Home / Tag Archives: Dodd-Frank Reform Act (page 11)

Tag Archives: Dodd-Frank Reform Act

Financial Stability Oversight Council to Hold First Meeting

Tomorrow, Friday, October 1, Treasury Secretary Tim Geithner will host the Financial Stability Oversight Council's first meeting at the U.S. Department of the Treasury. Geithner is the chairperson of the Council. The meeting will include both a closed session and an open session, which begins at 2:30 p.m. EDT and will be streamed live on the Treasury's Web site.

Read More »

Fannie Mae Developing New Appraiser Requirements to Replace HVCC

Fannie Mae says it is working with the Federal Housing Finance Agency (FHFA) to develop and adopt new appraiser independence requirements that will replace the controversial Home Valuation Code of Conduct (HVCC) enacted by the GSEs in May of last year. Until the revised requirements are released, the existing HVCC provisions are still in effect. Fannie Mae says it expects the new appraisal rules to be issued by October 21, but that they will be ""substantially similar"" to HVCC.

Read More »

HUD Doles out Another $1B to Stabilize Hard-Hit Neighborhoods

HUD awarded an additional $1 billion Wednesday to state and county governments to help communities reverse the effects of the foreclosure crisis and assist with the cleanup of vacant homes. The grants represent the third round of Neighborhood Stabilization Program funding - which so far amounts to a total of $7 billion - earmarked for acquiring, redeveloping, or demolishing foreclosed properties. Recipients are able to take advantage of HUD's new REO ""First Look"" program with the nation's largest mortgage lenders.

Read More »

Regulators Unable to Provide Date for Banks’ SAFE Act Compliance

The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) stipulates that residential loan officers at banks, credit unions, and other federally regulated financial institutions must register their names and fingerprints with a national database. Financial institutions must establish procedures for compliance by October 1, 2010, but the deadline by which employees must be registered is unknown, ""because the necessary modifications to the registry have not been completed,"" according to federal officials.

Read More »

Dodd-Frank Reform Act Includes Stricter Rules for Appraisals

The Dodd-Frank Financial Reform Act includes new appraisal management rules as well as stricter laws and firmer penalties for lenders. The bill's appraiser independence standards will give lenders new options on managing appraisers, and lenders are scrambling to evaluate options to decide what will benefit their businesses. An October deadline is looming for the issuance of new appraiser independence rules, which are expected to be more stringent than the Home Value Code of Conduct (HVCC).

Read More »