TheMReport — News and strategies for the evolving mortgage marketplace.
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12 | TH E M R EP O RT FROM THE SOURCE Knowledge WHY LIA? The Largest Provider of E&O Insurance to AMCs in the U.S. SINCE 1977 POLICIES SPECIFICALLY DESIGNED FOR AMCS COMPETITIVELY PRICED COVERAGE NATIONWIDE COVERAGE WITH "A" RATED COMPANIES STATE AMC BONDS WITH NO ADDED FEES Contact Susan Lomeli Susan@liability.com Ph: (800) 334-0652 X 139 Fax: (805) 962-0652 www.liability.com CA License #0764257 Administrators & Insurance Services LIA_AMC_Print_Ad_Knowledge_2.2917x9.125.indd 1 2/11/15 7:18 PM READ THIS: THE POWER AND INDEPENDENCE OF THE FEDERAL RESERVE By: Peter Conti-Brown Legal scholar and financial historian Peter Conti-Brown provides an in-depth look at the Federal Reserve's place in government, internal government, and relationships to the President of the U.S., Congress, economists, and bankers to show that much of the common wisdom about the nation's central bank is inaccurate. SHARE THIS: FREDDIE MAC'S UPDATED HOME POSSIBLE INCOME & PROPERTY ELIGIBILITY TOOL http://www.freddiemac.com/homepossible/ Freddie Mac is offering an updated Home Possible Income & Property Eligibility Tool which allows lenders to determine if a borrower meets the income requirements for a low down payment mortgage on a specific property. The map-based Home Possible Income & Property Eligibility tool allows lenders to check for borrower eligibility for a high LTV loan for a property by simply entering that property's address. WATCH THIS: OVERVIEW OF THE CFPB'S FINAL HMDA RULE YouTube.com/user/CFPBVideo This video provides an overview of the Home Mortgage Disclosure Act (HMDA) final rule issued by the Consumer Financial Protection Bureau (CFPB) on October 15, 2015. The HMDA requires many financial institutions to maintain, report, and publicly disclose information about mortgages. It was originally enacted in 1975, and the Dodd- Frank Act transferred rulemaking authority from the Fed to the CFPB in 2011, and CFPB updated the rule last year. To watch the overview, visit CFPB's YouTube Channel. TWEET THIS: #OCCINNOVATES At the Office of the Comptroller of the Currency's forum on "Supporting Responsible Innovation in the Federal Banking System" in Washington, D.C., panelists, including bankers, financial technology companies, community and consumer groups, academics, and OCC officials discussed such topics as opportunities and challenges for companies in financial innovation, how the industry is responding to rapid change and where it may lead, and how fintech companies and financial innovation can reach underserved consumers and communities.