Hugh Frater, the former CEO of Fannie Mae, will resign from his position on the board of Better Home and Finance if Vishal Garg returns to Better in any executive capacity, according to the company.
Ten Democratic state attorneys general are suing the OCC over rules tied to federal preemption of state mortgage escrow laws, arguing that the rules exceed the limits that the Dodd-Frank Act places on OCC’s ability to preempt state consumer protection laws
It’s critical for lenders to be able to identify which credit score model was used when they transmit loan data to a private MI, @USMI_Info’s Seth Appleton said. The key is integrating the technology with the new guidance tied to PMIERs.
The FHLBanks already purchase mortgages through their Acquired Member Assets programs, but CHLA is concerned that, without appropriate supervision, the banks could develop new mortgage-purchase activities without any review of the risks.