The Compliance NewsHub

Legal News | March 05, 2021

FDIC Issues List of Banks Examined for CRA Compliance

The FDIC issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA) in March 2021.

State News | March 05, 2021

Virginia Enacts the Consumer Data Protection Act (CDPA)

Virginia Senate Bill 1392 enacts the Consumer Data Protection Act (CDPA), which in similarity to California's CCPA/CRPA, establishes a framework for controlling and processing consumers’ personal data; effective January 1, 2023.

Agency | GSE News | March 05, 2021

USDA HB-1-3555, Chapter 9, Mortgage Credit Certificate Guidance Updates

USDA has updated Handbook 1-3555 Chapter 9 to provide guidance regarding the treatment of Mortgage Credit Certificates (MCC) in conjunction with the implementation of the new Guaranteed Underwriting System (GUS), which must be adhered to for all applications effective April 1, 2021.

Industry News | March 05, 2021

MBA Urges Senate to Approve Marcia Fudge as HUD Secretary

Mortgage Bankers Association

The Mortgage Bankers Association asked the Senate to approve Marcia Fudge as HUD Secretary.

Industry News | March 05, 2021

MISMO Seeks Public Comment on Life of Loan Product, Commercial Appraisal Dataset

Mortgage Bankers Association

For 60-day, MISMO is looking for public comment on the MISMO Life of Loan business Model and MISMO Engineering Guidelines (MEG) 3 and 6.

Industry News | March 05, 2021

PCMA launches ad campaign spotlighting its curated credit offerings

Mortgage Professional America – Candyd Mendoza

PCMA launches its new advertising campaign to try and reach more affluent and high net worth borrowers.

Industry News | March 04, 2021

For the first time since July, mortgage rates pass 3%

Housingwire--Alex Roha

The average 30 year fixed interest rate increased 5 basis points last week to 3.02%, marking the first time since July rates have been over 3%.

Legal News | March 04, 2021

Magistrate judge denies CFPB’s motion for partial dismissal of lawsuit challenging creation of Taskforce on Federal Consumer Financial Law

Ballard Spahr--Christopher J. Willis

A Massachusetts magistrate judge has denied the CFPB’s motion for partial dismissal of a lawsuit filed to challenge the creation of the CFPB’s Taskforce on Federal Consumer Financial Law.