Government

CFPB charged Townstone Financial Inc. with violating the Equal Credit Opportunity Act. Click through to read more.

Maxine Waters, Chairwoman of the House Committee on Financial Services, said previously the rule would give funding to institutions that were active in Opportunity Zones without ensuring they benefited the communities.

The FHFA announced that the 30-59 day and serious delinquency rate saw increases.

This was the third consecutive month that it has issued more than $60 billion in mortgage backed securities. However, Ginnie Mae’s outstanding balance also reported an increase.

The Director of the Federal Housing Finance Agency said Fannie Mae and Freddie Mac must be well-capitalized to support the market during a stressed environment.

The Administrations said its proposals are designed to strengthen the servicers’ ability to “keep families experiencing financial challenges in their homes.”

Project REACh is designed to increase access to credit and capital for underserved communities. Click through to read more.

Next week, the House Committee on Financial Services will discuss how mortgage servicers have implemented the CARES Act. Also coming are reports by the U.S. Census Bureau and the NAHB.

Auction.com provided information on how the new regulations will benefit property preservation companies and help grow CWCOT to more than 90%.

The Federal Housing Finance Agency (FHFA) announced that the GSEs—Fannie Mae and Freddie Mac—will extend several loan origination flexibilities until August 31. These flexibilities were set to expire on July 31, 2020. Extended flexibilities include: Alternative appraisals on purchase and ...