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MBA Files Comment Letter on Risk Retention
Oct 26, 2013

The Mortgage Bankers Association (MBA) has sent a letter to six regulators responding to the re-proposed Risk Retention rule. In particular, MBA expressed strong support for aligning the Qualified Residential Mortgage (QRM) definition with Qualified Mortgage (QM) and also thanked the regulators for eliminating the Premium Capture Cash Reserve Account (PCCRA). MBA strongly opposes the alternative approach whose 30 percent downpayment requirement and onerous credit history standards would have restricted access to credit and raised costs on low to moderate income and first-time homebuyers, as well as minority borrowers. Click here to view a copy of the MBA's letter.
Oct 26, 2013
CFPB Names 4 To Key Senior Positions

The appointees include two who helped create the bureau and two who served on the CFPB staff during the Obama administration.

Regulation and Compliance
Oct 14, 2021
FHFA Raises Enterprises' Multifamily Loan Purchase Caps

The Federal Housing Finance Agency (FHFA) said the 2022 multifamily loan purchase caps will be $78 billion for each Enterprise, for a combined total of $156 billion to support the multifamily market.

Regulation and Compliance
Oct 13, 2021
CFPB Hits AAG With Complaint For Deceptive Marketing Of Reverse Mortgages

The Consumer Financial Protection Bureau filed a complaint and proposed consent order, which alleges that American Advisors Group (AAG) used inflated and deceptive home estimates to attract reverse mortgage consumers.

Regulation and Compliance
Oct 12, 2021
Waterstone Mortgage Names VP Of Compliance

Waterstone Mortgage Corporation named Kris Barros as the company's vice president of compliance.

Oct 08, 2021
Battling The ‘Giant Purple Snorklewacker’

The confirmation of Rohit Chopra as CFPB director has the mortgage industry anxious, but former MBA CEO David Stevens offers some advice: follow the rules.

Regulation and Compliance
Oct 08, 2021
The Compliance Contradiction

Staunch compliance stances often lead to contradictory actions.

Regulation and Compliance
Oct 06, 2021