A newly proposed policy from the Consumer Financial Protection Bureau (CFPB) would allow companies to test new consumer disclosures on a case-by-case basis. Under the proposed policy, the CFPB would allow limited-time exemptions from current federal disclosure laws for approved companies. Those companies would use that time to research and test informative, cost-effective disclosures and share the results of their trial with the bureau, which would use the information to improve its own rules and model forms.
Read More »Capsilon Brings on New Executive to Expand Sales Efforts
Capsilon, a San Francisco-headquartered provider of cloud-based document sharing, imaging, and collaboration solutions for lenders, announced David Hanafee has joined its executive team as VP of worldwide sales.
Read More »FHA Announces 2013 Loan Limits
The Federal Housing Administration (FHA) has released its mortgage loan limits for 2013.
Read More »Trulia: 31% of Renters Plan to Purchase in Next 2 Years
The desire for homeownership is still strong in young renters, according to a survey released by Trulia.
Read More »Independent Mortgage Bankers See Increased Volume, Profits
Independent mortgage bankers are seeing increasing origination volumes and profits, according to a report by the Mortgage Bankers Association (MBA).
Read More »Ellie Mae Releases Cost/Benefit Analysis of Mortgage Management Systems
A study commissioned by Ellie Mae shows lenders using Encompass360 can see vast improvements in compliance and productivity.
Read More »CNB Credits Technology for Successful Leap into Lending
Highlighting its strategic plans, Consumers National Bank cited its strong technology partners as the keys to successfully launching its mortgage unit.
Read More »Stagnant Price Growth Drags Down Consumer Spending
Consumer spending turned down in November after nearly a year of steady gains, according to Deloitte's Consumer Spending Index. The index, which tracks consumer cash flow as an indicator of future spending, comprises four components: tax burden, initial unemployment claims, real wages, and real home prices. The index dipped from 4.14 in October to 3.89 in November, turning around several months of improvement. The index reflects data through October but does not yet show the complete impact of superstorm Sandy.
Read More »Mortgage Rates Hover as Fed Extends Bond-Buying Program
According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) interest rate averaged 3.32 percent (0.7 point) for the week ending December 13, down slightly from 3.34 percent the previous week. The 15-year FRM this week averaged 2.66 percent (0.6 point), down week-to-week from 2.67 percent. Rates measured by Bankrate's weekly survey were even more sluggish. The 30-year fixed averaged 3.52 percent, a slight increase from last week's low of 3.50 percent.
Read More »FHLB of New York Announces Results of Board Elections
Releasing the results of the financial institution's board elections, the Federal Home Loan Bank of New York has announced updates to its directorship. Through the bank's electoral process, appointees were named for two independent director positions and two member director positions, from New Jersey and New York respectively.
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