Rules – March 10, 2018

CFPB – HMDA Getting it Right

By: Tammy Butler, Master CMB The HMDA Data “Getting it Right” is the thought, hope, and prayer of all lenders and regulators.  The reality is that less than 50% of the HMDA data collected is correct now, and this is before the regulators doubled the fields that need to be collected.  So 2018 data collection [...]

2018-08-26T18:23:18-05:00March 9th, 2018|

CFPB – 2018 List of Rural and Underserved Counties

By: Tammy Butler, Master CMB Believe it or not, there are some lenders that are exempt for Truth in Lending requirements and are also afforded Safe Harbor on their loans – those creditors in underserved or rural markets that meet the requirements contained within 12 CFR 1026.35(b)(2)(iv)(A) and (B). Rule Synopsis: The Bureau has published [...]

2018-05-31T09:15:50-05:00March 9th, 2018|

CFPB – CFPB Requests Opinions on Multiple Topics

By: Tammy Butler, Master CMB Now is your chance to make your opinion known on many issues regarding the direction of the CFPB and their practices.  With the change of leadership at the CFPB, the acting director is shaking things up by soliciting the industry for their opinions on multiple topics.  Just like voting, if you [...]

2018-05-31T09:16:23-05:00March 9th, 2018|

Freddie Mac Bulletin 2018-3 – Dated February 28, 2018

By: Lloyd Rutherford, Staff Writer Freddie has issued some updates this month that may help you be more competitive in pricing, so be sure to read this article and discuss them with your lenders. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will focus on the topics [...]

2018-05-31T09:17:06-05:00March 9th, 2018|

Fannie Mae – 97% LTV Options for Purchases and Limited Cash-Out Refinances – Updated February 2018

By: Lloyd Rutherford, Staff Writer Fannie Mae has updated their FAQs for 97% LTV Options for Purchases and Limited Cash-Out Refinances.  Excellent clarification contained in this article, so be sure to read it and update your knowledge. Rule Synopsis: Fannie Mae updated their 97% LTV Options for Purchases and Limited Cash-Out Refinances FAQ document. The [...]

2018-05-31T09:17:31-05:00March 9th, 2018|