The Federal Financial Institutions Examination Council’s Appraisal Subcommittee will host a panel of federal officials discussing residential appraisal review, and how to better understand the challenges and potential solutions related to appraisal bias.
Read More »Industry Trade Groups Eager to Work with Biden Administration
A broad array of industry spokespersons discussed how the new administration can work with the industry, as well as voicing some concerns over the departure of Kathleen Kraninger from the CFPB.
Read More »Freddie Mac, ABA Alliance Offers Greater Mortgage Assistance to Lenders
The ABA operates as the voice of the nation's $16 trillion banking industry, which is made up of regional and large banks. These banks hold a total of $11 trillion in deposits and extend nearly $8 trillion in loans.
Read More »CFPB to Continue Limiting Credit Availability, Survey Says
The American Bankers Association’s (ABA’s) 22nd Annual Real Estate Lending Survey determined that 90 percent of the typical bank’s mortgage loans made last year were qualified mortgages (QMs). The survey also found that 78 percent of respondents expect the Consumer Financial Protection Bureau’s (CFPB’s) mortgage lending rules will continue to limit credit availability, while 19 percent labeled the impact as severe.
Read More »CFPB Proposes Rule Changes for Underserved, Rural Areas
In a release, the bureau detailed a number of proposed revisions it hopes will increase options for community banks and other smaller mortgage lenders who may have been adversely impacted by last year's newly implemented rules.
Read More »Mortgage Lending Suffers at Insured Banks
FDIC-insured institutions earned $38.7 billion in the third quarter of 2014, a 7.3 percent increase from a year ago, according to FDIC's latest Quarterly Banking Profile. Mortgage loans, still hampered by regulations designed to prevent a recession relapse, dropped by nearly $7 billion.
Read More »One-Third of Bankers to Only Lend Within QM
The American Bankers Association (ABA) released the results of its latest annual Real Estate Lending Survey. According to the ABA, more than 80 percent of bankers surveyed believe that tightened Dodd-Frank rules will restrict credit, thereby narrowing the pool of candidates able to secure mortgages. More than a third of bankers surveyed said they would only offer qualified mortgages.
Read More »Industry Associations Weigh In on CFPB Proposals
The Mortgage Bankers Association released a letter urging the CFPB to avoid proposals that may lead to consequences harmful to the industry.
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