On July 16, 2021, the Federal Housing Finance Agency (“FHFA”) announced the elimination of the “Adverse Market Refinance Fee” it instituted to cover projected losses as a result of the COVID-19 pandemic.

Just as interest rates were starting to trend upwards, the Federal Finance Housing Agency announced RefiNow, a new refinance option targeted for low-income borrowers with Enterprise-backed single-family mortgages.

CFPB issues notice of proposed rulemaking- Mortgage Servicing Changes to prevent wave of COVID-19 foreclosures.

On January 26, 2021, President Biden issued a memorandum to the Secretary of Housing and Urban Development (HUD). Its stated purpose is to affirm the policy of the Biden Administration to address and eliminate racial bias and other forms of housing discrimination.

Whether you vote red, blue, green, coffee or not at all, and regardless of whether you are happy, unhappy, or indifferent with regards to the outcome of the election, you can always advocate at both the national and state level for issues impacting our industry.

On December 28th, 2020, the Federal Housing Finance Agency (FHFA), the conservator for Fannie Mae and Freddie Mac (the GSEs), issued a request for input (the RFI) on appraisal-related policies, practices and processes for loans to be deliverable to the GSEs.

We know that understanding Texas unique homestead laws can be confusing, even tiresome. And every situation is unique. But here are some of the basic concepts, explained.

On December 10th, the Consumer Financial Protection Bureau (CFPB) announced two final rules to complete its planned revisions to the TILA ability-to-repay (ATR) rule.

Does an executive order giving Federal employees a day off constitute a legal public holiday for the mortgage industry?

On October 1st, the Consumer Financial Protection Bureau (CFPB) published an assessment of the TRID Integrated Disclosures Rule (TRID). The Dodd-Frank Act requires the CFPB to assess each ‘significant rule’ created by the Dodd-Frank Act and to publish the results of the assessment within five years of the rule’s effective date.

On September 14th, the CFPB announced the eighth in a series of consent orders with mortgage lenders after investigations uncovered alleged deceptive advertising directed to military service-members and veterans.

Fall in Texas heralds cooler temperatures and the notorious property tax bills.

On July 24th, the CFPB announced plans to issue an advance notice of proposed rulemaking later this year implementing a section of the 2010 Dodd-Frank Act regarding consumer access to financial records held by, among others, residential mortgage lenders.

On July 15th, the CFPB filed suit against a non-bank lender based in Chicago, alleging violations of the Equal Credit Opportunity Act; its implementing regulation, Regulation B; and the Consumer Financial Protection Act.

“This year’s Insiders represent the unsung heroes of their companies; the team that, behind the scenes, kept everything on track during unprecedented times.” - Kelsey Ramírez, HousingWire Magazine Editor

The CFPB announced two separate notices of proposed rulemaking to address the coming expiration of TILA qualified mortgage (QM) status for the ‘GSE Patch.

Texas has a well-established history of protecting homestead property from creditor claims. Woven into the Texas Constitution is a declaration that homestead property is protected from forced sale for the payment of all debts except for in a few instances, making Texas one of the most protective homestead states in the United States. See Tex. Const. Art. XVI, Section 50(a).

Occasionally we have seen investors or lenders place conditions on loans to be purchased, specifically requesting to mark sub-section (H) “Riders” of the Texas single-family Fannie Mae/Freddie Mac Uniform Instrument, Form 3044, Deed of Trust, to indicate that a Renewal and Extension document has been attached as a rider.