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

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.

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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.

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Legal News | October 28, 2020

Guild Mortgage: DOJ allegations are 'without merit'

Mortgage Professional America--Ryan Smith

Guild Mortgage Company denies there is any merit to the Justice Department's allegations of False Claims Act violations, despite settling for $25 million.

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Legal News | October 28, 2020

R.I. Man Admits to Fraudulently Seeking $4.7 Million in COVID-19 Stimulus Loans

Compliance Alliance

A Rhode Island man has been convicted for his role in falsifying applications to obtain nearly $600k in Paycheck Protection Program (PPP) forgivable loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

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Agency | GSE News | October 28, 2020

Fannie Mae Lender Letter LL-2020-13 – Automatic Reclassification of Delinquent MBS Mortgage Loans

Fannie Mae has updated LL-2020-13 to provide procedural details for servicers related to the reclassification of delinquent MBS mortgage loans and clarify effective dates.

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Agency | GSE News | October 28, 2020

CFPB tags 9th VA mortgage company for false advertising

Mortgage Professional America – Ryan Smith

The CFPB tags the 9th mortgage company for misleading borrowers.

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Disaster News | October 28, 2020

Minority Households Disproportionately Feel Recession-Related Pain

DS News – Christina Hughes Babb

According to a report from Urban Institute research associate Steve Brown, minority households continue to suffer disproportionately from COVID-19 fallout.

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Disaster News | October 28, 2020

COVID-19’s Impact on Home Seller Sentiment

MReport – Cristin Espinosa

A new Zillow survey shows how the COVID-19 pandemic may be responsible for the recent lack of a home for sale.

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