About 10,000 people attended the Congressional Black Caucus Foundation’s 48th Annual Legislative Conference in Washington, D.C.
The Sept. 13 event highlighted declining African-American homeownership, gentrification and creative solutions for those issues, according to the National Association of Realtors.
Read on for details about the conference, which was co-hosted by the National Association of Real Estate Brokers.
The U.S. Department of Housing and Urban Development (HUD) has been busy cracking down on fair housing violations.
On Sept. 11, HUD charged a Florida law firm and its owners with targeting Hispanic families in a predatory mortgage scheme. Advocate Law Groups of Florida’s commercials promised Hispanic homeowners to cut their mortgage payments in half.
Read on to hear details about other recent violations, including settlements for sexual harassment and lead-based paint infractions.
A lawsuit challenging the constitutionality of the Consumer Financial Protection Bureau (CFPB) may be headed to the U.S. Supreme Court.
A Texas-based community bank, a senior advocacy group and a non-profit public policy think tank have petitioned the high court to rule on a 2012 lawsuit making a case for the abolishment of the bureau and every regulation enacted by it.
Read on for the latest details from the petition.
The Financial Crimes Enforcement Network (FinCEN) has announced permanent relief from beneficial ownership requirements for certificate of deposit (CD) rollovers and loans that renew automatically.
FinCEN previously had issued a 90-day temporary and limited exceptive relief to covered financial institutions from the obligations of the Beneficial Ownership Rule.
Read on to learn why stakeholders requested the permanent relief.
The National Credit Union Administration (NCUA) has issued new examination procedures to field staff regarding customer due diligence and beneficial ownership provisions that are part of the Bank Secrecy Act/Anti Money Laundering Rules (BSA/AML).
NCUA will consider a credit union’s good-faith effort to comply with the new rules as it conducts examinations, the regulator stated.
Read on to see the new exam expectations, which include new procedures that will be incorporated into the Federal Financial Institutions Examination Council (FFIEC) Bank Secrecy Act/Anti-Money Laundering Examination Manual.
Two long-term Federal Deposit Insurance Corporation (FDIC) veterans have been appointed to key leadership positions.
Arleas Upton Kea will serve as the deputy to the chairman and chief operating officer (COO), and Arthur Murton was named deputy to the chairman for policy.
Read on to see what other changes are in store for the FDIC, which also announced several other senior personnel moves, including a new deputy to the Chairman for External Affairs.
The Washington State Department of Financial Institutions (DFI) has adopted its proposed Rule Amendments to the Consumer Loan Act (CLA) concerning mortgage servicing.
The amendments include: new rules on borrower requests for information, loss mitigation, foreclosure and escrow. Other new rules deal with limiting offshore collection, and defining investor and note holder so they can be specifically exempted from oversight.
Read on for details on the new rules, which took effect Sept. 1.
Ten years ago, the Federal Housing Finance Agency (FHFA) placed Fannie Mae and Freddie Mac into conservatorship once the housing crisis hit.
The FHFA called it a necessary move to help restore confidence in government-sponsored enterprises (GSEs) and reduce market risk.
Read on to learn what National Association of Realtors (NAR) President Elizabeth Mendenhall has to say about the anniversary, and why NAR supports sustainable, long-term GSE reform.
The Section 184 Indian Home Loan Guarantee Program continues to operate without adequate oversight three years after a prior audit, according to a new review by the U.S. Department of Housing and Urban Development (HUD) Office of Inspector General (OIG).
OIG previously had determined that the Office of Loan Guarantee (OLG) did not provide adequate oversight of the program.
Read on to learn why the program was at risk.
A mortgage lender’s Information Technology team is instrumental to driving a company’s business objectives.
But all too often, the IT team is left in the dark about a company’s goals until it’s too late.
Read on to hear why Stratmor Group CEO Lisa Springer says everyone wins when business and IT are in sync with one focus, and how Business Level Agreements (BLAs) can drive IT performance.
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