The Home Mortgage Disclosure Act deadline looms closer, but many questions still remain unanswered. One of the most pressing HMDA questions asks who is responsible for reporting HMDA data? Could more than one person be responsible for each origination? Experts answer.
The Home Mortgage Disclosure Act deadline looms closer, but many questions still remain unanswered. In part four of this 10-part series, experts break down what regulators will really expect from lenders now and going forward.
An increasing number of nonbank financial participants are considering an entry or reentry into the mortgage finance market as the financial crisis, which commenced a decade ago, starts to recede from view. As more companies continue to consider entering mortgage finance, here’s everything they need to know about the market, and the regulators that govern it.
The Federal Reserve Bank of Minneapolis president thinks that regulators should take caution, or they could give nonbanks the upper-hand. According to Kashkari, high capital requirements could cause banks to restrict lending and hurt the economy.
Given this quickly changing environment, where the rules can change overnight and companies can be held accountable for errors made before the change, very few companies have any reason to feel secure.
Major lenders and regulators are working hard to find common ground when it comes to home loans to lower-income Americans. As talks continue, the percent of federal Housing Administration loans given to borrowers with weaker credit scores is dropping.
The Consumer Financial Protection Bureau opened a new job for an investigator at its headquarters. On top of making around $100,000 to $150,000, the individual would also get up to 49 days off per year.
Despite a lot of topics on the plate of the Financial Services Committee to debate, they could not seem to get away from the discussion of the Consumer Financial Protection Bureau. This being just one of the several topics discussed.