Monday, April 29, 2019

Latest Mortgage Loan and Research News

New York Launches Its Own Consumer Protection Finance Bureau 
The NYDFS announced Monday that it is creating a new division that will focus on consumer protection and financial enforcement. The new division combines the previously separate Enforcement and Financial Frauds and Consumer Protection divisions into one entity. According to the NYDFS, the new Consumer Protection and Financial Enforcement Division will focus on “protecting and educating consumers and fighting consumer fraud, as well as ensuring that regulated entities comply with New York and federal law in relation to their activities serving the public.” The division will also work to develop “investigative leads and intelligence” that aid in the NYDFS’ efforts to enforce the state’s banking, insurance, and financial services laws; will focus on cybersecurity events; and will also aid in the development of new supervisory, regulatory, and enforcement policies. Read More at Housing Wire

Residential Mortgage Default Forecasting: How Much Do Price Trends Matter?
Buyers who buy at a peak of the price cycle and subsequently face significant price declines are much more likely to default, regardless of personal circumstances with respect to employment, life trigger events, or credit rating status. Equity cushion is a critical element in default forecasting models, along with accurate valuations at the time of purchase and mortgage underwriting. Read More at Collateral Analytics.

No comments:

Post a Comment