The Fate of the QM Patch

How can mortgage lenders best navigate the fine line between reducing the risk of lending to highly leveraged borrowers and making homeownership available to more people? Over the decades, the pendulum has swung between tight lending standards that are safer (but more restrictive) and looser standards intended to help first-time homebuyers, lower income borrowers, or those with student loan debt.

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November Compliance Roundup: Laying the Foundation for 2020

November was a relatively quiet month on the rules side, with only a couple of states making any changes of note. However, Fannie Mae is previewing its plans for early 2020, and between URLA and new ARM products, we expect to see several significant new regulations in the first quarter of the year. November was busy on the document update side, however.

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Mortgage Bankers Association’s Annual Show Recap

MBA’s  annual convention is the largest and most content-packed mortgage industry conferences of the year. This year’s event in Austin, Texas, was no exception.

For those of you who may have missed the conference, key themes were eClosing and the increasing the acceptance of eNotes, economic trends and secondary market issues.

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September Compliance Roundup: Taxpayer First Act, Md. Code Regs. 09.03.06 and Document Changes

September was a relatively quiet month from a rulemaking perspective. Only one state made changes to its regulations during the month that went beyond document changes. We saw nothing new from government agencies or investors.

We did make a few changes to our document library in September. Details are below. Remember that you will always be up to date, up to the minute, by following the posts in our compliance blog.

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Compliance News: July Recap

Summertime is a relatively slow time for lawmakers, and with most state governments in recess, we didn’t see any compliance-related changes coming out of the state houses in July. However, July was a surprisingly busy on the federal and investor compliance front. From changes at the GSEs to IRS and Social Security updates, lenders will need to account for new processes.

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Update: Uniform Residential Loan Application

For the past three years, Fannie Mae and Freddie Mac have been working together to create a uniform loan application for residential mortgage originators that will give them the data they need in a manner that’s easier for them to process. The effort was the first attempt by the GSEs to alter the standard mortgage loan application in 20 years.

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June 2019 Compliance Roundup

June saw a number of changes handed down by various government agencies, investors and one state government, some of which may result in changes to our system or document library. The details are here in our monthly compliance update blog post. To stay up to the minute, you can always find compliance information on our compliance blog

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May Compliance Roundup

We saw several states completing the lawmaking process in May, which may result in some changes to our system or document library. The details are here in our monthly compliance update blog post. You can always find up-to-the-minute compliance information on our compliance blog. Subscribe to the blog to be among the first to learn about all the industry’s most important compliance news.

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