MBA’s Stevens: Final risk retention rule works for mortgage bankers

CrossCheck Compliance LLC, headquartered in Chicago, is a nationwide consulting firm providing regulatory compliance, internal audit, fair lending, loan review, and litigation support services exclusively to the financial services industry.

 · Housing Plus bloggers Michael Skojec and Amy Glassman will be featured speakers on Novogradac’s webinar: “Consequences of Disparate Impact for Multifamily Housing” on July 22. The webinar will discuss the implications of the Supreme Court’s decision in the Texas Department of Housing and Community Affairs v.

National foreclosure inventory drops: LPS Some Highlights: According to CoreLogic, the national foreclosure rate dropped to 1.1% of all homes with a mortgage. This is the lowest percentage experienced since October 2007. April marked the 54th consecutive month of year-over-year declines in foreclosure inventory. Only 3% of homes in the United States are in serious delinquency.

The public will have an opportunity to comment on the CFPB proposal and a final. once the rules were to go into effect," said Mortgage Bankers Association (MBA) President & CEO David H. Stevens..

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The Consumer Financial Protection Bureau (CFPB) has issued the final versions of its new Know Before You Owe’ mortgage forms that lenders will be required to use starting on Aug. 1, 2015. The new forms are designed to help consumers better understand their options, choose the mortgage deal that’s best for them and avoid costly surprises at the closing table.

MBA continues to influence the legislative debate, both as an advocate for the industry’s priorities and as a technical resource. MBA has also developed a series of steps that can be taken now, without Congressional action, to ease with the transition to a new end state for the GSEs and pave the way for housing finance reform.

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Also noted in its Newsflash, there are two changes in the hmda final rule that will specifically. But an entire year? Mortgage Bankers Association (MBA) President and CEO, Dave Stevens, announced.

mortgage broker because that compensation is already included in points and fees as loan originator compensation paid by the consumer or the creditor to the mortgage broker. The final rule excludes from points and fees compensation paid by a creditor to its loan officers.

The Committee will strengthen the Texas Warehousing Industry by encouraging the sharing of risk mitigation techniques, educating the marketplace and fostering TMBA membership. Young Mortgage Bankers The YMB committee will increase accessibility and awareness of the Texas Mortgage Bankers Association to young mortgage banking professionals.

Reflecting the above recommendations for FHA in the broader framework of U.S. mortgage-finance regulation and government intervention, I recommend that: . A critical pending rule would implement the.