Freddie Mac PMMS: Mortgage rates down for second week running

Nov 12, 2008

OTS issues bulletin on the prevention of discriminatory lendingMortgagePress.comOffice of Thrift Supervision, Thrift Bulletin 25a, HMDA The Office of Thrift Supervision has issued Thrift Bulletin (TB) 25a, which addresses the prevention of discriminatory lending practices. TB 25a reminds thrift institutions to assess, at least annually, policies, procedures, lending activity and data (including written underwriting standards and practices implementing them) directed towards preventing discriminatory lending practices. The bulletin further advises that thrift institutions should use "internal analysis" to identify issues that might arise in the analysis of Home Mortgage Disclosure Act (HMDA) data. Institutions should be prepared to provide pricing and decisioning methodologies to address HMDA reporting issues. TB 25a rescinds TB 25. For a copy of TB 25a, click here.

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Nov 12, 2008

Regulation and Compliance

Mortgage Servicers Added To Junk-Fee Naughty List

New release from CFPB lays out areas of improvement, and concern, for mortgage servicers.

The Consumer Financial Protection Bureau (CFPB) today published new supervisory highlights describing the regulator's recent actions to combat junk fees charged by mortgage servicers, as well as other illegal practices. The CFPB has also announced that it is working to addre...

Analysis and Data

Every Dollar A Fraudster Makes, A Financial Firm Loses $4.41

U.S. investment firms and credit lenders see a 9% annual increase in the financial impact of fraud.

Overall fraud increased at least 6% for 63% of financial firms within the past year, with digital channels accounting for half of the overall fraud losses, according to LexisNexis True Cost of Fraud Study: Financial Services and Lending Report — US and Canada Edition. U....