Final Rule to Ensure Credibility and Integrity of Automated Valuation Models: Today, the National Credit Union Administration (NCUA), Federal Reserve Board, Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA), and Office of the Comptroller of Currency (OCC) issued a final rule, pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, designed to help ensure the credibility and integrity of models used in valuations for certain mortgages secured by a consumer's principal dwelling
CFPB Proposes Rule for Mortgage Servicers: On July 10, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule to amend 2013 regulations regarding the responsibilities of mortgage servicers. CFPB Publishes Open Banking Standard Setter Process: On July 10, the CFPB also published its Personal Financial Data Rights (Open Banking) process for applying to become a standard setter as a part of Section 1033 of the Dodd-Frank Act in Appendix A. FFIEC Publishes 2023 Data on Mortgage Lending: On July 11, the Federal Financial Institutions Examination Council (FFIEC) released its Snapshot National Loan-Level Data which contains the national HMDA datasets as of May 1, 2024. Federal Reserve Releases Distressed and Underserve Communities List: The Federal Reserve recently released their list of distressed and underserved non-metropolitan counties in its oversight of performance by banks under to the requirements of the Community Reinvestment Act. Comments are closed.
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The PulseThe Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information. Archives
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