The standardized form is used by borrowers to apply for a mortgage loan. Also, your compliance question answered and legal briefs from the federal landscape.
Fannie Mae and Freddie Mac will limit future mortgage acquisitions to loans that meet the requirements for a qualified mortgage. This new development takes effect in January.
Northwest credit union lenders are concerned the CFPB’s Qualified Mortgage Rule will have the unintended consequence of squeezing Americans out of home ownership. The House Financial Services Subcommittee on Financial Institutions heard testimony from the credit union movement this week.
The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac are issuing new guidelines to their mortgage servicers to standardize short sale practices that will go into effect Nov. 1.
The Federal Housing Finance Agency announced changes to the Home Affordable Refinance Program to attract more underwater borrowers who could benefit from refinancing their home mortgages.