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Read articles below for analysis and discussion of recent trends by BM&G’s industry experts.
FHA Mortgagee Letter 2022-17 Rental History for First-time Homebuyers
On September 27, 2022, FHA issued the above Mortgages Letter (ML 2022 -17) to provide guidance to lenders regarding the...
Texas Mortgage Loan Servicer Renewal Period; TDSML Fee Increases
Texas Mortgage Loan Servicer Renewal Period This section of the memorandum is to make Texas Mortgage Loan Servicers more aware...
HUD Issues Mortgagee Letter 2022-14 (ML 2022-14) Requiring UEIs
On August 23, 2022, HUD issued ML 2022-14 requiring all lenders and Mortgagees approved for FHA Title I and/or Title II...
CFPB Issues Circular 2022-04 Insufficient Data Protection or Security for Sensitive Consumer Information
On August 11, 2022, the CFPB issued the above Circular 2022-04 ( herein “Circular”) in which the CFPB answers the question “Can...
FDIC Makes Technical Corrections to 12 CFR §338.4(b) and Part 343 Appendix A
In the August 8, 2022, issue of the Federal Register (87 FR 48079) the Federal Deposit Insurance Corporation (FDIC) made...
Regulation Implementing the Adjustable Interest Rate (LIBOR) Act
In the July 28, 2022, issue of the Federal Register (87 FR 45268) the Federal Reserve Board (“Board”) published a proposed...
CFPB Advisory Opinion “Fair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports”
In the July 12, 2022, issue of the Federal Register (87 FR 41243) the CFPB published the above Advisory Opinion (the “Opinion”)...
Mortgagee Letter 2022-09 Update for COVID-19 Related Economic Event
On July 7, 2022, the Federal Housing Administration (FHA) issued updated Mortgagee Letter 2022-09 (ML 2022-09) that will allow...
Joint Financial Regulatory Agencies Amend Business Day Definition in §153.1(2) of the Home Equity Lending Interpretations.
In the July 8, 2022, Texas Register (47 TexReg 3969), the Finance Commission of Texas and the Texas Credit Union Commission...