The Compliance NewsHub

Federal Legislation | October 29, 2020

Agencies propose regulation on the role of supervisory guidance

The OCC, FRS, FDIC, NCUA and CFPB issued a proposed rule to codify the agencies' use of supervisory guidance for regulated institutions placing force and effect of law and the potential for enforcement actions or supervisory criticisms based on non-compliance with supervisory guidance.

Agency | GSE News | October 29, 2020

USDA Single Family Housing Guaranteed Loan Program Extension of Temporary Exceptions in Relation to COVID-19 Pandemic

USDA has extended the temporary exceptions originally issued on March 27, 2020, pertaining to appraisals, repair inspections, and income verifications due to the COVID-19 pandemic until December 31, 2020.

Industry News | October 29, 2020

Zombie Property Totals Down in Q4

DS News-Christina Hughes Babb

According to ATTOM Data Solutions' recent report, about 1.6 million U.S. residential properties are vacant.

Federal Legislation | October 29, 2020

NCUA Issues Proposed Rule - Derivatives Rule

NCUA issued a proposed rule to amend the NCUA's Derivatives rule. This proposed rule is intended to modernize the NCUA's Derivatives rule and make it more principles-based; comments are due by December 28, 2020.

Disaster News | October 29, 2020

Updates on Statewide Foreclosure and Eviction Moratoria

DS News-Christina Hughes Babb

The JDSupra legal news sites provide the most-recent statewide updates on Foreclosure and Eviction Moratoria.

Agency | GSE News | October 29, 2020

FHA ML-2020-37 Extension of Re-verification of Employment Guidance and Updated Appraisal Scope of Work Option Extended to December 31, 2020

FHA announced the extension of re-verification of employment guidance and updated appraisal scope of work option to December 31, 2020.

Legal News, State News | October 28, 2020

Massachusetts federal court stays effective date and enjoins enforcement of HUD final rule revising FHA disparate impact standards; 2 other lawsuits filed challenging rule

Ballard Spahr LLP--Christopher J. Willis & Richard J. Andreano, Jr.

Massachusetts federal district court has stayed HUD's 2020 rule revising its 2013 Fair Housing Act disparate impact standards.

Industry News | October 28, 2020

To fight terrorism, FinCEN and Federal Reserve Board request comment on proposed major expansion of recordkeeping and travel rules for international transfers

Ballard Spahr LLP--Peter D. Hardy

FinCEN and the Federal reserve Board are proposing and requesting comment on a proposed change to include virtual currency in the BSA's definition of money.