Conventional Conforming Changes in the Primary Markets

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Posted To: Pipeline Press

Rumors continue about companies going out of business, scaling back, or being sold. But let’s talk about progress in pushing forward transitional licensing, and that the Senate passed a bill that would exempt 85 percent of banks and credit unions from certain regulatory requirements, according to a CFPB analysis of 2013 data. The package contained several MBA-supported priorities including: SAFE Act Amendments to create a transitional authority to originate loans, consumer protections for Property Assessed Clean Lending (PACE) loans, relief from HMDA reporting requirements for some institutions, and a partial fix to TRID. The Senate bill repeals many of the new reporting requirements, exempting small lenders making 500 or fewer mortgages a year from the expanded data disclosure. The Mortgage…(read more)

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