In an effort to address confusion over the “valid-when-made” doctrine, which prevents loan interest rates from being altered after changing hands, the Office of the Comptroller of the Currency (OCC) is seeking industry input on a proposed rule on the matter. With the proposed rule, OCC hopes to clarify that when a national bank or … Read more

Revealing that the agency’s Mutual Mortgage Insurance Fund reached a 12-year high for Fiscal Year 2019, the Federal Housing Administration instilled optimism in the mortgage industry with its Annual Report to Congress. The report also highlights continued improvements in the struggling reverse mortgage marketplace and an increase in the small percentage of mortgages with multiple … Read more

The five federal financial regulatory agencies recently published a final rule intended to simplify implementing regulations of Section 13 of the Bank Holding Company (BHC) Act, commonly known as the Volcker Rule. The final rule revises numerous provisions of the Volcker Rule, intended to provide clarity and streamline compliance obligations based on trading assets and … Read more

For financial institutions that employ loan originators with temporary origination authority, the Consumer Financial Protection Bureau (CFPB) published a new interpretive rule regarding applicable screening and training requirements. The rule is intended to clarify provisions of an amendment to the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act, as amended by the Economic Growth, … Read more

The third-quarter drop in new-home sale prices was the biggest since at least 2012 and the third consecutive quarterly decline. Read on for more details.