FHFA announces 2016 conforming loan limits

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

Game changer? Quicken Loans takes mortgage lending fully digital

Launches Rocket Mortgage

Google launches mortgage comparison tool with Zillow

LendingTree will also bring mortgages to Google

Items Tagged with 'CFPB'


Feds announce 2016 threshold for smaller, 'higher-priced’ loan appraisal exemption

Exemption amount remains at same level as 2015
The Federal Reserve Board, the Consumer Financial Protection Bureau, and the Office of the Comptroller of the Currency announced the annual adjustment of the dollar amount used to determine whether a small loan is exempt from the special appraisal requirements that apply to higher-priced mortgage loans.
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CFPB: Complaints against Ocwen are falling

Nonbank showing improvement in consumer complaints
Perhaps constantly being under the microscope of regulators is having a positive impact on Ocwen Financial and its standing with its customers. According to a new report from the Consumer Financial Protection Bureau, complaints about Ocwen dropped by a significant margin in the last year.
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House votes to revamp Qualified Mortgage rules

Presidential veto is looming
The House of Representatives voted Wednesday to change the definition of “Qualified Mortgage,” opening the door to a potentially seismic change in the mortgage lending landscape. But will the President play along?
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OCC to lenders: TRID compliance exams coming

Provides guidance on what examiners will be looking for
In addition to having the Consumer Financial Protection Bureau monitoring lenders’ compliance with its new TILA-RESPA Integrated Disclosures rule, the Office of the Comptroller of the Currency told lenders Friday that it will soon be starting its initial examinations of compliance with the TRID rules.
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PHH posts another big loss in third quarter

Company driven deeper into the red
For the second quarter in a row, PHH Corp. posted a loss, driving the company deeper onto the negative side of the ledger for 2015. Much of the loss was due to setting aside millions for the legal and regulatory battles the company is facing.
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CFPB secures $107 million in relief for consumers

Outlines compliance violations of originators, servicers
In the ninth edition of the Consumer Financial Protection Bureau’s Supervisory Highlights, the bureau records that its actions resulted in $107 million in relief to more than 238,000 consumers. The report includes details on exactly where servicers and originators violated rules.
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Are servicers finally off the CFPB’s hit list?

Bureau offering more carrot, less stick
For quite some time now, it appeared that the Consumer Financial Protection Bureau was out to get the servicing industry. However, a quick perusal of the new supervisory report from the CFPB might be a sign that servicers are no longer at the top of the bureau’s hit list. Can servicers finally breathe a sigh of relief?
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Citi puts power of digital mortgages to the test

Pulls back from retail operations in the northeast
Citi will pull out of its retail operations in the Massachusetts market early next year. The bank was careful to say it wasn’t abandoning mortgage lending in the Bay State, but the decision moves a lot of the lending pressure to the strength of its digital mortgage platform. And not everyone thinks digital is the best option.
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