The Compliance NewsHub

State News | June 23, 2021

Maine Amends Provisions Regarding Mortgage Servicer

Maine LD 1066 (SP 334) is an act to clarify the definition of a "mortgage servicer" in the laws governing mortgage foreclosures, effective September 28, 2021.

State News | June 23, 2021

Texas Amends Provisions Regarding Maintenance and Location of Offices

Texas Senate Bill 1900 amends provisions regarding requirements for maintenance and location of offices under its Residential Mortgage Loan Company Licensing and Registration Act effective September 1, 2021.

Legal News | June 23, 2021

US Supreme Court makes FHFA decision

Mortgage Professional America-Candyd Mendoza

The Supreme Court ruled today that the structure of the Federal Housing Finance Agency is unconstitutional, but that the director must be able to be removed at will by the president.

Agency | GSE News | June 23, 2021

Fannie Mae Reminder: Application received date cut-off for purchase of CMT-indexed ARMs

As announced in LL-2021-05, Fannie Mae and Freddie Mac (the GSEs) will not purchase any Constant Maturity Treasury (CMT)-indexed ARM with an Application Received Date of July 1, 2021, or later.

Disaster News | June 23, 2021

HUD $2 Billion CDBG-DR Allocation for Enhanced or Improved Electrical Power Systems in Puerto Rico and The U.S. Virgin Islands

HUD issued a notice governing the use of the $2 billion CDBG-DR allocation for enhanced or improved electrical power systems in Puerto Rico and the U.S. Virgin Islands.

Federal Legislation | June 23, 2021

FDIC Statement of Policy Regarding Minority Depository Institutions

FDIC published a Final Rule issuing a Statement of Policy Regarding Minority Depository Institutions that updates, strengthens, and clarifies the agency's policies and procedures related to minority depository institutions effective August 23, 2021.

Industry News | June 23, 2021

Latest Fraud Trends and Insights: Expert Perspectives with Data Facts Rory Tipton

Expert Perspectives: Data Facts, Rory Tipton

• What types of fraud should lenders be on the lookout for in 2021 and beyond?
• What 7 areas of fraud does Data Facts’ ADV-120 platform evaluate?
• What are the benefits to using an integrated credit reporting service for post-closing QC reverifications?

Agency | GSE News | June 22, 2021

Freddie Mac Loan Advisor Feedback Messages Update

Freddie Mac is updating several Loan Product Advisor feedback messages including, the Enhanced Relief Refinance offering is no longer available, updated messages will inform you when a loan is not eligible for ACE and a new SOFR ARM message to provide more clarity for how the qualifying interest rate, used to determine debt-to-income, is calculated.