complaint report, providing a snapshot of consumer complaints submitted across the country. For each state and the District of Columbia, the report provides statistics on complaint volume, the products and services generating the most complaints, company response rates, and […]

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  • OCC Updates Examination Policies Regarding Violations of Laws and Regulations

    May 23, 2017, the Office of the Comptroller of the Currency (OCC) issued Bulletin 2017-18: Violations of Laws and Regulations. The updated policy and procedures are effective on July 1, 2017 and apply to examinations of all national banks, federal savings associations, and federal branches and agencies.

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  • Freddie Mac “No Credit Score” Underwriting Now in Effect

    To expand homeownership opportunities to more borrowers, Freddie Mac has updated its Loan Product Advisor® to allow lenders to assess mortgages for borrowers without credit scores.  The new program is effective for mortgages originally submitted on or after May 14, 2017, with settlement dates on or after June 26, 2017. Loan Quality Advisor® will also […]

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  • Fannie Mae Updates Selling Guide

    April 25, 2017, Fannie Mae released Announcement SEL-2017-04, describing updates to the Selling Guide on a number of topics.

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  • OCC Issues Retail Lending Booklet

    April 12, 2017, the Office of the Comptroller of the Currency (OCC) issued Bulletin 2017-15 “New Comptroller’s Handbook Booklet” announcing its issuance of a new “Retail Lending” booklet.

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  • CFPB Proposes Amendments to ECOA to Provide More Flexibility for Lenders

    The Consumer Financial Protection Bureau (CFPB) has issued proposed changes to the Equal Credit Opportunity Act in order to provide lenders with additional flexibility when collecting consumer ethnicity and race information.

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  • Freddie Mac Announces Selling Guide Updates

    March 16, 2017, Freddie Mac issued Bulletin 2017-2, announcing system enhancements and selling requirement revisions that expand homeownership opportunities and make it easier to do business with Freddie Mac. The changes include: Freddie Mac Loan Product Advisor® Updates Enhancing Loan Product Advisor to allow the assessment of mortgages where no borrower has a credit score. […]

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  • Fannie Mae Announces Simplifying Servicing™ Initiative

    February 15, 2017, Fannie Mae published Servicing News announcing Fannie Mae’s Simplifying Servicing™.  The announcement highlights a new user interface for the SMDU workout decisioning tool, investor reporting enhancements, relief from post-foreclosure expenses and Flex Modification to assist borrowers. To view the Servicing News in its entirety, including the summaries highlighted below: Servicing News The Fannie […]

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  • Fannie Mae Updates Servicing Guide

    February 15, 2017, Fannie Mae issued Announcement SVC-2017-02: Servicing Guide Updates. The Guide has been updated with the following changes, several of which will simplify servicing: Relieves servicers of responsibility for paying most post-foreclosure taxes and homeowners’ association, condo, or co-op fees and assessments for acquired properties. This change will reduce costs and operational risk […]

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  • Fannie Mae Updates Selling Guide

    Key highlights include appraisals, confidentiality and seller/servicer financial eligibility requirements January 31, 2017, Fannie Mae issued Announcement SEL-2017-01 which announces a number of Selling Guide updates.  Below is a brief summary of key updates. Please refer to Announcement SEL-2017-01 for additional updates and complete information on the topics highlighted in this article. Selling Guide Announcement Confidentiality […]

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