HUD: Commemorating National Fair Housing Month 2021
The U.S. Department of Housing and Urban Development (HUD) today kicked off Fair Housing Month 2021. This year’s Fair Housing Month theme, Fair Housing: More Than Just Words, reflects the Biden-Harris Administration’s commitment to advancing equity in housing and the importance of increasing public awareness of everyone’s right to fair housing. “Fair Housing Month is a…
CFPB: 2020 HMDA Data on Mortgage Lending Now Available
Today, the Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2020 were published on the Federal Financial Institutions Examination Council’s HMDA Platform for approximately 4,400 HMDA filers. The published data contain loan-level information filed by financial institutions, modified to protect privacy. “HMDA data can help determine whether financial institutions are serving…
OCC: FFIEC’s 2021 “A Guide to HMDA Reporting: Getting It Right!” Issued
Summary The Office of the Comptroller of the Currency (OCC) is announcing the issuance of the Federal Financial Institutions Examination Council’s (FFIEC) revised “A Guide to HMDA Reporting: Getting It Right!”, which is designed to help banks comply with the Home Mortgage Disclosure Act (HMDA) and Regulation C, its implementing regulation (12 CFR 1003). The…
OCC: Report Shows Decline in Mortgage Performance for Fourth Quarter 2020
The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system declined during the fourth quarter of 2020. The OCC Mortgage Metrics Report, Fourth Quarter 2020 showed that 93.3 percent of mortgages included in the report were current and performing at the end of the quarter, compared…
Census Bureau: New Report Examines Homeownership in the United States from 2005 to 2019
The U.S. Census Bureau today released a new report that examines trends in homeownership over the last 15 years. The report, Homeownership in the United States: 2005 to 2019, is based on statistics from the American Community Survey (ACS). The report presents trends in homeownership at the national, state and county levels. For the first time ever, these…
FHFA: 4th Quarter 2020 Foreclosure Prevention and Refinance Report Released
More than 5.5 million homeowners helped since conservatorship The Federal Housing Finance Agency (FHFA) today released its fourth quarter 2020 Foreclosure Prevention and Refinance Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 362,912 foreclosure prevention actions in the fourth quarter of 2020, bringing the total number of homeowners who have been…
CFPB: Agency Clarifies that Discrimination by Lenders on the Basis of Sexual Orientation and Gender Identity is Illegal
Industry is on notice that Bureau will not tolerate illegal discrimination against the LGBTQ+ community Today, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule clarifying that the prohibition against sex discrimination under the Equal Credit Opportunity Act (ECOA) and Regulation B includes sexual orientation discrimination and gender identity discrimination. This prohibition also covers discrimination based…
CFPB: Delay of Mandatory Compliance Date for General Qualified Mortgage Final Rule Proposed
The Consumer Financial Protection Bureau (CFPB) today released a notice of proposed rulemaking (NPRM) to delay the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022. The CFPB is proposing to extend the compliance date to ensure homeowners struggling with the financial impacts of the…
FHFA: More than $1 Billion in Affordable Housing Funds Authorized
Largest amount ever disbursed to Housing Trust Fund and Capital Magnet Fund, more than double 2019 amounts FHFA Director Mark Calabria announced today that he has authorized the disbursement of $1.09 billion for Fannie Mae and Freddie Mac’s (the Enterprises) affordable housing allocations for 2020. This is the largest amount ever disbursed and more than…
CFPB: New Report Finds Over 11 Million Families at Risk of Losing Housing
Today, the Consumer Financial Protection Bureau (CFPB) issued a report that warns of widespread evictions and foreclosures once federal, state, and local pandemic protections come to an end, absent additional public and private action. Over 11 million families are behind on their rent or mortgage payments: 2.1 million families are behind at least three months…