On Thursday, the U.S. Senate confirmed Jonathan Gould as head of the Office of the Comptroller of the Currency (OCC) in a 50-45 vote. The confirmation marks another Trump administration appointee who supports more lenient oversight of the banking sector and a more welcoming stance toward cryptocurrency. Gould previously held roles at the OCC during […]
Trade groups applaud Jonathan Gould’s confirmation to OCC Read More »
A group of banking and mortgage associations is trying to get the U.S. Supreme Court‘s attention due to constitutional concerns about the state of New York’s Foreclosure Abuse Prevention Act (FAPA). Friedman Vartolo LLP announced on Monday that it has filed an amicus curiae brief with the Supreme Court on behalf of five of the
Groups petition Supreme Court over New York foreclosure statute Read More »
Senate Republicans on Tuesday advanced President Donald Trump’s sprawling “Big Beautiful Bill” in a last-second flurry that required Vice President JD Vance to cast a tie-breaking vote. All 47 Senate Democrats voted against the bill, with Republicans Susan Collins, retiring Thom Tillis and Libertarian deficit hawk Rand Paul joining them. The bill now goes back
Housing industry cheers Senate passage of the ‘Big Beautiful Bill’ Read More »
The U.S. House of Representatives unanimously passed the Homebuyers Privacy Protection Act (H.R. 2808) late Monday, bringing a national ban on abusive trigger leads one step closer to reality. The move was widely applauded by mortgage trade groups. The House’s action follows the U.S. Senate’s approval of a similar bill (S. 1467) on June 13.
House passes abusive trigger leads ban Read More »
While the Federal Housing Finance Agency (FHFA) under President Joe Biden proposed a transition from a tri-merge to a bi-merge credit report system, the Mortgage Bankers Association (MBA) is now assessing the feasibility of moving to a single credit report for mortgage underwriting. Bob Broeksmit, president and CEO of the MBA, wrote in a blog
MBA, FHFA explore single credit report for mortgages Read More »
Mortgage applications decreased by 3.9% for the week ending May 30, according to data from the Mortgage Bankers Association (MBA). On an unadjusted basis, the index fell 15% during the week marked by the Memorial Day holiday. But economists and loan officers say the year-to-date landscape looks much better. “Mortgage applications decreased over the week,
Mortgage demand dips over holiday but keeps yearly momentum Read More »
After embarking on an ambitious project designed to ease the technological processes and interfaces of the reverse mortgage industry compared to traditional mortgage workflows, the Mortgage Industry Standards Maintenance Organization (MISMO) announced this week that the latest version of its reference model includes reverse mortgage features. On Tuesday, MISMO announced that the new version has
New MISMO reference model includes reverse mortgages Read More »
Since the new administration took over in January, government agencies have systemically rolled back federal diversity, equity, and inclusion initiatives, with the Trump administration framing the move as a way to cut costs and eliminate waste. The Mortgage Bankers Association (MBA), the largest mortgage trade group, removed several webpages related to diversity, equity, and inclusion,
Mortgage Bankers Association removes DEI pages from website Read More »
Frin left to right: Moderator Devin Norales, and panelists Max Slyusarchuk, Jeremy Schneider, Peter Simon and Rudy Orman address the audience at the Mortgage Bankers Association’s Secondary and Capital Markets Conference in New York on May 19, 2025. Politics, marketing and organic growth within the borrowing public are providing momentum to non-qualified mortgage businesses, leading
Non QM reaps benefits from policy, market discipline: execs Read More »
John Toohig stood at a podium as the moderator of a panel about home equity lines of credit (HELOCs) and asked an illustrative question of the audience of mortgage professionals. “How many of you have a mortgage first lien, 30-year with a 4% coupon or lower?” A majority raised their hands. “You are all the
Competition for HELOC business heats up as home equity grows Read More »
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