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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.
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.
View SourceThe 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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Search our Compliance Calendar for current
regulatory changes & updates from Fannie,
Freddie, FHA, VA, and USDA.
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.
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.
View SourceThe U.S. Treasury has announced measures it will use in support of the national action plan to combat human trafficking.
View SourceOffice 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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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.
View SourceMortgage 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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