NRMLA submitted comments to federal regulators requesting an exemption for reverse mortgages from a proposed regulation that establishes new flood insurance escrows for “forward” mortgages.
NRMLA asked the CFPB to delay further implementation of a proposed regulation that would require reverse mortgage companies to submit HMDA data until concerns raised by the industry are addressed.
On September 18, the Supreme Court of Nevada held that Nevada law gives a homeowners’ association (“HOA”) a super-priority lien on an individual homeowner’s property for up to nine months of unpaid HOA dues.
NRMLA submitted comments last week to the Department of Housing and Urban Development supporting the Federal Housing Administration’s proposed Loan Quality Assurance Methodology.
The Consumer Financial Protection Bureau updated its reverse mortgage consumer guide to include information on initial disbursement limit restrictions and non-borrowing spouse protections.
The CFPB announced it was taking preliminary steps to expand the types of loan data that financial institutions must report under the Home Mortgage Disclosure Act.
The Consumer Financial Protection Bureau, on January 10, published revised examination guidelines for Mortgage Originators and Servicers.
The CFPB has published a regulatory notice, effective January 1, 2014, that clarifies the definition of “amount of credit extended” for purposes of calculating loan originator compensation.
NRMLA submitted two sets of comments to federal regulators last week, one dealing with appraisals for “higher-risk mortgages” and the other with loan officer compensation.
James McCarthy, who helps manage the Consumer Financial Protection Bureau’s complaint resolution portal, conducted a presentation for the Board of Directors last week.