CFPB-CUNA
Mortgage Industry Trends

Cordray Cozies Up to Credit Unions

If you weren’t sure, you now know who wasn’t responsible for the financial crisis of 2008. According to Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB), it wasn’t the Credit Unions. I guess it was those unscrupulous Independent Mortgage Bankers, the Mortgage Brokers and the Banks (of all sizes), along with their affiliates, that all contributed to the…

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3-percent-down-is-back
Mortgage Industry Trends

The Race to the Bottom

No, it’s not a new undersea adventure to raise the Titanic or find some long lost sunken treasures, it’s the movement by the Agencies and FHA to provide low down payment financing to first-time and low-to-moderate income home buyers. About a year ago, both Fannie and Freddie announced the reinstatement of their 3% down payment loan programs. This was done…

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HUD-Budget-2017
Mortgage Compliance

Some Impacts for Mortgage Lenders in HUD’s FY 2017 Budget Proposal

HUD recently announced the specific details of its proposed Fiscal Year 2017 Budget. This is part of the President’s overall Fiscal Year 2017 Budget Plan that was just submitted to Congress. In reviewing HUD’s proposed 2017 Budget, there are some items that will be of particular interest to mortgage lenders.  Some examples are as follows: HUD is requesting from Congress…

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