Archives For: Industry Updates
CFPB: Advisory Committee Member Announcement
The Consumer Financial Protection Bureau (CFPB) announced the appointment of members to the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC), and Academic Research Council (ARC).
3 Oct 2019
Legislation Addresses Crumbling Home Foundations in Connecticut
PA 19-192–sHB 7179 (An Act Concerning Crumbling Concrete Foundations) became effective after being signed by Connecticut Governor Ned Lamont on July 8. The legislation changes various policies affecting residential homes with
foundations that are crumbling due to the presence of pyrrhotite (“crumbling concrete foundations”).
1 Oct 2019
Earthquake Insurance on Shaky Ground
DS News published an article touching on the low levels of earthquake property insurance in California despite a constant looming threat of danger.
27 Sep 2019
CFPB: Executive Team Additions Announced
The Consumer Financial Protection Bureau (CFPB) announced five additions to its executive team.
25 Sep 2019
Freddie Mac: FHLMC Guide Bulletin 2019-19: Introducing Servicing Gateway
Freddie Mac issued a release announcing a new platform designed to offer an efficient and simplified way to access most of their servicing tools.
18 Sep 2019
Dispose Distress Early to Minimize Loss Severity
HousingWire published an article authored by Auction.com Vice President of Economics Daren Blomquist. In it, Blomquist discusses a recent study conducted by Fannie Mae and researchers from Marquette University and the University of Wisconsin Stout that has found that loss severity on nonperforming loans is lower when properties are disposed of early (before a lender takes ownership).
17 Sep 2019
CFPB: Policies to Facilitate Compliance and Promote Innovation Issued
The Consumer Financial Protection Bureau (CFPB) issued three new policies to promote innovation and facilitate compliance: the No-Action Letter (NAL) Policy, Trial Disclosure Program (TDP) Policy, and Compliance Assistance Sandbox (CAS) Policy.
10 Sep 2019
Kearns To Fight Proposed Zombie Property Plans
Spectrum News published a report discussing criticism of the City of Buffalo’s newly revised tax foreclosure process from Erie County, N.Y., Clerk Mickey Kearns.
10 Sep 2019
Freddie Mac: FHLMC Guide Bulletin 2019-18: Servicing Updates
Freddie Mac issued a release announcing servicing updates that will provide greater flexibility and opportunities for operational efficiency.
14 Aug 2019
HUD: Mitigation Funds to be Released in Two Tranches
The U.S. Department of Housing and Urban Development (HUD) issued a press release announcing the release of an upcoming Federal Register notice that will release disaster mitigation funds in two tranches to areas impacted by recent storms.
2 Aug 2019