The CFPB adopted rules amending provisions under the Equal Credit Opportunity Act (ECOA). The adopted rules: provide creditors additional flexibility in complying with ECOA in order to facilitate compliance with the Home Mortgage Disclosure Act; add new model forms and remove an existing outdated form; and make various other amendments to facilitate the collection and retention of information about the ethnicity, sex, and race of certain mortgage applicants. The adopted rules become effective January 1, 2018.
VA
VA Offers 40-Year Loan Modification Option
VA issued Circular 26-24-08 to offer a 40-Year Loan Modification option to assist borrowers in reaching an affordable payment in the current environment of rising