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Mortgage Acts and Practices

Mortgage Acts and Practices
  • The Federal Reserve is targeting mortgage rates again in an effort to boost the overall economy.

  • Now that the agency has clarified when lenders have to buy back bad loans, will banks revisit their strict GSE lending standards?

  • Many home owners sold themselves short when they refinanced by not shopping around -- and they may have missed out on even more savings.

  • On Aug. 15, 2012, the Consumer Financial Protection Bureau (CFPB) published in the Federal Register a proposal to implement new Home Ownership and Equity Protection Act (HOEPA) rules that expand the coverage of this statute and tightens the limits of what is considered a high cost loan.

  • On July 9, 2012, NAR President Moe Veissi submitted comment to the Consumer Financial Protection Bureau (CFPB) on its outline of proposals for future mortgage servicing rulemaking.

  • On June 7, 2012, the Federal Reserve Board of Governors unanimously approved the release of three Notices of Proposed Rulemaking (NPRs) for Basel III and the final rule for Basel 2.5.

  • In this week's President's Podcast, 2012 NAR President Moe Veissi welcomes Vice President and Liaison to Government Affairs Scott Louser and Bank of America Executive Matt Vernon.

  • A law enacted in December 2007 provides relief to troubled borrowers when some portion of mortgage debt is forgiven. That relief expires on Dec. 31, 2012. Use this information to better understand mortgage debt cancellation.

  • The Consumer Financial Protection Bureau (CFPB) released an outline of proposals under consideration for rules governing compensation for mortgage loan originators.

  • This week the National Association of REALTORS (NAR) and the Institute of Real Estate Management (IREM) sent an industry coalition letter to Acting Federal Housing Administration (FHA) Commissioner, Carol Galante, asking the agency to adopt a private transfer fee rule in harmony with the final rule recently adopted by the Federal Housing Finance Agency (FHFA).

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