American Banker, Jan. 21, 2020–Kate Berry (subscription)The Consumer Financial Protection Bureau’s willingness to extend a special regulatory exemption for Fannie Mae and Freddie Mac is welcome news for the mortgage …
Category: Top National News
Shaping the Future of HUD and FHA
MReport, Jan. 17, 2020–David WhartonHUD Deputy Secretary nominee Brian D. Montgomery discusses the False Claims Act, better aligning with the GSEs and bringing the organization’s technology into the 21st century.
Why What’s in the GSE Bank Matters
Chicago Agent Magazine, Jan. 20, 2020–Meg WhiteThere’s no guarantee that Congress or the administration will tackle GSE reform in 2020. However, the Federal Housing Finance Agency did announce that it …
The Community Reinvestment Act Faces Major Changes, but Regulators Are Not Aligned
Urban Institute, Jan. 17, 2020–Laurie Goodman, Brett Theodos, Ellen SeidmanRegulators, the banking industry, and community advocates all agree that with well-conceived regulatory changes, the CRA could be more effective. https://www.urban.org/urban-wire/community-reinvestment-act-faces-major-changes-regulators-are-not-aligned
Bipartisan Scolding of FASB Chief Raises Lender Hopes of Softer CECL
American Banker, Jan. 16, 2020–John Reosti (subscription)The chairman of the Financial Accounting Standards Board received a chilly reception from a key House subcommittee, providing hope that lawmakers will eventually put …
Equifax to Pay $380.5M to Cover Claims from 2017 Breach
National Mortgage News, Jan. 16, 2020–Laura Alix (subscription)Equifax could pay more than $500 million to resolve a class action lawsuit resulting from the 2017 breach, which exposed personal information on …
Housing Supply Chartbook
Urban Institute, Jan. 16, 2020–Michael Neal, Laurie Goodman, Caitlin YoungThe authors note since 2009, housing demand has outstripped supply, quite significantly in some areas. This shortage has increased home prices …
HUD Appoints Federal Financial Monitor to Oversee U.S. Virgin Islands, Puerto Rico Disaster Recovery Funds
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
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 …