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ClosingCorp Targets CFPB Ruling With New Offering
Dec 23, 2013

ClosingCorp is providing lenders with compliance tools to meet the newest Consumer Financial Protection Bureau (CFPB) rule by allowing them to generate reports listing local counseling agencies within its SmartGFE service. This loan applicant report will become a lender requirement by Jan. 10, 2014. The latest SmartGFE functionality will save lenders time as well as keep them in compliance. The list of housing counseling agencies is approved by the Department of Housing and Urban Development (HUD). These agencies can offer potential borrowers advice about whether the mortgage loan terms are a good fit for them based on their individual goals and financial situation. Housing counseling services are typically available to consumers at little or no cost. “Lenders want to provide borrowers with all the information they need to make educated decisions about loan terms because it translates into solid, performing loans,” said Brian Benson, ClosingCorp CEO. “Giving lenders the capability to run this report within the SmartGFE service provides a level of convenience and confidence that the information is accurate without having to switch between systems.”
Dec 23, 2013
Feds Reviewing Appraisal Standards, Qualifications

Appraisal Subcommittee said requirements are being reviewed to determine whether they ensure and promote fairness, equity, objectivity, and diversity, in both appraisals and in the training and credentialing of appraisers.

Regulation and Compliance
Oct 20, 2021
​​​​​​​FHFA OK's Desktop Appraisals, Expands Refi Criteria

The Federal Housing Finance Agency (FHFA) said Monday it will take two steps to help make home ownership more affordable and sustainable for mortgage borrowers, especially for those in underserved communities. 

Regulation and Compliance
Oct 19, 2021
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