FHFA Hikes Fees for High Balance and Second Home Loans


On January 5, 2022, the Federal Housing Finance Agency implemented additional upfront fees for some high-balance and second-home loans sold to Fannie Mae and Freddie Mac. Fees for high-balance loans will rise by 0.25% to 0.75%, depending on the loan-to-value ratio. The upfront fees [...]

Section 1071 of the Dodd-Frank Act: A New Regulatory Chapter for Lenders


As the Consumer Financial Protection Bureau (CFPB) is preparing to begin drafting regulations to implement section 1071 of the Dodd-Frank Act, lenders look forward to a new regulatory chapter in the industry, resulting in significant new reporting requirements fair lending examinations and potential enforcement [...]

CFPB Warns Servicers: “Unprepared is Unacceptable”


You are a servicer if you possess a private mortgage note and handle the servicing (collection of payments) yourself. These guidelines and enforcement operations apply to you. If you'd prefer to delegate that responsibility to someone else, contact us today, and we'll take care [...]

What Lenders Need to Know about Social Media in 2022


In a recent interview with Michael Stallings, the Vice President of Comergence, he said, "The social media landscape is always changing. What matters to originators is to ensure that they keep calm and don't just jump to the next shining platform in the social [...]

How Lenders Can Serve the Underserved In 2022


The lending market is evolving again, and this time around, the industry and its players must respond to new regulations effectively. The Government of the United States has made it plain that lenders will be entrusted with helping the underrepresented communities in the country [...]

Are Lenders Prepared for the Future’s Challenges?


Today's home mortgage market is characterized by a unique collection of circumstances that have accumulated on top of one another. This has created a level of strain and urgency that has never been seen before, bringing a perceptible "heat" to every sector of the [...]

Mortgage Delinquency Rate Continues to Shrink Directly


Since the pandemic hit in late 2019, mortgage delinquency has dropped drastically, with the lowest being experienced lately. However, borrowers and lenders are still going through several financial challenges. As of August 2021, about 4% of mortgages in the United States were delinquent for [...]

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