FHA Issues Update to Single Family Housing Policy Handbook
On October 24, 2019, FHA announced in FHA Info #19-53 the publication of its quarterly update to the Single Family Housing Policy Handbook 4000.1. The... Read More
Federal Regulatory Developments
HUD and DOJ Release MOU on False Claims Act Violations
On October 28, 2019, HUD and DOJ announced a Memorandum of Understanding (MOU) between the two agencies providing guidance regarding the application of the False... Read More
Regulators Issue Request for Information on Bank Soundness Rating System
The FDIC and the Federal Reserve issued a request for information about their rating system—known as CAMELS—used to measure a bank’s soundness and stability. Comments... Read More
OCC Fines Bank $30 Million for Exceeding Holding Period for Foreclosed Real Estate
The OCC recently announced a $30 million civil money penalty against a national bank for committing violations of the statutory holding period limit for foreclosed... Read More
CFPB Issues Final Rule Implementing Partial HMDA Exemptions and Extension of Temporary Coverage Thresholds
The CFPB recently issued a final HMDA rule, generally effective January 1, 2020, which addresses amendments made by the Economic Growth, Regulatory Relief, and Consumer... Read More
CFPB Announces Taskforce on Federal Consumer Financial Law
In a press release dated October 11, 2019, the CFPB announced plans to “harmonize and modernize” federal consumer financial laws and regulations by establishing a... Read More
President Signs Executive Orders Regarding Transparency in Federal Guidance and Enforcement
On October 9, 2019, the President signed two executive orders (EOs), entitled “Promoting the Rule of Law Through Improved Agency Guidance Documents” (1st EO) and... Read More
Brian Montgomery Nominated for HUD Deputy Secretary
On October 8, 2019, HUD announced that the White House nominated Brian Montgomery to serve as HUD’s Deputy Secretary. If confirmed by the Senate, he... Read More
Agencies Issue Final Rule to Increase Management Interlocks Rule Thresholds
The Federal Reserve Board, FDIC, and OCC (collectively, the Agencies) recently issued a final rule, effective October 10, 2019, which increased both thresholds in the... Read More
FDIC Personnel Changes
The FDIC recently announced the appointment of John F. Vogel as Deputy Director for Operations and Chief of Staff in the Division of Risk Management... Read More
CFPB Announces Advisory Board and Council Members
CFPB Director Kathleen Kraninger announced appointments to the Consumer Advisory Board, and three advisory councils. Consumer Advisory Board (CAB) Chair of the CAB – Brent... Read More
Federal Agencies Raise Appraisal Exemption Threshold to $400K
The FDIC, the Federal Reserve, and the Office of the Comptroller of the Currency (the Federal Agencies) have adopted a final rule that raises the... Read More
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