CFPB Issues Rule to Implement and Clarify New HMDA Amendments

CFPB Issues Rule to Implement and Clarify New HMDA Amendments

Written By: Joel Palmer, Op-Ed Writer

The Consumer Financial Protection Bureau (CFPB) has issued a ruling to clarify a key provision of the Economic Growth, Regulatory Relief, and Consumer Protection Act. Section 104(a) of the law, signed by President Trump in May, amended the Home Mortgage Disclosure Act (HMDA). This section was designed to decrease the HMDA compliance burden for smaller institutions.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

What Do Mortgage Underwriters and Processors Currently Earn?

What Do Mortgage Underwriters and Processors Currently Earn?

Written By: Joel Palmer, Op-Ed Writer

Mortgage underwriters are averaging annual salaries between $52,000 and $74,000, while mortgage processors are typically earning average salaries between $36,000 and $46,000.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

Fannie No Longer Requires Market Conditions Addendum

Fannie No Longer Requires Market Conditions Addendum

Written By: Joel Palmer, Op-Ed Writer

Mortgage underwriters and processors have one less form to manage on Fannie Mae loans. As part of its latest Selling Guide updates, Fannie announced that it is not longer requiring Form 1004MC. This was Fannie’s Marketing Conditions Addendum.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

FHFA Tables Credit Score Initiative

FHFA Tables Credit Score Initiative

Written By: Joel Palmer, Op-Ed Writer

After spending months assessing and asking stakeholders for input, the Federal Housing Finance Agency (FHFA) has put on hold an initiative to change credit scoring models used by Fannie Mae and Freddie Mac.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

CFPB Implements New HMDA Reporting Rules Contained in S. 2155

CFPB Implements New HMDA Reporting Rules Contained in S. 2155

Written By: Joel Palmer, Op-Ed Writer

The Consumer Financial Protection Bureau (CFPB) announced earlier this month that it is implementing the changes to the Home Mortgage Disclosure Act (HMDA) that were part of the recently passed Economic Growth, Economic Growth, Regulatory Relief, and Consumer Protection Act. The FDIC released a similar statement.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

Pass the word on passwords - 5 tips to keeping yourself safe

Pass the word on passwords - 5 tips to keeping yourself safe

Written by: Nick Allen, FileInvite Op-Ed Writer

In the current environment of leaks, phishing and hacked passwords, keeping  access to your systems secure is paramount. Take the following as a preliminary check for..


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

Freddie Mac Opens Automated Appraisal System to Eligible Condo Mortgages

Freddie Mac Opens Automated Appraisal System to Eligible Condo Mortgages

Written By: Joel Palmer, Op-Ed Writer

Freddie Mac is making condominium purchases and refinances available for an automated appraisal waiver, joining fellow GSE Fannie Mae, which started the practice more than a year ago. Freddie Mac made the announcement last week. Its automated collateral evaluation (ACE) will accept eligible condo loans beginning Monday, July 16.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

Report Blames Regulation for Increasing Housing Costs

Report Blames Regulation for Increasing Housing Costs

Written By: Joel Palmer, Op-Ed Writer

Almost one-third of the cost for the average multifamily development project is spent on complying with local, state and federal regulations. For about a quarter of apartment complex projects, the cost of regulations now accounts for more than 42 percent of the overall development cost.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

Default Index Shows Ability-to-Repay Rules Working for Mortgage Lenders

Default Index Shows Ability-to-Repay Rules Working for Mortgage Lenders

Written By: Joel Palmer, Op-Ed Writer

For all the criticism it has received from the financial sector and from many in Congress and the White House, the Consumer Financial Protection Bureau can claim that at least one of its initiatives has helped both consumers and mortgage lenders — at least according to one industry measure.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.

Fannie Sees Positive Signs for Housing

Fannie Sees Positive Signs for Housing

Written By: Joel Palmer, Op-Ed Writer

Leading housing indicators suggest a busy upcoming season for mortgage processors and underwriters, according to the latest outlook from Fannie Mae, despite what the GSE called a lackluster first quarter.


Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.