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Mortgage Acts and Practices

Mortgage Acts and Practices
  • 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).

  • Last week, the House Committee on Veterans' Affairs passed H.R. 4482, which would make VA ARM and hyrid ARM products permanent. Adjustable Rate Mortgages (ARMs) are especially useful loan products for active duty military.

  • Thomas B. Pahl, Assistant Director, Division of Financial Practices, Federal Trade Commission, discusses how the Mortgage Acts and Practices (MAP) rule will impact real estate professionals who provide information to consumers about mortgage products.

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