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Regulatory

Fannie Mae, Freddie Mac revise condo insurance standards

Affordability, Fannie Mae, FHFA, Freddie Mac, GSEs, Homeowners insurance, HWmember, Mortgage, Regulatory /

Fannie Mae and Freddie Mac on Wednesday announced updates to condominium project standards and property insurance requirements for one- to four-unit properties and project developments, with a stated goal of reducing costs for homeowners. “We are replacing a disruptive and expensive Biden insurance mandate with commonsense policies for today’s market,” Bill Pulte, director of the […]

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Banks eye mortgage growth if Basel III capital rules ease

AmeriHome, Bank of America, Banking, HWmember, LendingLife, Mortgage, Mortgage Servicing, MSRs, Origination, Regulatory, U.S. Bank /

Top banks in the mortgage space, which have relied on a similar playbook for years, say they could become more active if upcoming changes to capital rules provide more flexibility, several industry executives told HousingWire. But any shift in strategy is expected to take time. Depositories typically focus on their existing customer base, ranging from

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Trump executive orders target housing supply and mortgage credit

CFPB, Donald Trump, FHFA, Housing Market, HUD, HWmember, Mortgage, Regulatory, Trump administration /

President Donald Trump on Friday announced two executive orders that aim to increase the U.S. housing supply and consumer access to mortgage credit. One of the orders directs various federal agencies — including the U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA) — to work together on reviewing

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Mortgage trade groups urge VA to revise elements of proposed partial claim rules

Community Home Lenders of America, HWmember, Loss Mitigation, Mortgage, Mortgage Bankers Association, Mortgage Servicing, Regulatory, Servicing, U.S. Department of Veterans Affairs, VA Loan, Veterans /

The Mortgage Bankers Association (MBA) urged the U.S. Department of Veterans Affairs (VA) to revise elements of its proposed partial claim and loss-mitigation policies for VA-backed mortgages, arguing that the draft rules could leave veteran borrowers at a disadvantage compared to others. In a comment letter submitted Wednesday and addressed to Patrick Zondervan, executive director

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Trigger leads restrictions rewrite mortgage outreach rules

HWmember, Lead Generation, Legislation, Marketing, Mortgage, NAMB, Origination, Regulatory, Regulatory Compliance /

The mortgage industry is starting to work through major changes after a federal law restricting abusive trigger leads took effect this week, limiting when credit bureaus can sell a borrower’s information to competing lenders. The policy stems from the Homebuyers Privacy Protection Act (S.B. 3502), which amends the Fair Credit Reporting Act to curb the

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Colony Ridge settlement faces court challenge in Texas

CFPB, Department of Justice, Fair Lending, Hispanic homeownership, Housing Market, HWmember, Lawsuit, Legal, Regulatory /

Fair housing and immigrant advocacy groups are urging a federal court in Texas to reject a proposed settlement between Colony Ridge Development LLC and federal agencies over alleged predatory lending practices. The groups say that key provisions of the agreement are “unlawful, unnecessary and unrelated to the underlying case.” Under the proposed terms, Colony Ridge

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Trade groups push for lower MSR capital charges, tailored mortgage risk weights

Banking, basel III, Federal Deposit Insurance Corporation, Federal Reserve, HWmember, Mortgage, Mortgage Bankers Association, MSRs, Office of the Comptroller of the Currency, Regulatory, Regulatory Compliance /

Eight trade groups representing lenders are urging federal regulators to revise bank capital rules by adopting a more tailored risk weight for mortgages held on balance sheets and by significantly cutting the capital charge applied to mortgage servicing rights (MSRs). In a letter sent Friday to the Federal Reserve, the Federal Deposit Insurance Corp. and the

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Lawmakers press DOJ on Compass-Anywhere Real Estate merger review

Anywhere, Brokerage, Compass, Department of Justice, Elizabeth Warren, HWmember, Mergers and Acquisitions, Real Estate, Regulatory /

Federal lawmakers are urging the Department of Justice (DOJ) to take a closer look at the closed $1.6 billion merger deal between Compass and Anywhere Real Estate. The effort is being led by Sen. Elizabeth Warren (D-Mass.) and Rep. Becca Balint (D-Vt.) with 16 other Democrats as co-signers. In a letter sent Thursday night and obtained

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Bank capital relief may not quickly shift mortgage market dynamics

Banking, basel III, Federal Reserve, HWmember, Keefe, Bruyette & Woods, LendingLife, Mortgage, Mortgage Servicing, MSRs, Regulatory, Regulatory Compliance /

Regulatory changes to how banks treat mortgage assets — anticipated this week by Federal Reserve Vice Chair Michelle Bowman — may have an impact on the mortgage market over time, analysts said. “The near-term impact on the mortgage market is likely to be somewhat limited,” Keefe, Bruyette & Woods (KBW) analysts wrote in a report

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CEA analysis weighs CFPB’s economic impact

CFPB, Compliance, Consumer Protection, Dodd-Frank, Financial crisis, HWmember, Legal, Mortgage, Mortgage Rates, Politics, Regulatory, Regulatory Compliance /

A new report from the Council of Economic Advisers (CEA) estimates that the Consumer Financial Protection Bureau (CFPB) has imposed $237 billion to $369 billion in cumulative costs on U.S. consumers since its creation in 2011, largely through higher borrowing costs. For 2024 alone, the report estimates $24 billion to $38 billion in costs. The

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