CREF Highlights: HMDA Webinar
On December 17, MBA will host a webinar related to the recently issued by the Consumer Financial Protection Bureau final Home Mortgage Disclosure Act rule, which includes reporting requirements for multifamily loans.
HMDA requires that lenders report information about the loans which they originate or purchase. The webinar will provide a high level overview of the rule – including the expansion of reporting on loans secured by multifamily properties – and actions that your business may wish to consider in advance of the implementation date.
The webinar is complimentary to MBA members, please register here using promo code: WEBINAR. For additional information, please contact Kathy Marquardt at kmarquardt@mba.org.
Federal Government Funding Status
Late last week, the House and Senate approved a five-day continuing resolution to avert a partial government shutdown pushing the deadline back to December 16 and giving themselves more time to hammer out a budget agreement.
While most of the omnibus appropriations bill’s funding issues have been resolved, negotiations continue on a number of contentious policy riders. Many expect this week to be the final legislative week of 2015.
Please contact Len Wolfson at lwolfson@mba.org for more information.
Federal Reserve Releases Final Capital Plan and Stress Test Rules
On November 25, the Federal Reserve released a final rule (which appeared in the Federal Register on December 2 – linked here) to modify its capital plan and stress testing rules that will take effect for the 2016 capital plan and stress testing cycle. However, banks subject to the supplementary leverage ratio would not have to incorporate it into their capital plan and stress testing until the 2017 cycle.
For stress-testing exercises, the use of the advanced approaches risk-based capital framework would be delayed indefinitely. But those banks would continue to be subject to the advanced approach framework for their regulatory capital ratios. The common equity tier 1 capital requirement in the revised regulatory capital rules will be fully phased in over the nine-quarter planning horizon of the 2016 capital plan and stress testing cycles. Generally, this ratio will require banks to hold more regulatory capital than the prior tier 1 common ratio, which banks will no longer have to calculate.
For more information, please contact George Green at ggreen@mba.org.
Congress Passes Highway Bill Including Affordable Housing Amendment
Congress passed a five-year highway bill, which President Obama signed into law. Included in the bill is the text of H.R.2482, the Preservation, Enhancement and Savings Opportunity Act. This legislation, which MBA has endorsed, provides technical changes to the Low Income Housing Preservation and Resident Homeownership Act of 1990 (LIHPRHA) while ensuring long-term preservation of affordable multifamily housing properties.
Please contact Len Wolfson at lwolfson@mba.org if you have any questions.
Commercial/Multifamily Delinquencies Continued to Decline in Q3
Delinquency rates for commercial and multifamily mortgage loans continued to decline in the third quarter of 2015, according to the MBA’s Commercial/Multifamily Delinquency Report.
To learn about the delinquency rates for each of the five largest investor-groups at the end of the third quarter and to view the report, please click here.
For more information, please contact Jamie Woodwell at jwoodwell@mba.org or Reggie Booker at rbooker@mba.org.
