mortgage servicing

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GRAPH OF THE WEEK: Mortgage Slowdown Cuts Origination Fees in Half

Income from mortgage originations and servicing were down from one year ago following slowdowns in sales and refinancing. Mortgage servicing fees declined 3.5% year-over-year among participants in Callahan & Associates’...

… Mortgage servicing sales allowed to FCUs

(Dec. 17, 2021) Finally, the board also approved a change to its investment regulation to allow FCUs to purchase mortgage servicing rights (MSRs) from other federally insured credit unions (FICUs,...

Budget, 3 final rules, on packed board agenda

(Dec. 10, 2021) The 2022 budget, and three final rules — on mortgage servicing rights, subordinated debt and the complex credit union leverage ratio — are among the items the...

Mortgage servicer ‘flexibility’ ceased

(Nov. 19, 2021) A flexible approach is ended for supervision and enforcement of certain mortgage servicing timing requirements initiated in spring, 2020, NCUA, federal and state banking and credit union...

Board agrees to consider finalizing three rules

(Sept. 24, 2021) Earlier in the meeting, the NCUA Board voted – 2-1, with Harper the “no” vote – to act on three outstanding proposed rules over the span of...

3 key summaries take on latest NCUA issuances

(Aug. 20, 2021) Summaries of three recent issuances from NCUA – on capitalizing loans, the rollout of the new examination tool, and on mortgage servicing rules – were published by...

Alert urges review of mortgage servicing rules

(July 30, 2021) Credit unions should review a June 30 rule temporarily amending certain mortgage servicing requirements under the Consumer Financial Protection Bureau’s (CFPB) Regulation X to assist borrowers affected...

BRIEFLY: CFPB updates mortgage servicing FAQs; Written, specific direction needed on use of alternative data, GAO tells regulators

(June 4, 2021) Frequently asked questions (FAQs) about mortgage servicing were updated this week by the CFPB, concerning escrow account compliance under Regulations X and Z (RESPA and TILA, respectively)....

CFPB outlines plan to keep tabs on mortgage servicers

(April 9, 2021) Following its proposed rules to prevent “avoidable foreclosures,” the bureau later in the week released a new bulletin detailing its expectations for mortgage servicers’ engagement with borrowers...

Loan participations temp rule extended; 3 FCU proposals issued

(Dec. 18, 2020) In other action at Thursday’s meeting, the NCUA Board issued one final rule and three proposed regulations – with three of those approved on split votes after...