The Lede
Top National News
Trump’s Ambitious Fannie, Freddie Overhaul Faces Hurdles
Reuters, July 16, 2019--Pete Schroeder"You're trying to reform what is the financing behind one-sixth of the economy," said Pete Mills, senior vice president at the Mortgage Bankers Association. "You've got to do it in a way that doesn't disrupt the marketplace, and that's the challenge."
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CFPB Seeks Input on QM Patch
National Mortgage Professional, July 26, 2019--Phil HallPete Mills, senior vice president of residential policy and member engagement at the Mortgage Bankers Association, welcomed the ANPR. "We appreciate the bureau beginning the process now to address the future of the QM Patch," he said.
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Calabria on the QM Patch: Fannie, Freddie Should Be Held to Same Standards as Everyone Else
HousingWire, July 26, 2019--Kelsey RamirezFederal Housing Finance Agency Director Mark Calabria told HousingWire this week that he supports the Consumer Financial Protection Bureau's move to kill the Qualified Mortgage patch.
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Financial Crisis Yields a Generation of Renters
Wall Street Journal, July 27, 2019--Christina Rexrode (subscription)Many young adults are priced out of the housing market. That could reshape their finances-and the economy-for years to come.
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Florida’s Financial Regulation Commissioner is Fired
National Mortgage Professional, July 26, 2019--Phil HallThe Florida Cabinet has fired Financial Regulation Commissioner Ronald Rubin following the issuance of a report stating he misused his public office and subjected women to sexual harassment.
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Get Ready for the World Economy’s Biggest Week of 2019
Bloomberg, July 27, 2019--Simon KennedyThere will be no chance of a summer break for investors or policy makers in coming days as they brace for what might be the busiest week for the world economy this year.
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Consumer Groups Turn Up Heat on Warranties, Angie’s List
UExpress, July 26, 2019--Lew SichelmanMany homeowners believe they can't do without these two perks: home warranties that promise to replace appliances that cannot be repaired, and Angie's List, the popular website that recommends contractors and repair specialists. But both have come under fire recently by key consumer organizations, which say neither is as valuable as people think.
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6 Questions on the CFPB Plan to End Fannie and Freddie’s ‘Patch’
American Banker, July 28, 2019--Kate Berry (free article)"The goal here is to get a version of the patch [so that] QM covers a significant percentage of the borrowers that are currently served, but applies to the market entirely," said Pete Mills, the senior vice president of residential policy at the Mortgage Bankers Association.
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