In the News

MCB is pleased to exhibit current news articles that are informative and relevant to services we provide for both real estate and financial business solutions.

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HUD SECRETARY CASTRO ANNOUNCES PUBLIC HOUSING TO BE SMOKE-FREE

WASHINGTON – U.S. Housing and Urban Development (HUD) Secretary Julián Castro today announced that public housing developments in the U.S. will now be required to provide a smoke-free environment for their residents. In an address to local public housing officials, residents and public health professionals in Boston, Secretary Castro said HUD’s new rule will provide […]

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FHA’S 2016 ANNUAL REPORT SHOWS CONTINUED GROWTH OF CAPITAL RESERVES

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today released its annual report to Congress on the financial condition of the Federal Housing Administration’s Mutual Mortgage Insurance (MMI) Fund. The independent actuarial analysis shows the MMI Fund’s capital ratio grew by $3.8 billion and now stands at 2.32 percent—the second consecutive year […]

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FHA TO LOWER OWNER-OCCUPANCY REQUIREMENT FOR CERTAIN CONDOMINIUM DEVELOPMENTS

WASHINGTON – The Federal Housing Administration (FHA) today announced that, under certain circumstances, it will lower its required owner-occupancy standard for approved condominium developments effective immediately. FHA currently requires that approved condominium developments have a minimum of 50 percent of the units occupied by owners. However, the agency determined this requirement can be lowered to […]

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CFPB Unveils Consumer Credit Trends Tool to Help Forecast Potential Consumer Risks

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today unveiled Consumer Credit Trends, a web-based tool to help the public monitor developments in consumer lending and forecast potential future risks. The beta version of the tool covers the mortgage, credit card, auto loan, and student loan markets. The first Consumer Credit Trends release shows […]

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CFPB Orders TransUnion and Equifax to Pay for Deceiving Consumers in Marketing Credit Scores and Credit Products

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today took action against Equifax, Inc., TransUnion, and their subsidiaries for deceiving consumers about the usefulness and actual cost of credit scores they sold to consumers. The companies also lured consumers into costly recurring payments for credit-related products with false promises. The CFPB ordered TransUnion and […]

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HUD New Mortgagee Letter

This Mortgagee Letter (ML) communicates that Mortgagee Letter 2017-01, reducing Mortgage Insurance Premiums for loans with Closing/Disbursement date on or after January 27, 2017, has been suspended indefinitely. FHA will issue a subsequent Mortgagee Letter at a later date should this policy change. https://portal.hud.gov/hudportal/documents/huddoc?id=17-07ml.pdf

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Consumer Financial Protection Bureau Unveils New Know Before You Owe Auto Loans Shopping Sheet

Washington, D.C. – Today the Consumer Financial Protection Bureau (CFPB) is unveiling an “auto loan shopping sheet,” a step-by-step guide, and additional online resources as part of a new Know Before You Owe initiative aimed at helping consumers shop for an auto loan. The shopping sheet helps consumers see the total cost of a loan […]

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CFPB Unveils Student Loan ‘Payback Playbook’ to Provide Borrowers With Personalized Snapshot of Repayment Options

WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) unveiled the student loan Payback Playbook, a set of prototype disclosures that outline a path to affordable payments for borrowers trying to avoid student debt distress. The Payback Playbook provides borrowers with personalized information about their repayment options from loan servicers so they can secure […]

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