National Mortgage Professional, Jan. 30, 2020–Phil HallThe Federal Housing Finance Agency announced a realignment of its structure, with the creation of new units and executive personnel changes designed to prepare …
Category: Top National News
CFPB’s Hiring of Former DOJ Official Could Raise Ire of Capitol Hill
National Mortgage News, Jan. 30, 2020–Kate Berry (subscription)The Consumer Financial Protection Bureau on Thursday hired Thomas Ward as enforcement chief, an appointment likely to draw attention from House Democrats, who …
Fed Issues Final Rule Clarifying Standards for Bank Investors
American Banker, Jan. 30, 2020–Hannah Lang (subscription)The Federal Reserve voted Thursday to finalize a new bank control framework for determining the circumstances in which one company controls another.https://www.americanbanker.com/news/fed-issues-final-rule-clarifying-standards-for-bank-investors
Fannie Mae Warns Lenders: There is a Growing List of Fake Employers Showing Up on Mortgages
HousingWire, Jan. 29, 2020–Ben LaneBack in 2018, Fannie Mae issued a warning to lenders after identifying more than 30 apparently fake companies that were appearing on borrowers’ mortgage documentation as …
Is the U.S. in a Housing Bubble?
HousingWire, Jan. 28, 2020–Logan MohtashammiSpoiler alert: no. Unlike the bubble years, purchase application data, existing home sales, new home sales, housing starts and the lack of cash-out refinancing all point …
OCC’s Otting, House Democrats Spar over CRA Reform
American Banker, Jan. 29, 2020–Brendan Pedersen (subscription)Most stakeholders agree that the Community Reinvestment Act needs to be reformed, but a congressional hearing featuring the regulator leading the reform effort showed …
End of the Mortgage Refi Boom Could Spell Trouble for Credit Unions
National Mortgage News, Jan. 28, 2020–Melissa Angell (subscription)Lower rates spurred a lot of unexpected mortgage business in 2019 but credit unions need to prepare themselves for what happens once the …
New Risk to World Economy: Synchronized Housing Slowdown
Wall Street Journal, Jan. 27, 2020–Sarah Chaney (subscription)Housing markets across the world, from the U.K. to China to Australia, are losing steam, holding back prospects for the global economy that …
U.S. Bank Regulator Sharpens Teeth on Wells Fargo, Surprising Critics
Reuters, Jan. 24, 2020–Pete Schroeder, Chris PrenticeLong accused of being too soft, the Office of the Comptroller of the Currency surprised its critics with tough treatment of scandal-ridden lender Wells …
CFPB’s Backers Tell High Court That Agency’s Structure is Legal
American Banker, Jan. 24, 2020–Kate Berry (subscription)Defenders of the Consumer Financial Protection Bureau argue that Congress has broad authority to structure independent agencies and that the CFPB “fits comfortably” within …