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In the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) of 2010, Congress directed the Consumer Financial Protection Bureau (CFPB) to adopt regulations that will govern data collection for small business and agricultural lending.
The Protecting Tenants at Foreclosure Act of 2009 (PTFA) was enacted on May 20, 2009. The major provision of the PTFA was to ensure protection from eviction for tenants...
Recently we polled our Compliance Master Group members on the Ability-to-Repay/Qualified Mortgages rules. There were no huge surprises, but we got a lot of confirmation of what we expected to see:
The appraisal rules contained in Regulation B were revised on January 18, 2013. The revisions are effective on January 18, 2014. Among other requirements, the revised regulation requires that:
Fannie Mae has developed a new Uniform Residential Loan Application form (Fannie Mae Form 1003 – revised 6/09). Use of the new form is required for applications taken on...
In the early morning hours on Friday June 25th a congressional panel reached agreement on a sweeping overhaul of the financial system. The agreement now must go to the...