Your Busy Government–Latest on Reform Summary, QM, and CFPB on Appraisals & LO Comp

mnc-bc-fay2

email signup          RSS News Signup          Fay Servicing          BC’s profile

————

Reform Summary:

(overall excellent summary with lots of links) Mortgage Reforms Keep Coming – By Karen Weise – Bloomberg Businessweek 
————

More on QM:

(lots on QM) How the new mortgage rules will impact the housing marketOC Housing News

————
(QM, High Cost Mortgages, Escrow Rule Changes) Regulatory Meltdown Starts Monday – Penny Showalter – National Mortgage News 
————

From the CFPB:

(PRESS RELEASE)
Here is the CFPB press release – worth reading all: Consumer Financial Protection Bureau rules establish strong protections for homeowners facing foreclosure – New rules prevent servicer surprises and runarounds for mortgage borrowers
————
(APPRAISALS) Agencies Issue Final Rule on Appraisals for Higher-Priced Mortgage LoansFR Board of Governors 
————
(LO COMP) CFPB Issues Mortgage Compensation Rule to Prevent Steering – by Jason Oliva – … Under the rules, brokers or loan officers cannot receive additional payment if the consumer chooses a loan with a higher interest rate, a prepayment penalty or higher fees. Originators also cannot get paid more if consumers agree to buy title insurance from the lender’s affiliate. The rule also prohibits originators from receiving dual compensation, meaning getting paid by both borrower and the creditor. … more  – Reverse Mortgage Daily

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s