Lenders, Stay Alert | Sophisticated Spear Phishing Mortgage Scams On the Rise

As an appraisal management company, Janus is particularly interested in helping our clients maintain regulatory compliance and helping them avoid potential pitfalls. As cybercrime becomes more prevalent and harder to defend against, both borrowers and lenders have to keep a critical eye on all communications and transactions. Most recently, spear phishing attacks targeting mortgage closures Read More

CFPB’s Interim Final Rule | Mortgage Servicers’ Communication with Borrowers at Risk of Foreclosure

On October 4 the Consumer Financial Protection Bureau (CFPB) issued an interim final rule to give mortgage servicers more clarity surrounding communication restrictions and requirements when conveying information to borrowers. This rule, and a second proposed rule, modify previously standing mortgage servicing amendments from 2016. Under the Fair Debt Collection Practices Act passed in 2016, Read More

MBA Backs Bipartisan Flood Insurance Market Parity and Modernization Act

The House of Representatives recently voted 264-155 in favor of the Flood Insurance Market Parity and Modernization Act, which aims at increasing flood insurance options for private property owners. The bill has gathered bipartisan support, sponsored by Reps. Dennis Ross (R-Florida) and Kathy Castor (D-Florida), and even an endorsement from the Mortgage Bankers Association (MBA). Read More

National Association of Realtors to Congress on Tax Reform: “Do no harm”

On September 14th, chair of the National Association of Realtors’ Federal Taxation Committee, Iona Harrison, testified before the Senate Finance Committee on tax reform. While Harrison was adamant that the National Association of Realtors (NAR) supports tax reform, she cautioned that misguided changes to mortgage interest deductions could raise taxes for middle-class homeowners and potentially Read More

Lingering Confusion Over 2017 TRID Rule | What We Know

The Consumer Financial Protection Bureau published a modified TRID rule on August 11, 2017. Despite an open comment period during which industry participants were able to seek clarification on specific provisions of the new rule, many compliance stakeholders have been left with few answers and a growing dissatisfaction with the explanation of key aspects of Read More

Mortgage Bankers Association Releases Official Statement on Hurricanes Harvey & Irma

As Houston homeowners begin to assess the full extent of property damage caused by Hurricane Harvey, Florida homeowners are reeling from the impact of Hurricane Irma. With historic rainfall and wind speeds, many are at a loss when it comes to how to start moving forward. Homeowners have been cautioned to use good judgement when Read More

Property Valuations Uncertain in Post-Harvey Houston

In the wake of Hurricane Harvey, home and business owners must now deal with the storm’s impact on property values. Although there are a number of factors which suggest the Houston market could absorb the shock differently, several studies on past flood events have shown that values of affected homes “typically drop by at least Read More

Stormy Weather? What’s Next for the National Flood Insurance Program

As 2017’s hurricane season reaches its peak and Congress gets back to work following a month-long recess, many are wondering what fate awaits the National Flood Insurance Program (NFIP), which is due for renewal at the end of September. The NFIP, which is managed by FEMA, was created by Congress in 1968 to balance the Read More

August Regulatory Reform Update – SAFE Act Amendments Make Progress

Summer, particularly August, is typically quiet in Washington as both the House and Senate break for summer recess. Nevertheless, Congress has continued to move in its efforts to bring about changes to financial regulations. Specifically, bills were recently introduced in both the House and Senate aimed at amending provisions of the Secure and Fair Enforcement Read More

The ABCs of AMCs

Ask just about anyone and they’ll likely tell you that buying a house is stressful. Certainly, it’s the largest single purchase most Americans make. In addition to the expense, the process requires a great deal of time, not to mention completing seemingly endless amounts of paperwork when applying for a mortgage and during closing. Because Read More

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