The Consumer Financial Protection Bureau issued a final rule Wednesday aimed at improving the way that companies submit consumer credit card agreements to the Bureau. Collection & Credit Risk
Consumer Financial Protection Bureau Director Richard Cordray said a review of its "qualified mortgage" rule will allow enough time to consider changes if lawmakers fail to make progress on housing finance before a key deadline. News
Sen. Johnson points out that a drafting error in the Dodd-Frank Act led to the current interpretation, which includes mortgage brokerage compensation in the 3% points and fees test. News
Mortgage lenders are hoping the new Republican-controlled Congress will be more receptive to making changes to the "qualified mortgage" rule. News
Federal regulators formally issued a final risk retention rule for mortgage securitizations, a long-awaited and hotly debated measure that is nevertheless expected to have little market impact when it takes effect a year from now. News
WASHINGTON — More than two dozen Senate lawmakers signed a letter this week that urges the Federal Housing Finance Agency to drop its proposal to tighten Federal Home Loan Bank membership rules. News
Mortgage lenders will have 210 days to fix errors in their calculations of points and fees and reimburse borrowers for any overages under a final rule issued by the Consumer Financial Protection Bureau. News
The Federal Reserve Board and Securities and Exchange Commission on Wednesday both signed off on an interagency rule requiring securitizers to hold 5% of the credit risk on loans sold to investors. News
The risk retention rule unveiled Tuesday was hailed by the industry for its definition of a "qualified residential mortgage," but analysts say a comeback for private-label securitization still faces huge obstacles. News
Nearly a year ago, we issued the TILA-RESPA Integrated Disclosure Rule. Many of you know this work as Know Before You Owe and we’ve been talking about it for a while now. Today, we’re issuing a proposal to modify and make technical amendments to this rule. The rule introduced new, easier-to-use mortgage disclosure forms that [...]
