Government

In a joint release, six federal financial regulators proposed exemptions from Dodd-Frank appraisal requirements for loans of $25,000 or less, certain streamlined refinancings, and certain loans secured by manufactured housing. Those exemptions would join others already laid out earlier this year. According to the release, the proposed exemptions "are intended to save borrowers time and money and to promote the safety and soundness and creditors."

FrontDoor Communities announced it has closed on 158 acres in Atlanta in what is the city's largest residential land acquisition in the last seven years.

In Florida, Lender Processing Services, Inc. (LPS), announced that Vicki Vidal has joined the company as SVP of product management for its Servicing Solutions and Technology division.

The Federal Housing Finance Agency (FHFA) is facing a lawsuit from a housing group for allegedly failing to uphold the GSEs' obligations to make contributions to a housing trust fund. The National Low Income Housing Coalition announced the suit Tuesday. According to the group, Fannie Mae and Freddie Mac have not met their requirements to pay into the National Housing Trust Fund. Law requires the enterprises to transfer a portion of the value of their new business into the fund, though it was suspended in 2008.

Federal regulators announced a proposal Tuesday to double the standard Basel III leverage ratio for the "largest, most systemically significant" banks. The proposal would also require covered bank holding companies to maintain a tier 1 capital leverage buffer of at least 2 percent above the minimum supplementary leverage ratio requirement of 3 percent, for a total of 5 percent, the regulators stated. Currently, the proposed rule would apply to eight banks.

Total Mortgage Services, LLC, a leading mortgage lender, took the next step in its expansion with the purchase of a new headquarters building in Milford, Connecticut.

Americans polled by Consumer Reports indicated they are facing significantly more financial troubles than in June, according to the group's latest index. According to Consumer Reports, the Trouble Tracker Index climbed more than five points to 39.2 in July, "an increase that was entirely fueled by an epic 23.3-point jump among those households earning $100,000 or more," the organization said. The spike in difficulties reported both upper-income households was reflected in the report's consumer sentiment measures.

In Florida, Mortgage Contracting Services (MCS) announced the promotion of Elspeth Spransy to VP of vendor management.

The number of job openings edged up in May, increasing for the for the first time since February as hirings continued to improve, on a pace to exceed 2012, the Bureau of Labor Statistics reported Tuesday in its monthly Job Openings and Labor Turnover Survey.

Stewart Title Company announced the appointment of Mary Ann Nelson-Sutterfield to lead Stewart Abstract & Title of Oklahoma as president.