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Industry News

This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry. 

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June 28, 2022

Industry Briefs, June 28, 2022

Mortgage Bankers Association

The Mortgage Bankers Association released Industry Briefs for June 28. 2022.

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June 28, 2022

Senate Committee Examines the National Flood Insurance Program

DS News – Eric C. Peck

The U.S. Senate Committee on Banking, Housing, and Urban Affairs held the session to examine the National Flood Insurance program.

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June 27, 2022

OCC Reports Improvement in Overall Mortgage Performance

The Office of the Comptroller of the Currency's (OCC) Mortgage Metrics Report, First Quarter 2022 has been published and shows that mortgages current and performing at the end of the period is up from the prior year.

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June 27, 2022

MBA Advocacy Update June 27, 2022

MBA Newslink--Bill Killmer, Pete Mills

This weeks update includes information on a new online toolkit to assist in developing special purpose credit programs, GSEs Equifax guidance, credit score model requirements and more.

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June 27, 2022

Advice to Bank Directors: Don’t Be Reactive on Credit Quality

BankDirector--David Ruffin

Consumer banks takes most of their risk management cues from external stakeholders, market conditions and regulators however, banks should be more vigilant now than ever and in the upcoming years.

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June 27, 2022

VA Circular 26-22-12: Certificate of Eligibility Funding Fee Status Update For Active-Duty Service Members With Pending Pre-Discharge Claims

The Veterans Benefits Administration (VA) announced in this circular an update to the funding fee status on Certificates of Eligibility (COE) where the lender has submitted VA Form 26-8937, Verification of VA Benefits, for an active-duty Service member who indicates they have a predischarge disability claim pending with VA.

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June 23, 2022

OCC Semiannual Risk Perspective for Spring 2022

The Office of the Comptroller of the Currency (OCC) has published its Semiannual Risk Perspective for Spring 2022, highlighting issues facing the federal banking system.

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June 21, 2022

Hackers stole Social Security Numbers in Flagstar Data Breach Affecting 1.5 Million Customers

Tech Crunch--Carly Page

Flagstar Bank has notified more than 1.5 million customers of a data breach that included Social Security numbers, in its second cyber incident in two years.

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June 21, 2022

MBA Advocacy Update Tuesday June 21, 2022

MBA Newslink--Bill Killmer and Pete Mills

This week's update includes information on the FHFA 2021 annual report to congress, bipartisan data privacy legislation, flood insurance hearings and more.

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June 21, 2022

Unplugging the “Credit Washing” Machine

BAI--Jason Kratovil

Consumers with poor credit and so-so credit are more and more reaching out to credit repair companies that in essence, paints a false picture of a person’s credit risk as well as opens the door for scammers to boost scores causing significant losses for banks and consumers.

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June 21, 2022

Hot housing market is helping those in danger of foreclosure

NEXT

According to The Wall Street Journal, the sizzling housing market is helping people in danger of foreclosure dodge the bullet of losing their homes.

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June 17, 2022

Zombie properties rise

Mortgage Professional America–Richard Torne

According to ATTOM, the number of vacant zombie properties in the US increased in the 2nd quarter, causing a rise in foreclosure activity.

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June 15, 2022

Q4 2021 Critical Defect Rate Rose to 1.95%, Per ACES Quality Management Mortgage QC Industry Trends Report

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June 13, 2022

MBA Advocacy Update June 12, 2022

MBA Newslink--Bill Killmer and Pete Mills

This weeks update includes information regarding the GSEs release equitable housing finance plans, FHFA new pilot GSE transparency framework, Equifax credit coding errors and more.

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