FHFA announces increases in 2024 conforming loan limits
According to the FHFA, due to rising home values (up 5.56 percent since 2022), CLLs will be higher for all but five U.S. counties.
VA asks for foreclosure pause, extends Covid-19 Refund Modification program
The Department of Veterans Affairs hopes to delay foreclosures as it readies the launch of the VA Servicing Purchase program.
Mass. settles with rent-to-own company for unfair debt collection practices
The company agreed to pay $8.75 million and cease filing criminal complaints against customers as a debt collection tool.
CFPB and Fed release updated thresholds for Regulations Z and M
The dollar thresholds for both regulations were increased from $66,400 to $69,500, an increase of 4.6 percent.
HUD seeks comments on update to HECM policy
According to FHA, the proposal “… will support servicer liquidity and strengthen the HECM market for senior homeowners.”
HUD increases inspection fee limits for single-family homes
HUD requires federal mortgage holders to perform property inspections to determine “occupancy status, ascertain property condition and to maintain property preservation.”
FTC publishes letter to CFPB on its law enforcement and public outreach
The CFPB used the information in its annual report to Congress on the Fair Debt Collection Practices Act (FDCPA).
NYDFS introduces guidelines for virtual currency entities
The guidance adopts new requirements for coin-listing and delisting policies of DFS-regulated virtual currency entities.
Bank of England and FCA seek feedback on stablecoin regulatory proposals
The proposals would regulate stablecoins for future retail use while preventing money laundering and safeguarding financial stability.
CFPB releases report on state community reinvestment acts
The report finds that states play an active role in promoting reinvestment by institutions, but further review is necessary to understand these developments.
FHA updates guidance on sales comparison grid for manufactured homes
The update to the FHA’s rule affects how real estate appraisers will now appraise manufactured homes using the sales comparison approach (SCA) grid.
FSOC approves risk framework, nonbank determinations
FSOC adopted key changes in consideration of public comments on the analytic framework for financial stability risks and interpretive guidance on nonbank designations.
CFPB proposes rule to regulate fintech firms like banks
The rule would apply to firms offering services like digital wallets and payment apps and handling more than 5 million transactions per year.
New York AG report details racial disparities in homeownership
The report finds that Black and Latino New Yorkers are “underrepresented” among mortgage applicants and identifies policy solutions that could reduce these disparities.
DFPI announces enforcement actions for unlicensed debt collection activity
The California regulator found four debt collectors in violation of the Debt Collection Licensing Act and California Consumer Financial Protection Law.
California enacts requirements for digital asset businesses
New legislation establishes a licensing requirement for digital asset businesses and regulations for crypto kiosks.
Mortgage Call Report Updates: Get Ready!
Learn more about the NMLS Mortgage Call Report, Version 6 (FV6) and what you can do to prepare your company before the January 2024 deadline.
California enacts two privacy bills
The new legislation amends the California Consumer Privacy Act of 2018 and the California Privacy Rights Act (CPRA) of 2020.
California enacts new data broker regulations
Among other things, the California Privacy Protection Agency is authorized to create a streamlined method for consumers to delete their collected information.
Chopra foreshadows expanding oversight over digital payments
The CFPB director spoke at a digital payments event and provided steps that would increase oversight to help protect consumers.