Farm Credit Administration Issues Standards of Conduct Rule
The Farm Credit Administration (FCA) last month issued a final rule governing the standards of conduct (SOC) of directors and employees of Farm Credit System... Read More
Federal Regulatory Developments
DOJ Announces Civil Cyber-Fraud Initiative
The U.S. Department of Justice announced recently that it is launching a Civil Cyber-Fraud Initiative, which will use the DOJ’s expertise in civil fraud enforcement,... Read More
CFPB Expands Its Examination Manual to Include a New Section on IT
The CFPB has recently added to its Examination Manual a new section, “Compliance Management Review – Information Technology”. This new section is part of the... Read More
VA Amends Regulations Related to Certain Veterans with Disabilities
The VA is amending its adjudication and loan guaranty regulations which address eligibility and assistance related to specially adapted housing assistance for certain veterans and... Read More
FHA Posts Draft HECM Program Sections of Handbook 4000.1
FHA recently posted the draft Home Equity Conversion Mortgage (HECM) Origination through Servicing sections of its Single Family Housing Policy Handbook 4000.1 (Handbook 4000.1) for... Read More
Chopra Takes Lead at the CFPB
On September 30, 2021, Rohit Chopra was confirmed by the U.S. Senate to lead the CFPB as its third presidentially-nominated and senate-confirmed director since its... Read More
Treasury and FHFA Suspend Certain Requirements Under PSPAs with Fannie Mae and Freddie Mac
The U.S. Department of the Treasury (Treasury) and FHFA recently agreed to suspend certain requirements that were added on January 14, 2021, to the Preferred... Read More
FHA Single Family Announces FHA Catalyst: Single Family Default Monitoring System (SFDMS) Reporting Module
On September 13, 2021, HUD published Mortgagee Letter (ML) 2021-21, FHA Catalyst: Single Family Default Monitoring System (SFDMS) Reporting Module. The ML announces the transition... Read More
CFPB Issues Limited-Content Messages, Call Frequency FAQs
On October 1, 2021, the CFPB issued Debt Collection Rule FAQs on limited-content messages and call frequencies. The subjects of the call frequency FAQs are... Read More
HUD Issues ANPR on New Non-LIBOR Index Rate for ARMs
HUD issued an advanced notice of proposed rulemaking regarding adoption of a new index rate for FHA-insured adjustable rate mortgages (ARMs), as the previously-used London... Read More
FHA Publishes Mortgagee Letter 2021-25, Federal Housing Administration’s Financial Requirements for Mortgagee Eligibility – Update to Unacceptable Assets
FHA recently published Mortgagee Letter (ML) 2021-25, Federal Housing Administration’s Financial Requirements for Mortgagee Eligibility – Update to Unacceptable Assets. This letter, which addresses the... Read More
CFPB Publishes Updated Filing Instructions Guide for 2022 HMDA Data
The CFPB issued the updated Filing Instructions Guide (FIG) for the data collected in 2022 that firms will report in 2023. The 2022 FIG is... Read More
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