Tag Archives: Ability to Repay

Borrower claims appear to be fleeing the housing market two years after the Consumer Financial Protection Bureau introduced the Ability to Repay rule for mortgage servicers.

Based on an analysis of loan applications passing through its own fraud detection technology, Interthinx said Tuesday that its national Mortgage Fraud Risk Index measured 98 in Q3 2014, down 2 percent from the quarter prior and 9 percent from the year-ago period.

Out of 884 community bankers currently active in the mortgage space, 31 percent expect their institution's residential mortgage holdings at the end of the year will be less than their level last year, according to findings released by the Federal Reserve and the Conference of State Bank Supervisors. Of those who anticipate reductions in the dollar value of their mortgage holdings, most pointed to increased regulation and compliance costs at the reason.

In a follow-up piece on the company's inaugural Mortgage Lender Sentiment Survey, Li-Ning Huang, senior manager of Economic and Strategic Research at Fannie Mae, found that most of the lenders surveyed don't plan to change their current strategy in response to January's regulatory changes, with 46 percent saying they plan to "wait and see" what happens in the market before acting.

The Consumer Financial Protection Bureau (CFPB) issued guidance this week aimed at making it easier for surviving family members who have inherited a property due the death of ...

The Consumer Financial Protection Bureau (CFPB) announced Wednesday it is proposing “minor changes” to its mortgage rules to assist nonprofit organizations in getting loans to underserved communities. “Today’s proposal would maintain those strong protections, while making minor changes to ensure consumers have access to credit,” said CFPB Director Richard Cordray in a statement.