CFPB Issues Final Rule Regarding Revisions to Privacy Act Implementation
The CFPB issued a final rule that makes limited revisions to the CFPB’s regulations that establish the procedures used by the public to obtain records... Read More
Federal Regulatory Developments
GNMA Issues Periodic Maintenance and Miscellaneous Announcements APM
In their recent All Participant Memorandum (APM) Ginnie Mae implemented several minor changes to the MBS Guide, 5500.3, Rev-1, to more clearly state its policies... Read More
Fannie Mae Releases DU Version 11.0 Sept. Update
Fannie Mae will implement an update to Desktop Underwriter® (DU®) Version 11.0 during the weekend of September 18, 2021. The changes in this release include... Read More
CFPB Issues Technical Specifications for Credit Card Agreement and Data Submissions
The CFPB recently issued a notification of technical specifications and procedural rule, related to requirements under TILA and the CARD Act for credit card issuers... Read More
CFPB Reports on Pandemic Challenges for Mortgage Servicers and Borrowers
The CFPB recently published a report on mortgage servicer data reflecting COVID-19 pandemic related challenges for both borrowers and servicers. The data in the report... Read More
Fannie Updates LL-2021-03: Impact of COVID-19 Originations
In LL-2021-03, Fannie Mae updated its policies previously published in LL-2020-03. Effective immediately, Fannie is retiring the age of documentation and market-based asset policies that... Read More
CFPB Issues Juneteenth Guidance
The CFPB recently published an interpretive rule that attempts to provide guidance on the impact of the Juneteenth holiday on certain 2021 transactions around the... Read More
Agencies Extend Credit Risk Retention Regulations Review Period
The OCC, Federal Reserve Board, FDIC, SEC, FHFA, and HUD (the agencies) recently extended the period for review and subsequent publication of the determination of... Read More
FHA Revises Handbook 4000.1
In the latest Handbook 4000.1 Transmittal, FHA announced multiple updates that include, but are not limited to, the following highlights: Section I: Clarifying Mortgagee approval policies... Read More
FHA Announces Waivers to the Review Requirements for COVID Advance Loan Modification
On August 5, 2021, the FHA issued the following waivers: (1) Partial Waiver of the Borrower Review Requirements for its COVID-19 Advance Loan Modification; and... Read More
FDIC Proposes Rule to Simplify Deposit Insurance for Trust Accounts
The FDIC recently published a notice of proposed rulemaking (NPRM) that would amend the regulations governing deposit insurance for trust accounts and mortgage servicing accounts. ... Read More
Fed Issues Final Rule Amending Regulation D
The Federal Reserve recently amended its Regulation D, Reserve Requirements of Depository Institutions. The amendment, which became effective July 23, 2021, revised the rate of... Read More
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