This memorandum does not address residential mortgage lending topics; however, it will be of interest to our FDIC-supervised...
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Read articles below for analysis and discussion of recent trends by BM&G’s industry experts.
VA Changes to Qualified Mortgage Loans
On May 24, 2018, the “Protecting Veterans from Predatory Lending Act” (“VA Act”) was signed into law, effective as of that date,...
FHA Updated Guidance on HECM Claim Type 22 (CT-22) Assignment Requests (ML 2018-08)
This memorandum is for clients that originate FHA HECM reverse mortgages. On October 22, 2018, the FHA issued Mortgagee Letter...
CFPB Supervisory Highlights, Summer 2018
The following excerpts are taken from the CFPB’s Summer 2018 edition of its Supervisory Highlights published in the October 18,...
CFPB Publishes 2018 Glossary of English-Spanish Financial Terms
The CFPB has published an updated English-Spanish Glossary of Financial terms, click here, in cooperation with other federal...
FHA Requires Second Appraisal for Certain HECMs (ML 2018-06)
This memorandum is for clients that originate FHA HECM reverse mortgages. On September 28, 2018, the FHA issued Mortgage Letter...
CFPB Request for Comments and Information Regarding the CFPB’s Data Governance Program and its Data Collections
In the September 28, 2018, issue of the Federal Register (83 FR 49072, click here), the CFPB published a request for information...
CFPB Bulletin 2018-01: Changes to Types of Supervisory Communications
On September 25, 2018, the CFPB (the Bureau) issued Bulletin 2018-01 (click here) to announce changes to how it communicates...
Rural Housing Service (RHS) Proposed Rule to Amend Regulations for the Direct and Guaranteed Single Family Housing Loan and Grant Programs
In the August 31, 2018, Federal Register (83 FR 44504, click here), the RHS issued a proposed rule (Proposed Rule) to amend its...
CFPB Issues HMDA Interpretive Rule
In the September 7, 2018, issue of the Federal Register (83 FR 45325, click here), the Consumer Financial Protection Bureau...