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The mortgage industry was caught off guard by regulators’ decision to cease special treatment for Fannie Mae and Freddie Mac in complying with underwriting rules. But how big of an impact will the new policy have?
July 28 - cuj daily briefing lead
Credit unions often tout their member-friendly nature but recent coverage of how the movement handled taxi medallion loans could open the industry up to a reputational hit.
June 3 -
Recent letters from NAFCU and CUNA called on the Consumer Financial Protection Bureau to provide a carve out in its payday lending rule for loans made by credit unions.
May 16 -
The bureau had already proposed removing the underwriting portion of the rule, but a judge in Texas has indefinitely delayed the other key component as well.
March 22 -
The industry cheered the bureau’s proposed repeal of its ability-to-repay requirement, but another part of the rule — on account debit restrictions — was left intact, and some companies aren’t ready to comply.
March 6 -
The industry cheered the bureau’s proposed repeal of its ability-to-repay requirement, but another part of the rule — on account debit restrictions — was left intact, and some companies aren’t ready to comply.
March 4 -
As required by the Dodd-Frank Act, the bureau released long-awaited "look-back" reviews to assess the impact of mortgage underwriting and servicing rules on the industry and the credit markets.
January 10 -
The Financial Choice Act contains many positive reforms for community banks, but a provision affording benefits for holding loans on balance sheet poses risk for small lenders.
June 21Offit Kurman