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

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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Federal Legislation | December 02, 2021

Agencies Announce Threshold for Smaller Loan Exemption from Appraisal Requirements for Higher-Priced Mortgage Loans

Office of the Comptroller of the Currency

The Consumer Financial Protection Bureau, the Federal Reserve Board, and the Office of the Comptroller of the Currency announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans will increase in 2022.

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State News | December 02, 2021

New Mexico Revised Uniform Law on Notarial Acts (RULONA) is effective on January 1, 2022.

All notarial officers will be required to get new official stamps to meet new legal requirements, keep a mandatory journal of notarial acts, and pass a training examination before being recommissioned.

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Industry News | December 02, 2021

Homeowners unaware of looming insurance hit

Mortgage Professional America (MPA) - Richard Torne

A recent whitepaper indicates that extreme weather events throughout the country may have a significant effect on property insurance rates and warns that there is a “substantial disconnect between insurers and real estate market participants about the magnitude of these (insurance premium) increases”.

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