Headlines

The final rule is the result of recommendations of a 2010 report from the Government Accountability Office; stakeholders and HUD program participants who had asked for clarification, technical assistance, better compliance, and more meaningful outcomes; and feedback from significant public input and comments received during the final rule's development.

Non-partisan seniors advocacy group 60 Plus Association, Inc., and several other groups and individuals have filed amicus briefs in the U.S. Court of Appeals for the District of Columbia Circuit on behalf of Perry Capital, the plaintiffs in a dismissed lawsuit against the government regarding the sweeping of GSE profits into Treasury.

Document preparation service GuardianDocs, a division of Denver, Colorado-based domestic-based end-to-end mortgage services provider LenderLive Network, is seamlessly integrated with Calyx Software, a Dallas, Texas-based mortgage solutions provider for banks, credit unions, mortgage bankers, and brokers, according to an announcement from LenderLive Network.

The first hearing, titled "Dodd-Frank Five Years Later: Are We More Stable?" will begin Thursday, July 9, at 10 a.m. Eastern time. The second hearing, titled "Dodd-Frank Five Years Later: Are We More Prosperous?" is scheduled for July 28. The date of the third hearing in the series, titled "Dodd-Frank Five Years Later: Are We More Free?" will be announced later, according to the Committee.

Cloud-based data exchange provider NetDirector, headquartered in Tampa, Florida, has announced the launch of an integration with the Default Managing Reporting System (DMRS) of Fannie Mae, according to an announcement from NetDirector.

Aged foreclosure inventory, which is comprised of residential mortgage loans in active foreclosure that are at least two years delinquent, has seen significant improvement in the last seven months, according to Black Knight Financial Services' May 2015 Mortgage Monitor released Monday.

Increasing home values have played a role in reducing foreclosure inventory, since homeowners who either have little equity or are underwater tend to have higher default rates. Nothaft said homeowners underwater by 20 percent or more had a default rate that was four times that of homeowners with a current LTV ratio of 80 percent.

National Appraisal Congress (NAC) has announced the formation of the Society of Young Appraisal Professionals, an NAC subcommittee focused on addressing the declining workforce in the residential valuation space. The new subcommittee's focus will be on actively recruiting, educating, and promoting apprentice appraisers and on brainstorming ideas and developing solutions to help appraisers who have been in the valuation space for five years or less.

The U6 unemployment rate, which counts both people without work seeking full-time employment and those workers "marginally attached to the labor force and those working part-time for economic reasons," dropped 0.3 percentage points month over month down to 10.5 percent and is down from 12.1 percent in June 2014.

The Bureau reported as of June 1, 2015, it has handled more than 627,000 complaints from the time it opened its doors in July 2011. According to the CFPB, about 28 percent of those complaints have been mortgage-related, making it the category with the largest share (debt collection was second with 25 percent). The Bureau says it forwards the complaints to companies and works to get a response, typically within 15 days.