Banker's Toolbox Announces — ACQUISITION OF LOAN LOSS RESERVE POWERHOUSE, MAINSTREET TECHNOLOGIES
Banker's Toolbox, Inc., leaders in compliance solutions for financial institutions, announced the acquisition of Georgia-based MainStreet Technologies (MST). MST is an industry leader in the loan risk management space. This acquisition adds to a strong and growing portfolio of compliance-related solutions and will continue to enhance the value Banker's Toolbox brings to both their customers and the industry. (Read full press release here.)
FHFA announces replacement for its ARM index
The Federal Housing Finance Agency has published [84 FR 32738] a notice in today's Federal Register designating a replacement for its recently discontinued monthly index for adjustable rate mortgages.
The new index, to be called “PMMS+,” will be an adjusted version of Freddie Mac's Primary Mortgage Market Survey 30-Yr FRM [fixed-rate mortgage], and will take effect immediately. FHFA intends to publish the PMMS+ Index value monthly and on approximately the same schedule as it has been publishing the existing index. FHFA is soliciting public comments on its designation of the replacement index and will consider any comments received through September 9, 2019, before finalizing its decision about the successor index.