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Legal News | December 14, 2018

Who watches the Watchmen? Former senior FDIC employee found guilty of stealing confidential bank documents

HousingWire--Ben Lane

The Federal Deposit Insurance Corp. is one of the nation’s top banking regulators, but one of the agency’s former senior employees faces 20 years in jail for stealing confidential documents from the world’s largest banks while trying to get a job at those very same banks.

According to the U.S. Attorney’s Office for the Eastern District of New York, Allison...

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Agency | GSE News | December 14, 2018

HUD Final Rule: Streamlining Warranty Requirements for Federal Housing Administration Single-Family Mortgage Insurance: Removal of the Ten-Year Protection Plan Requirements


Office of the Assistant Secretary of Housing—Federal Housing Commissioner, HUD.


Final rule.


This final rule streamlines the home warranty requirements for FHA single-family mortgage insurance by removing the regulations that require borrowers to purchase 10-year protection plans in order to qualify for certain mortgages on newly constructed single-family homes. This action conforms with the changes...

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Industry News | December 14, 2018

State of the Foreclosure Market

DSNews--Radhika Ojha

Servicers of some of the largest banks in the U.S. initiated 28,508 new foreclosures during the third quarter of 2018, according to the Office of the Comptroller of Currency's (OCC's) Mortgage Metrics report. This marked a 3.7 percent quarter-over-quarter decrease and a 16.8 percent decline from a year ago.

Home forfeiture actions during the quarter that included...

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Webinar: Agency and Regulatory Reporting Essentials

Industry News | December 13, 2018

TRID 2.0 Hot Topic: Disclosing with the “Best Information Reasonably Available”

HousingWire--Jacob Gaffney

Mortgage Quality Management and Research sent out its bi-weekly frequently asked questions paper Thursday morning, this time addressing TRID 2.0, as it pertains to disclosing with the “Best Information Reasonably Available.” 

Here's is that answer to the latest compliance hot topic.


Can property taxes and other charges paid to third party service providers for services not required by...

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Agency | GSE News | December 13, 2018

Freddie Mac Optimize the prices for your loan sales and improve your mortgage execution for your customers

Believe in Home Embrace the vision. Shape the future.

Looking for a seamless way to improve the liquidity of your mortgage business and sell your loans for cash? Striving to provide your customers with the best possible execution to meet their homebuying or refinance needs? Take advantage of Freddie Mac’s competitive automated cash execution, available through Loan...

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ACES Intelligent Questionnaires

Legal News | December 13, 2018

New York shuts down mortgage lender

Housingwire--Jacob Gaffney

Here's a first for LendingLife readers: The New York State Department of Financial Services last month issued a cease and desist order against Long Island, New York-based mortgage banker Franklin First Financial.

The list of no-no’s at the company is long: inaccurate balance sheets, substantial lead generation payments to employees in an effort to dodge LO comp restrictions, transferring of funds to private businesses...

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Agency | GSE News | December 13, 2018

FHFA - Notice of Proposed Rulemaking : Validation and Approval of Credit Score Models

Validation and Approval of Credit Score Models

Open Date: Open for comment 12/13/2018 

Deadline:  All comments are due by TBD

Type: Notice of Proposed Rulemaking

Number: RIN-2590-AA98

Group: Fannie Mae; Freddie Mac

CFR: 12 CFR Part 1254

CFR Description: Validation and Approval of Credit Score Models

View Document: Download Validation and Approval of Credit Score Models Proposed Rule 

321.07 KB

Contact Information:

FOR FURTHER INFORMATION CONTACT:  Beth Spring, Senior Policy Analyst, Housing &...

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