The Compliance NewsHub

Your Financial Credit & Compliance Research Library.

Compliance Updates and News that Matter

The Compliance NewsHub delivers mortgage, credit and compliance headlines and breaking news to help compliance and quality control professionals easily find relevant news and important regulatory dates.

Recent News

Industry News | December 06, 2021

Reverse Mortgages Could be Highly Beneficial to Mass Affluent Seniors, Study Finds

Reverse Mortgage Daily – Chris Clow

According to a study published in the Journal of Financial Planning, co-authored by Phil Walker, Dr. Barry Sacks, and Dr. Stephen Sacks, reverse mortgages could be highly beneficial to mass affluent seniors.

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State News | December 06, 2021

New York Reverse Mortgage Co-op Bill Signed by Governor

Reverse Mortgage Daily – Chris Clow

New York Governor signed Reverse Mortgage Co-operative bill that allows seniors aged 70 or older living in New York state to take out a reverse mortgage loan on co-operative living space.

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Industry News | December 06, 2021

Reverse Mortgage Volume Drops Slightly as HMBS Issuance Hits New Record in November

Reverse Mortgage Daily – Chris Clow

Home Equity Conversion Mortgage (HECM) volume dropped slightly in November 2021 as HMBS Issuance Hits New Record in November.

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Agency | GSE News | December 03, 2021

USDA Single Family Housing Direct Programs Permissible Packaging Fees Increased

The USDA has released an Unnumbered Letter (UL) increasing the permissible packaging fees for Section 502 Direct certified loan application packaging and American Rescue Plan Act (ARPA) packaging effective immediately.

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Federal Legislation | December 03, 2021

U.S. Law Enforcement Targets Fraud Facilitators, Doubling Last Year’s Enforcement

The fourth annual Money Mule Initiative, which targets networks of individuals through which international fraudsters obtain proceeds of fraud schemes was announced today by the Department of Justice, FBI, U.S. Postal Inspection Service and five other federal law enforcement agencies, including the CFPB.

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Agency | GSE News | December 03, 2021

FHA Extends Temporary Waivers for Face-to-Face Interviews with Borrowers

FHA has published extensions to its temporary regulatory and SFH Policy Handbook 4000.1 waivers allowing mortgagees to utilize alternative methods for conducting face-to-face interviews with borrowers as part of the early default intervention requirements of FHA default servicing through December 31, 2022.

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Federal Legislation | December 03, 2021

OCC: Home Buyers Remain in Large Metropolitan Statistical Areas Despite COVID-19

The Office of the Comptroller of the Currency (OCC) has released an OnPoint economic paper examining mortgage data reported under the Home Mortgage Disclosure Act (HMDA) for evidence supporting the claim of movement away from large metropolitan statistical areas in 2020.

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Federal Legislation | December 03, 2021

U.S. Treasury Supports National Action Plan to Combat Human Trafficking

The U.S. Treasury has announced measures it will use in support of the national action plan to combat human trafficking.

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