Déjà vu: CFPB Structure Again Found Unconstitutional
Once again, a federal court has found the CFPB’s structure to be unconstitutional. The Fifth Circuit U.S. Court of Appeals found the funding mechanism, whereby the CFPB is funded from appropriations from the Federal Reserve, violates the U.S. Constitution's required separation of powers. Learn More
On October 13, the CFPB, together with the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System, posted the annual adjustment to appraisal requirements for higher-priced mortgage loans. Read More
The US Department of Housing and Urban Development (“HUD”), Office of Housing, recently published a Proposed Rule in the Federal Register that would establish a framework to transition away from LIBOR... Read More
Compliance Term of the Month
A software application used for securing, storing, and managing digital assets such as an eNote, eMortgage, or other mortgage loan documents.
As noted in previous articles, Fannie Mae and Freddie Mac published new versions of their Uniform Instruments in July 2021, with a required use date as of January 1, 2023. DocMagic moved to the new versions of standard conventional documents... Read More
On October 31, 2022, the Internal Revenue Service (“IRS”) published a new version of Form 4506-C. Form 4506-C allows cleared and vetted Income Verification Express Service participants to request tax return information... Read More