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Final Anti-Money Laundering Rule for Non-bank Lenders and Originators Released

February 13, 2012: 

On February 7, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury released a final rule that subjects nonbank residential mortgage lenders and originators to certain anti-money laundering (AML) regulations already applicable to other types of financial institutions.

HUD Removes Streamline Refinances from Lender Compare Ratio Calculation

February 13, 2012: 

Part of the Obama Administration’s announcement to help underwater homeowners includes the Streamline Refinance offered by the Federal Housing Administration (FHA).

House Subcommittee Passes FHA Bill

February 13, 2012: 

The Housing and Insurance Subcommittee of the House Financial Services Committee last week passed the " FHA Emergency Fiscal Solvency Act" (no bill number yet).

See Who ‘Unfriended’ You on Facebook

February 10, 2012: 

Want to see which of your clients or colleagues may have “unfriended” you on Facebook? A third-party script program — not endorsed by Facebook — called Unfriend Finder notifies you whenever a “friend” decides to part ways with you. Your message will come to you in the same way as a friend request or message.

NAR Spearheads Industry Effort to Ensure RESPA/TILA Changes Work

February 6, 2012: 

On Friday, January 27, 2012, NAR submitted an industry letter to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray asking that the CFPB be more forthcoming in the underlying regulations governing the harmonization of disclosures and form under RESPA and TILA.

FHFA Seeks Applicants to Pre-qualify for REO to Rental Plan

February 6, 2012: 

On February 1 the Federal Housing Finance Agency (FHFA) announced that it is now accepting applications for investors who wish to bid on transactions in the initial pilot projects to be offered in the Obama Administration’s plan to expedite the disposition of foreclosed properties held by Fannie Mae, Freddie Mac, and FHA.

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