(TheNicheReport.com) — As a follow up to a meeting between Marc Savitt of NAIHP and Richard Cordray of the CFPB held January 26, 2012, The National Association of Independent Housing Professionals has formally sent a letter to Richard Cordray, Director of the Consumer Financial Protection Bureau, outlining and exposing unintentional consequences created by HVCC and the [...]
How many times do brokers need to say, they never developed a single-loan program, wrote guidelines for those same programs, or underwrote and approved any consumer’s mortgage? (TheNicheReport.com) On July 21, 2010, Congress sent the final version of the Dodd-Frank Act to the President for signature. Surrounded by then Senator Chris Dodd and [...]
The Federal Housing Finance Agency (FHFA) is Regulator to Fannie Mae, Freddie Mac and the Federal Home Loan Banks. The agency was created on July 30, 2008, as part of the Housing and Economic Recovery Act of 2008, replacing the Office of Federal Housing Enterprise Oversight (OFHEO). Congress believed OFHEO failed to properly [...]
During the past three years, housing industry professionals, especially mortgage brokers, loan originators and appraisers, have experienced an onslaught of new rules, regulations and legislation. These so-called safeguards were designed to protect consumers. This article will take a closer look at some of these “protections,” to determine the true consequences for consumers and the [...]
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