OCC Releases Risk Report with Key Issues Facing Federal Banking System
The Office of the Comptroller of the Currency (OCC) recently released its Semiannual Risk Report (the Report) outlining the key issues facing the federal banking... Read More
Federal Regulatory Developments
CFPB and DOJ Send Joint Letters to Landlords and Mortgage Servicers About Servicemembers’ and Veterans’ Rights
Recently, the CFPB and DOJ jointly issued two letters reminding landlords and mortgage servicers about legal housing protections for military families under the Coronavirus Aid,... Read More
Ginnie Mae Revises High Balance Loan Limits
Ginnie Mae recently issued All Participant Memorandum (APM) 21-09, which announced increased mortgage loan amount limits for High Balance Loans. Ginnie Mae’s revised High Balance... Read More
VA Extends Suspension on Certain Property Inspection Requirements for COVID-19 Forbearance Cases
In consideration of the COVID-19 national emergency, VA issued Circular 26-20-21 which temporarily suspended certain property inspections on June 8, 2020. The requirements to perform... Read More
VA Extends Rescission Date of Circular 36-19-31
VA issued Change 1 to Circular 26-19-31 extending the rescission date from December 31, 2021, to January 1, 2024. VA Circular 26-19-31 (Circular) provided, among... Read More
FHA Further Extends Review and Feedback Period on Draft HECM Guidance
FHA recently announced a second extension to the review and feedback period for the proposed draft HECM sections in its Single Family Housing Policy Handbook... Read More
CFPB Releases Fall 2021 Supervisory Highlights
The CFPB recently issued its Fall 2021 Supervisory Highlights, discussing findings from its examinations in connection with credit card account management, debt collection, fair lending,... Read More
CFPB Updates HMDA FAQs, Exam Procedures
The CFPB recently published updated HMDA FAQs, specifically addressing loan volume thresholds for determining institutional and transactional coverage under Regulation C. The updated FAQs address... Read More
FTC Publishes Updates to Safeguard and Privacy Rules
The FTC recently issued final rules updating the Safeguard Rule and Privacy Rule in accordance with the agency’s announcement in October 2021 that it would... Read More
CFPB Issues Revised EFTA FAQs
The CFPB recently issued FAQs regarding compliance with the Electronic Fund Transfer Act (EFTA) and Regulation E involving electronic fund transfers, unauthorized transfers, and error... Read More
Agencies Adjust Appraisal Exemption Threshold for HPMLs
A final rule issued by the CFPB, the Federal Reserve, and the OCC took effect on January 1, 2022. The rule adjusts the dollar threshold... Read More
Review and Feedback Period Extended for Defect Taxonomy for Servicing Loans
FHA recently announced an extension to the review and feedback period for the update to the FHA Defect Taxonomy for Servicing Loan Reviews in Handbook... Read More
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