Mortgages, Home Buyer

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

FHFA Asks for Input on FHLBanks

Brownstein Hyatt Farber Schreck on 6/14/2024

In May 2024, the Federal Housing Finance Agency (FHFA) published a Request for Input (RFI) titled “Federal Home Loan Bank Core Mission Activities and Mission Achievement” with comments due to the FHFA on July 15, 2024. This...more

CFPB Seeks to Prevent Algorithmic Bias in Automated Home Valuation Models

Sheppard Mullin Richter & Hampton LLP on 3/8/2022

On February 23, the CFPB outlined a proposal for upcoming joint rulemaking to prevent algorithmic bias in automated home valuation models (AVMs). Here, the CFPB is specifically focused on the potential for AVMs to pose fair...more

Who Loses When Hacked Emailed Send Wire Transfers to the Wrong Account?

Gray Reed on 9/28/2018

Excited about closing on his new house, Furst Thyme Byer received emailed wire transfer instructions for his full $250,000 payment from his broker Chad at Chase N Rainbows Realtors. ...more

Privacy Tip #155 - Home Buyers Tricked Out of Down Payments by Scammers

Robinson+Cole Data Privacy + Security Insider on 9/11/2018

An old trick is coming back and working. It is a wire fraud scheme targeted at homeowners instead of businesses, and it is happening at an alarming rate....more

Ctrl Alt Delete: CFPB says Mortgage Servicers Need Technological Reboot

Burr & Forman on 6/30/2016

The Consumer Financial Protection Bureau (CFPB) released a special edition of its supervision report, honing in on mortgage servicers on June 22nd. It blamed outdated technology and process breakdown for trends it has seen...more

Transitional period and initial supervisory practice over TRID

Ballard Spahr LLP on 10/13/2015

The CFPB sent industry trade groups a letter on October 1, 2015 to address the approach of the FFIEC member agencies during the initial months following the implementation of the TILA-RESPA Integrated Disclosure (TRID) rule...more

House Passes Bill to Delay TRID

Ballard Spahr LLP on 10/12/2015

On October 7, 2015, the U.S. House of Representatives passed a bill that would provide a safe harbor from the new TILA/RESPA Integrated Disclosure (TRID) rule for a period of five months. By a vote of 303 to 121 the House...more

Wells Fargo Ends Marketing Services Arrangements with Builders

Bilzin Sumberg on 8/11/2015

Concerned about “increasing uncertainty surrounding regulatory oversight of these types of arrangements,” Wells Fargo is ending all of its roughly 200 mortgage marketing services and desk rental agreements with builders and...more

CFPB updates home buying information booklet

Ballard Spahr LLP on 4/2/2015

The CFPB has issued an updated version of the home buying information booklet (also known as the special information or settlement cost booklet) required under RESPA and TILA. The new booklet is entitled “Your home loan...more

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