August 24, 2017
- Data resubmission guidelines were released by the Federal Financial Institution Examination Council (FFIEC). These guidelines stem from the Home Mortgage Disclosure Act (HMDA). An institution that experiences errors on more than 10% of their applications, must resubmit the entire Loan Application Register (LAR). New guidelines like these seem burdensome, but will likely lead to better oversight of the application process.
- One may believe military families do not encounter the woes of the housing market; however, the unlikely group is highly impacted by affordable housing. Due to the mandates of their stations, families in the military are not afforded the autonomy of living in the city that most meets their family needs. As a result, they struggle to find housing and due to their low wages and waste their housing stipends on places unsuitable for their family.