Dodd Frank Update

What state supervision, enforcement means for your compliance program - Dodd Frank Update listened as a panel of #regulators and attorneys examined what #states are doing to fill the void left by #federal #financial #regulatory agencies. Source: bit.ly/3R6SzdJ

Can AI strengthen borrower relationships? - #Mortgage #lenders are rapidly adopting #AI, but many are still grappling with how to use it effectively without weakening the human relationships. #STRATMOR explored this topic in a recent #report. Source: bit.ly/4eKpNt3

Regulatory Roundup: Federal Reserve greenlights four bank mergers - The @FederalReserve approved four bank #merger and #acquisition applications in recent months, including one for a bank based outside the U.S. Source: bit.ly/4d9t6sJ

ASB vice chair explains recent draft of guidance on AI, AVMs - The #ASB of @TheAppraisalFdn released a 2nd #ExposureDraft of proposed Advisory Opinion 41 on #AI, machine learning and automated valuation models while complying with #USPAP. Source: bit.ly/3R6S17A

Second Circuit says federal law preempts New York mortgage escrow rule - Nearly two years after the Supreme Court raised the bar for #preemption, the Second Circuit contradicted it with its ruling on NY's #mortgage escrow account rule. #Cantero Source: bit.ly/4v5GnbZ

Trades urge lawmakers, agencies to address ‘deposit flight' risks tied to stablecoins - #Banking advocates commented on legislation aimed to reduce the risk of #depositflight as #digital #currencies are integrated into the #bankingsystem. #crypto Source: bit.ly/4tqUZ44

Government appeals Texas court decision staying enforcement of FinCEN real estate rule - #FinCEN and its co-defendants, including @USTreasury Sec. Scott Bessent, appealed a court decision pausing enforcement of its #realestate transaction reporting rule: thelegaldescription.com/tld/articlestl…

Class Valuation launches platform to shift appraisal repurchase risk from lenders - Class Valuation recently launched an #underwriting and #appraisal #assurance program designed to reduce lender risk, lower costs and accelerate loan closings. Source: bit.ly/4d3GP47

What do lenders, builders and consumers really want? - A panel of experts from across the #realestate ecosystem will examine how #lenders, #homebuilders and #settlement partners can improve the #homebuyer journey and drive #referrals. #NS32026 Source: bit.ly/4uF7oT9

Trades react to House passing Farm Bill - Financial services trade organizations welcomed the House's 224-200 vote in favor of advancing its version of the “Farm Bill,” to the Senate. #FarmBill #legislation Source: bit.ly/4toOUW9

Freddie Mac reports uptick in mortgage rates, new-home sales - The average rate for a 30-year fixed-rate #mortgage increased by seven basis points from the previous week, according to @FreddieMac, but remained lower than a year prior. #rates Source: bit.ly/4nmfP3n

The impact of virtual inspections on the appraisal profession - Dodd Frank Update caught up with with an industry insider to discus the #appraisal industry's transition from traditional inspections to #AI-powered “valuation modernization.” Source: bit.ly/3R5SIhq

Survey reveals states adding the most mortgage debt for struggling homeowners - Americans owe nearly $13.2 trillion on their #mortgages, and the #WalletHub recently released a report to show where #homeowners are #struggling most. Source: bit.ly/4utEXay

Loan applicant accuses Bank of America, Velox of discrimination in lending, property appraisal - A lawsuit filed in Virginia accused Bank of America and Velox Valuations of racial discrimination in #mortgage #lending & #appraisal. #BoA #Velox Source: bit.ly/4w7HIA5

Appraiser ‘coach' addresses new era of running businesses - Dustin Harris “The Appraiser Coach,” examines how new tools will forever change how one runs their business, specifically #ChatGPT and #OpenClaw, a free autonomous #AI agent. Source: bit.ly/4ndiZWV

HUD revises environmental review requirements in MAP Guide - To lower #housing #development costs and #streamline operations, the @HUDgov announced the revision of #environmental #review requirements described in its #FHA #MAP Guide on May 4. Source: bit.ly/4cYtDfu

CFPB revises Sec. 1071 final rule to focus on ‘core lending products' - The @CFPB released a #finalrule implementing #smallbusiness #lending requirements outlined under Sec. #1071 of the Dodd-Frank Act. Source: bit.ly/4uQUSjN

Mortgage, banking professionals testify about Basel III capital proposal - The #House #FSC convened to review proposals from the fed #banking agencies to implement revised #BaselIII #capital rules with input from the financial services sector. Source: bit.ly/4f0FrAA

HUD, USDA rescind ‘energy efficiency' construction standards - The @HUDgov announced the #rescission of the final determination for #HUD and @USDA financed #housing. #USDA Source: bit.ly/4tRgPyM

Federal banking regulators lower community bank leverage ratio - The federal banking regulators lowered the #CBLR to encourage more community banks to adopt the framework. #leverage #ratio #communitybanks Source: bit.ly/3Pllz0H