|
|
| | | |
|
Fed Issues Proposed, Finalized TILA Rules
The Federal Reserve last week cleared its disclosure rulemaking agenda under the Truth in Lending Act and the Home Ownership and Equity Protection Act with the issuance of a final rule on loan originator compensation and new disclosure proposals. Applicable to closed-end mortgage loans, the new final rule substantially adopts...
|
|
Clarification Sought on New RESPA Guidance
Industry groups and individual market participants have asked the Department of Housing and Urban Development to clarify certain items in its newly launched monthly feature, “RESPA Roundup.” The publication appears to be an informal staff interpretation, yet seems to contradict established regulation implementing...
|
|
Reverse Mortgage Guidance
Member agencies of the Federal Financial Institutions Examination Council have finalized guidance that underscores concerns raised by reverse mortgages. Jointly issued by the Office of the Comptroller of the Currency, Office of Thrift Supervision, Federal Reserve, Federal Deposit Insurance Corp. and National Credit Union Administration, the guidance also stresses...
|
|
Bank Loses Bid for Declaratory Judgment in City’s Nuisance Suit
The banking industry lost a round in the legal battle over subprime nuisance claims brought by the City of Cleveland after an Ohio federal court dismissed a bank’s claim for declaratory judgment. In Chase Bank v. City of Cleveland, the U.S. District Court for the Northern District of Ohio held that...
|
|
Third Circuit Reverses Dismissal of RESPA Claim on Procedural Error
A procedural error led the U.S. Court of Appeals for the Third Circuit to reverse a lower court’s dismissal of a complaint alleging violations of the Real Estate Settlement Procedures Act. In Tubbs v. North American Title Agency, the appellate court found that the district court...
|
|
FDIC Division Created to Enforce BCFP’s Consumer Protection Rules
The Federal Deposit Insurance Corp. last week announced the creation of two new divisions – one responsible for depositor and consumer protection and another to review and oversee systematically significant financial institutions. The Division of Depositor and Consumer Protection and the Office of Complex Financial Institutions were unveiled in anticipation of...
|
|
Policy Set to Allow Greater Public Input in Implementation of DFA
The public will have more say in the shaping of rules implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act under a new “open door” policy announced by the Federal Deposit Insurance Corp. last week. The policy goes well beyond what is required by the Administrative Procedures Act that...
|
|
State Roundup
New York. The NY Department of Banking has adopted new regulations to enhance oversight of mortgage servicers. Among other things, servicers are required to pursue loss mitigation options with homeowners, including loan modifications, in order to prevent foreclosure. In order to handle loan modifications, servicers are...
|
|
Federal Roundup
Federal Trade Commission. Credit Reporting Notices. The FTC has proposed changes to the notices that consumer reporting agencies provide to consumers, users and furnishers of credit report information under the Fair Credit Reporting Act. The agency is seeking comments on...
|
|
Worth Noting
John Taylor, president and chief executive officer of the National Community Reinvestment Coalition, is fuming at the Obama administration for not having consumer and community advocates as panelists in a recent government-hosted conference on housing finance reform. Taylor felt that...
|
|  | | Home | Login | Subscribe | Contact Us | User Agreement & Privacy Policy | © Copyright 2010, Inside Mortgage Finance Publications
7910 Woodmont Ave., Suite 1000, Bethesda, MD 20814
Tel: (301) 951-1240; Fax: (301) 656-1709
All rights reserved. Photocopying or electronic distribution of this web page or any of its contents without prior written consent of the publisher violates U.S. copyright law, and is punishable by statutory damages of up to $150,000 per infringement, plus attorneys' fees (17 USC 504 et seq.). Without advance permission, illegal copying includes regular photocopying, faxing, excerpting, forwarding electronically, and sharing of online access.
|
|
Increase text size: A A A
| | |
|
| | | |
| | |
| | | | | | | | | | | | | | | |
Shopping Cart
