Freddie Mac Bulletin on Hurricane Florence
Freddie Mac recently issued a Sellers and Servicers Guide Bulletin that temporarily revised their selling requirements in the wake of Hurricane Florence. The Bulletin also “[r]eminds... Read More
Federal Regulatory Developments
VA Announces Status of 2014 Interim Final Rule Regarding QMs and IRRRLs
The VA recently published an update concerning the status of a VA interim final rule that was previously published on May 9, 2014. The interim... Read More
FDIC Announces Trust Through Transparency Initiative
In a recent address to federal and state banking regulators the Chairman of the FDIC, Jelena McWilliams, announced a Trust Through Transparency Initiative to further... Read More
BCFP Settles with eCommerce Retailer for Delaying Transfers of Customers’ Payments to Debt Buyers
A major eCommerce retailer settled allegations that it violated the CFPA by subjecting customers to misleading collection activity. The BCFP alleged that the retailer received... Read More
USDA Revises Rural Development Form 3555-21 (Request for Single Family Housing Loan Guarantee)
The USDA recently revised RD Form 3555-21 (Request for Single Family Housing Loan Guarantee). Effective November 1, 2018, all loan packages submitted to the USDA... Read More
BCFP Issues RFI and Report on its Data Collections
On September 28, 2018, the Bureau of Consumer Financial Protection issued a request for information (RFI) seeking comments on the overall efficiency and effectiveness of... Read More
FHA to Require Second Appraisal for Some Reverse Mortgages
On September 28, 2018, FHA issued Mortgagee Letter 2018-06, requiring lenders that originate HECM loans to provide a second property appraisal if FHA determines that... Read More
HUD Seeks Public Comment on Study of Community Compass Technical Assistance Program Amid OIG Audit Finding that the Program Lacked Adequate Oversight
On September 27, 2018, HUD published a notice for public comment on a proposed study to be conducted with the Urban Institute to assess HUD’s... Read More
FDIC Seeks Information on Improving Communications
The FDIC issued a Request for Information (RFI) seeking information on the FDIC’s communication methods and related initiatives to promote efficiency and increase transparency. The... Read More
Major Ride-Sharing Company Settles with States over 2016 Data Breach
A major ride-sharing company reached an agreement with the attorneys general of all 50 states and the District of Columbia to pay $148 million and... Read More
FTC Enters Consent Orders with Companies that Falsely Claimed to be Certified Under the EU-U.S. Privacy Shield
The FTC entered into consent orders with four separate companies which falsely claimed to be certified under the EU-U.S. Privacy Shield framework, which governs the... Read More
Major Social Media Company Data Breach Exposes the Personal Data of Users
On September 28, a major social media company announced a significant data breach, which exposed the personal data of at least 50 million user accounts.... Read More
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