The Consumer Financial Protection Bureau (“CFPB”) has proposed a rule modifying Regulation B, which implements the federal Equal Credit Opportunity Act (“ECOA”) to update its provisions on disparate impact, applicant discouragement, and special purpose credit programs. Comments on the proposed rule will be accepted through December 15, 2025. Learn More
The Federal Housing Finance Agency (“FHFA”) has announced a 3.26% increase in baseline conforming loan limits and high-cost area loan limits for 2026 to reflect the rise in average U.S. home prices. Read More
On October 29, 2025, a federal judge issued an injunction in Forcht v. CFPB, which will indefinitely delay enforcement of the Consumer Financial Protection Bureau’s (“CFPB’s”) Personal Financial Data Rights Rule (“the Rule”). Read More
As we have previously discussed in articles highlighting the CFPB’s activities over this last year, the new administration has prioritized deregulation and increased efficiency and dramatically scaled back the agency’s supervision and enforcement work. Read More
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Compliance Term of the Month
Defalcation
Defalcation is the theft, misuse, or misappropriation of funds held by a fiduciary. Many forms of conduct qualify as defalcation, including both the misallocation of funds and the failure to account for funds received. In the mortgage lending industry, it is more specifically used to refer to the misuse or misdirection of funds held in escrow by a title insurance agent. Notably, defalcation does not require the same level of intent as fraud, and therefore encompasses conduct like poor accounting which may not be intentional.
In an unanticipated move today, the FHA announced via an FHA INFO communication that it will waive its requirement to provide Form HUD-92900-B, titled Important Notice to Homebuyers, set forth in the Single Family Housing Policy Handbook 4000.1. Read More
Vermont’s “High-Rate / High-Point Law” (Title 9 V.S.A. § 104, Regulation B-98-2) determines the threshold for a “high-rate” mortgage loan based on the annual interest rate for underpayment or overpayment of taxes set by the Vermont Commissioner of Taxes each year. Read More
DocMagic will soon update our default selection logic to return the 2015 TRID-version of the Settlement Service Provider Shopping List (Form ID: ADSYCSF.MSC) with TRID loans, rather than the prior GFE-aligned version of the list (Form ID: SSPL.GFE). Read More
In order to keep DocMagic software users better apprised of document changes and additions as they occur, DocMagic posts listings of all newly created and revised documents. Here is the list of forms created or modified in November 2025.To view all New/Revised Documents, click here. Read More
Complimentary
Upcoming Event
Meet with us at the SoCal CUREN December Meeting!
Meet with Ron Carrillo, Business Development Manager at the SoCal CUREN December meeting on Tuesday December 9th from 4-8pm at Kinecta Federal Credit Union Manhattan Beach/El Segundo.
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