Skip to main content

Mortgage Cadence adds Tim Counterman to its ranks

National Mortgage Professional
Nov 17, 2008

Fed approves revision to Regulation C to improve HMDA data reportingMortgagePress.comFederal Reserve, HMDA, Regulation C, APR The Federal Reserve Board (Fed) has approved final amendments to Regulation C that revise the rules regarding the reporting of price information for higher-priced mortgage loans. These amendments intend to collect more accurate and useful information under the Home Mortgage Disclosure Act. Under Regulation C's current provisions, lenders must collect and report the rate spread between the annual percentage rate (APR) on a mortgage loan and the yield on Treasury securities if the spread is greater than three percentage points for a first-lien mortgage loan, or five points on a subordinate-lien loan. Under the revised rule, lenders must collect and report the rate spread between the loan's APR and an "average prime offer rate" if the spread meets or exceeds 1.5 percentage points for a first-lien loan, or 3.5 points for a subordinate-lien loan. The average prime offer rate is a survey-based estimate of APRs currently offered on prime mortgages of a comparable type. The Fed will publish average prime offer rates based on the Primary Mortgage Market Survey currently published by Freddie Mac. The final rule will become effective Oct. 1, 2009. For a copy of the Federal Register notice, click here.
Published
Nov 17, 2008
Zillow: Black Mortgage Applicants Denied 84% More Often Than White

Zillow recently analyzed data from the Home Mortgage Disclosure Act and found that Black mortgage applicants are denied a mortgage 84% more often than white applicants.

Analysis and Data
Jan 13, 2022
Mortgage Economic Review January 2022

The Mortgage Economic Review is a monthly summary of Key Economic Indicators, Data, and Events pertinent to Mortgage and Real Estate Professionals.

Analysis and Data
Jan 13, 2022
Fairway Independent Mortgage Corp. Puts Employees' Health First

Fairway Independent Mortgage continues to allow its employees to choose whether to return to the office or not.

Industry News
Jan 12, 2022
First American Agrees To Acquire Mother Lode Holding Co.

Acquisition would expand First American’s footprint in 11 states

Industry News
Jan 12, 2022
Steven J. Sless Group Of PRMI Appoints New Retail Production Manager

The Steven J. Sless Group of Primary Residential Mortgage named Greg Pahel as retail production manager, overseeing consumer direct reverse mortgage production.

Reverse
Jan 12, 2022
loanDepot Wholesale Upgrades mello Broker Portal

loanDepot Wholesale will introduce new upgrades to its mello®Broker Portal to further streamline the closing process for brokers and settlement agents.

Tech
Jan 12, 2022