Industry Insight   Regulatory Updates   

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.

Press Release   

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.

Industry Insight   Regulatory Updates   

Mortgage Broker and FTC Settle Over Yelp Reviews

On January 7th, the FTC alleged that a California mortgage broker violated federal law by posting its borrowers’ personal financial information on Yelp.

Press Release   

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.

Fair Lending   Industry Insight   

Fair Lending Lull Not a Cause for Complacency

Lenders should make sure all their fair-lending policies, procedures, and documentation remain fresh, are actively used, and are effective.

Industry Insight   Regulatory Updates   

CFPB Publishes 2020 Rulemaking Agenda

On November 22, the CFPB released its list of regulatory matters that it “reasonably anticipates having under consideration during the period from October 1, 2019 to September 30, 2020.”

Industry Insight   Regulatory Updates   

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.

Industry Insight   Regulatory Updates   

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 

Industry Insight   Regulatory Updates   

CFPB Announces Enhancements to Consumer Complaint Database

On September 18th, the CFPB announced changes to its public consumer complaint database.

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