Industry News

A marketing automation software provider has published a new white paper outlining why and how credit unions can thrive in home finance business.

In its new whitepaper, “The Keys to Credit Union Success in Mortgage,” Intuvo details how credit unions can win more mortgage business and outlines the key benefits of a strong mortgage lending program.

Read on for details from Intuvo’s recent report.

Eighty-two percent of Realtors donate money to charitable causes every year, compared with the national average of 56.6 percent of Americans who do so, according to a new report from the National Association of Realtors (NAR).

The Community Aid and Real Estate (CARE) Report provides insight on the monetary and volunteer contributions that general members at-large, broker-owners and association executives of Multiple Listing Services (MLS) give to society.

Read on for details from the CARE Report.

As expected, Kathy Kraninger was confirmed by the Senate Thursday to become the Consumer Financial Protection Bureau’s (CFPB) second full-time director.

She will be in charge of the bureau for five years, following Richard Cordray’s four-year stint from 2013 through his resignation in November 2017.

Read on for reaction from the National Association of Realtors (NAR) and other industry trade groups  on the confirmation, which will end the one-year tenure of acting director Mick Mulvaney.

The Financial Crimes Enforcement Network (FinCEN) and its regulatory partners have issued a joint statement to encourage banks and credit unions to take innovative approaches to combating money laundering, terrorist financing and other illicit financial threats.

FinCEN, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA) and the Office of the Comptroller of the Currency (OCC), say adopting new technologies can enhance the effectiveness and efficiency of Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance programs.

Read on for more details from the joint statement.

Kathy Kraninger has pledged to fulfill the Consumer Financial Protection Bureau’s (CFPB) mission of protecting consumers of financial products and services in a fair and transparent manner. 

The Senate voted Thursday to clear a final procedural hurdle to confirm the former associate director for the Office of Management and Budget (OMB) as the CFPB’s second full-time director, setting her up for a final vote next week. 

Read on to hear more from Phil Schulman, partner at Mayer Brown.

The Fed may be looking at relaxing Community Reinvestment Act (CRA) regulations, but the vast majority of bank lenders believe complying with CRA requirements should continue to be a key part of mortgage lending, according to a recent Stratmor Group survey. 

Ninety-five percent of banks that participated in the survey of CRA and Low to Moderate Income lending stated they have a strong internal focus on the CRA. 

Read on for more details from the survey.

The Office of the Comptroller of the Currency (OCC) received plenty of input on whether reforms are needed to the Community Reinvestment Act (CRA).

The National Association of Realtors (NAR) commented on the need to expand access to residential mortgage credit for low- and moderate-income homebuyers, as well as borrowers of color.

Read on for more details from NAR’s comment letter, as well as another proposed change submitted by the American Bankers Association (ABA).

The holiday season is officially upon us. How can title agents show their appreciation to partners, affiliates and clients while remaining RESPA-compliant?

RESPA News spoke with Marx Sterbcow, one of the nation’s top RESPA attorneys, on the dos and don’ts of RESPA-compliant gift-giving.

Read on for a refresher on what holiday gifts are considered a “Thing of value” under RESPA Section 8, and what items generally are safe to spread the holiday cheer.

It’s been nearly one year since then-Consumer Financial Protection Bureau (CFPB) Director Richard Cordray resigned and appointed whom he believed would be his successor.

Cordray appointed Leandra English as deputy director, while President Donald Trump instead named Mick Mulvaney as acting director.

Read on to learn how the CFPB acting director battle played a role in Matthew G. Whitaker being named the new acting Attorney General under the Federal Vacancies Reform Act.

Ten years after the housing crisis, mortgage firms are seeing better profits, increased customer satisfaction and lower delinquencies.

However, this favorable economic environment will not last forever, so now is the right time to implement uniform servicing data standards before the next crisis hits.

That’s according to a new paper from the Urban Institute in Washington, D.C. Read on for details on the proposed benefits of uniform standards, including lower servicing costs.