The Compliance NewsHub

Industry News | January 21, 2022

Fannie Mae Appraises The Appraisal

National Mortgage Professional - David Krechevsky

A new report from Fannie Mae indicates that Black borrowers refinancing their homes received slightly lower appraisal values relative to automated valuation models while white borrowers received slightly higher values, on average.

Legal News | January 21, 2022

CFPB Acting General Counsel addresses “confusion” caused by CFPB advisory opinion on earned wage access program

Ballard Spahr Consumer Finance Monitor - Mark J. Furletti

CFPB Acting General Counsel Seth Frotman wrote in a letter to three consumer advocacy groups that he plans to recommend to Director Chopra “that the CFPB consider how to provide greater clarity on these types of issues" due to "confusion" caused by November 2020's advisory opinion on earned wage access (EWA) programs.

Federal Legislation | January 21, 2022

FDIC: Final Rule on Simplification of Deposit Insurance Rules for Trust and Mortgage Servicing Accounts

The Federal Deposit Insurance Corporation (FDIC) has published a final rule to amend the deposit insurance regulations for trust accounts and mortgage servicing accounts which takes effect April 1, 2024.

Agency | GSE News | January 21, 2022

FHA INFO 2022-07 FHA Implements Mortgagee Administrator Role in FHA Catalyst

FHA is announcing new functionality, the Mortgagee Administrator role, on its FHA Catalyst platform enabling mortgagees to manage their organization’s user access on several single family modules within the FHA Catalyst platform.

Agency | GSE News | January 21, 2022

VA Federal Civil Penalties Inflation Adjustment Act Amendments

VA is providing public notice of inflationary adjustments for calendar year 2022 to the maximum civil monetary penalties assessed or enforced by VA, as implemented per the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.

Agency | GSE News | January 21, 2022

Fannie Mae Uniform Closing Dataset (UCD) Collection Solution Enhancements

On January 19, 2022, Fannie Mae released the UCD Enhancements guide provides access to this year’s previous, current, and upcoming UCD updates in an easy-to-read format all in one document.

Agency | GSE News | January 21, 2022

Fannie Mae Uniform Closing Dataset (UCD) Collection Solution Enhancements Updated January 19, 2022

On January 19, 2022, Fannie Mae released the UCD Enhancements guide that provides access to 2021’s UCD updates in an easy-to-read format all in one document.

Agency | GSE News | January 20, 2022

VALERI Servicer Newsflash, January 20, 2022

This VALERI Newsflash details VALERI downtime, reminders of previously issued VA circulars and other servicer news.