The Compliance NewsHub

Industry News | March 04, 2021

MBA: February Commercial, Multifamily Mortgage Delinquency Rates Decrease

Mortgage Bankers Association

According to the Mortgage Bankers Association, Commercial/Multifamily Delinquency Report for the fourth quarter, delinquency rates for mortgages backed by commercial and multifamily properties decreased in February.

Industry News | March 04, 2021

Despite the ‘She-Cession,’ Women Are Purchasing More Property

M Report -- Christina Hughes Babb

According to a report from Redfin, single women purchased 9% more homes in the fourth quarter than a year ago, compared with a 4.5% increase for single men.

Legal News, State News | March 04, 2021

New York Attorney General Settles With Nationstar in Reverse Mortgage Disclosure Dispute

Reverse Mortgage Daily – Chris Clow

Nationstar Mortgage will pay $500,000 in the Reverse Mortgage Disclosure dispute as a result of the New York Office Attorney General's settlement.

Agency | GSE News | March 04, 2021

Fannie Mae adds to board of directors

Mortgage Professional America – Candyd Mendoza

Fannie Mae announced two new additions to its board of directors and extended Robert Herz’s board term for three years.

Agency | GSE News | March 03, 2021

Freddie Mac Selling Bulletin 2021-9

This guide bulletin announces updates to the following: QC, POA, third-party income and employment verifications, 30 day accounts, Massachusetts housing loan loss and certificates of incumbency.

Disaster News | March 03, 2021

FDIC FIL-13-2021 Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Oklahoma Affected by Severe Winter Storms

The FDIC announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Oklahoma affected by severe winter storms.

Federal Legislation | March 03, 2021

CFPB Proposes Delay Of Mandatory Compliance Date For General Qualified Mortgage Final Rule

The CFPB issued a notice of proposed rulemaking (NPRM) to delay the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022; comments are due on or before April 5, 2021.

Agency | GSE News | March 03, 2021

Fannie Mae Selling Guide Announcement (SEL-2021-02)

Fannie Mae SEL-2021-02 announces updates to the Selling Guide, including updated eligibility and documentation requirements for Power of Attorneys; removal of servicing execution tool in anticipation of final commitment and delivery dates and transition to Servicing Marketplace®; changes to risk factors evaluated by DU® as noted in DU Version 11.0 Release Notes; and the updated definition of planned unit development.