Author Archive | Josh Kogler

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HUD STREAMLINES RENT REGULATIONS

WASHINGTON – In an effort to reduce the administrative burden on state and local governments, public housing authorities and private owners of HUD-assisted multifamily properties, the U.S. Department of Housing and Urban Development (HUD) today posted on its website for advanced review a forthcoming new rule to ease its regulatory requirements under a number of […]

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CFPB Alerts Companies About Obtaining Consumer Authorization For Recurring Auto Debits

WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) issued a bulletin alerting companies that they must obtain authorization before automatically debiting a consumer’s account. The bulletin also reminds companies that they are required by law to provide notifications to consumers that clearly describe the terms of preauthorized auto debits. In addition, the Bureau […]

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FHA ISSUES NEW MULTIFAMILY HANDBOOK

WASHINGTON – The Federal Housing Administration (FHA) today published a new consolidated handbook to guide lenders on underwriting all FHA-insured multifamily housing construction and rehabilitation transactions. FHA’s new MAP Guide offers a new operating manual for multifamily underwriting through the Multifamily Accelerated Processing program. Read FHA’s new updated MAP Guide. FHA’s new Multifamily MAP Guide is […]

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CFPB Sends Industry Letter on Know Before You Owe Mortgage Disclosure Rule Compliance

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) yesterday sent a letter to mortgage industry trade groups regarding the Know Before You Owe mortgage disclosure rule, which becomes effective October 3. The rule, also called the TILA-RESPA Integrated Disclosure rule, requires easier-to-use mortgage disclosure forms that clearly lay out the terms of a mortgage […]

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FHA EASES CONDOMINIUM PROJECT APPROVAL REQUIREMENTS

WASHINGTON – The Federal Housing Administration (FHA) today published new guidelines under its condominium approval process intended to increase affordable housing options for first-time and low- to moderate-income homebuyers.  Effective immediately, FHA’s temporary guidance will streamline the agency’s condominium recertification process and expand the eligibility of acceptable ‘owner-occupied’ units to include second homes that are […]

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Prepared Remarks of CFPB Director Richard Cordray at the Mortgage Bankers Association Annual Convention

Thank you for inviting me today.  As we continue to emerge from the Great Recession, the housing market is finally rebounding in many areas around the country.  It is a very positive development, one that is good for consumers, good for the mortgage industry, and good for the United States of America.  Just to be […]

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FHA’S 2015 ANNUAL REPORT SHOWS CAPITAL RESERVES NOW EXCEED 2%

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 stands at 2.07 percent—the first time since 2008 that FHA’s reserve ratio exceeded the […]

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CFPB Releases “Planning for Retirement” Tool to Help Consumers Decide When to Claim Social Security

CFPB Report Shows Many Consumers Base Critical Claiming Decision on Limited Information WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released “Planning for Retirement,” an interactive, online tool designed to help consumers decide when to claim their Social Security retirement benefits. According to a report released by the CFPB, many older Americans are […]

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