Fannie Mae and Freddie Mac Address Transition from LIBOR to SOFR
The Federal Housing Finance Agency announced the process by which Fannie Mae and Freddie Mac plan to transition from the use of LIBOR to SOFR as the standard index rate for adjustable rate mortgage (ARM) loan products.
COVID-19 Update: CFPB Issues Temporary Data Collection and Submission Relief
Institutions reporting 60,000 covered loans in the preceding calendar year were originally required to submit their first quarterly HMDA submissions in 2020 by May 30.
Asurity Receives HousingWire Tech100 Award for Third Consecutive Year
HousingWire’s annual Tech100 Award, celebrating the 100 most innovative technology companies serving the mortgage and real estate industries, once again recognized Asurity for its market leading mortgage-tech solutions.
CFPB Requests Public Comment on The Assessment of TRID
The CFPB announced its intent to publish an assessment report on the effectiveness of the TRID Rule.
CFPB Announces Federal Consumer Financial Law Task Force
On October 11, the CFPB announced a new task force to harmonize and modernize federal consumer financial laws.
Federal Compliance Update
The U.S. Congress previously enacted the Economic Growth, Regulatory Relief and Consumer Protection Act which amended the SAFE Act to provide a temporary authority for registered mortgage loan originators to originate mortgage loans at a state licensed mortgage company. The Consumer Financial Protection Bureau (“CFPB”) recently issued an interpretive rule
CFPB Announces Enhancements to Consumer Complaint Database
On September 18th, the CFPB announced changes to its public consumer complaint database.