Virgin Islands Consortium, Jan. 16, 2020Robert Couch, CMB, is a past chairman of the Mortgage Bankers Association and former President of Ginnie Mae.https://viconsortium.com/vi-disaster_recovery/virgin-islands-hud-appoints-federal-financial-monitor-to-oversee-u-s-virgin-islands-puerto-rico-disaster-recovery-funds
Category: Top National News
You’re Never Too Old To Apply for a Mortgage
Wall Street Journal, Jan. 16, 2020–Katy McLaughlin (subscription)Federal law, under the Equal Credit Opportunity Act, forbids discrimination in the mortgage market on the basis of age. Nonetheless, loan officers say …
Lawyer Picked to Defend CFPB Before High Court Backs Agency Structure
American Banker, Jan. 15, 2020–Kate Berry (subscription)Paul Clement, a partner at Kirkland & Ellis and court-appointed defender of the agency in a landmark case challenging the agency’s structure, filed a …
In Rebuke of CFPB, States Look to Get Tough on Debt Collectors
American Banker, Jan. 15, 2020–Kate Berry (subscription)As states flex their regulatory muscle in response to a pullback in enforcement activity by the Consumer Financial Protection Bureau, they are zeroing in …
Ex-Fannie Mae Employee Sentenced for Role in Property Sales Scheme
National Mortgage News, Jan. 15, 2020–Bonnie Sinnock (subscription)The scam involved discount sales of real estate owned properties.https://www.nationalmortgagenews.com/news/ex-fannie-mae-employee-sentenced-for-role-in-property-sales-scheme
New Paper Challenges FSOC on Servicers
National Mortgage Professional, Jan. 15, 2020–Phil HallThe paper, “Do Non-Bank Mortgage Companies Pose Systemic Risk to the US Economy?,” challenges the FSOC’s assertion that the financial system could undergo tumult …
This Ghost of the Housing Bubble Still Haunts the Home Mortgage Market
MarketWatch, Jan. 15, 2020–Keith JurowThe author says jumbo mortgages increasingly look like a scary problem for the real estate sector,https://www.marketwatch.com/story/this-ghost-of-the-housing-bubble-still-haunts-the-home-mortgage-market-2020-01-15
LIBOR Transition, Multi-Family Policy Top Regulatory Issues
Commercial Mortgage Alert, Jan. 13, 2020–Steve Chambers“…Pendergast and Bruce Oliver, an associate vice president at the Mortgage Bankers Association, both pointed to the need for affordable housing as an important …
Fannie Mae, Freddie Mac Watchdog to Name IPO Advisor
HousingWire, Jan. 14, 2020–Kathleen HowleyThe watchdog for Fannie Mae and Freddie Mac has been interviewing advisory firms to handle the public offerings of their shares and is likely to announce …
Morningstar Nears Settlement With SEC Over Bond Ratings
Wall Street Journal, Jan. 14, 2020–Cezary Podkul, Gunjan Banerji, Dave Michaels (subscription)Morningstar Inc. is nearing a deal with federal regulators over allegations the firm violated rules in its bond-rating business …