Tag Archives: regulations

Mortgage brokers warned of warehouse lending scammers

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Victims have been cheated out of hundreds of thousands of dollars overnight, with imposters also gaining access to borrowers’ sensitive personal information. Continue reading →

Fannie, Freddie mulling tighter rules for multifamily lenders

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Concerns about fraud mean lenders who want to sell multifamily loans to the mortgage giants may be required as soon as this summer to do more due diligence on borrowers and their properties. Continue reading →

Private mortgage insurers again losing market share to FHA, VA

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FHA premium cuts spur growth, but borrowers with stellar credit can still do better taking out conventional Fannie Mae- or Freddie Mac-eligible mortgages with private mortgage insurance. Continue reading →

Mortgage lenders gearing up to use more inclusive credit scoring

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Release of historical credit scores on tens of millions of loans will help lenders prepare for transition to VantageScore 4.0 next year. Release of FICO Score 10 T data next on deck. Continue reading →

Debate over title insurance alternatives is heating up again

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Republican attorneys general in 14 states urge Fannie Mae and Freddie Mac’s federal regulator to kill a pilot program that allows some borrowers to refi without obtaining title insurance. Continue reading →

Regulators modernizing giant database of mortgage pros

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Launched in the midst of the 2008 financial crisis to weed out bad actors, the Nationwide Multistate Licensing System & Registry (NMLS) is scheduled to be updated this weekend as part of a long-term modernization project. Continue reading →

HUD: Appraisal that erased $220K in home value was discriminatory

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Appraisal management company Solidifi and lending giant Rocket Mortgage are also charged with violating the Fair Housing Act. Rocket says it expects to prevail. Continue reading →

‘Historic’ agreement aims to break racial barriers in appraisal industry

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The Appraisal Foundation will establish $1.22 million scholarship fund to help aspiring appraisers navigate “an alternative, more inclusive path” for fulfilling experience requirements that are said to have contributed to a lack of diversity. Continue reading →

Feds want to expand their control over real estate sales to foreigners

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A proposal would expand an existing rule and give the “Committee on Foreign Investment in the United States” power to review real estate sales near 56 military installations in 30 states. Continue reading →

Consumers want lowest mortgage rate, but most won’t shop for it

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ICE Mortgage Technology survey finds 84 percent of homeowners who have taken out a mortgage in the last five years only considered one or two lenders before closing the deal. Continue reading →