Category: Top National News

National Mortgage News, Sept. 17, 2019–Kate Berry (subscription)Kathy Kraninger, the director of the Consumer Financial Protection Bureau, gave more support Tuesday to the Trump administration’s position that the agency she runs exceeds constitutional limits.

American Banker, Sept. 17, 2019–Neil Haggerty (subscription)Senate Democrats are warning the Consumer Financial Protection Bureau to be careful as it considers changes to its mortgage underwriting rules.

Wall Street Journal, Sept. 13, 2019–Andrew Ackerman, Nick Timiraos (subscription)For years after the 2008 mortgage-market meltdown, Republicans and Democrats agreed on little about what to do with Fannie Mae and Freddie Mac except one thing: Get rid of them. A Trump administration housing-finance roadmap released last week would do the opposite.

UExpress, Sept. 13, 2019–Lew SichelmanFour longtime friends from the Kansas City, Missouri, area don’t know it, but they are on the leading edge of a growing phenomenon in vacation homes. They are buying places collectively.

National Mortgage News, Sept. 12, 2019–Kate Berry (subscription) Republicans have long tried to defang the Consumer Financial Protection Bureau, but a Democratic victor in the presidential race could actually be the first to mount a constitutional challenge to the agency’s leadership.

HousingWire, Sept. 12, 2019–Kelsey RamirezDepartment of the Treasury Secretary Steven Mnuchin said the administration is currently looking to end the profit sweep of Fannie Mae and Freddie Mac.

Riverside Press-Enterprise (Calif.), Sept. 12, 2019–Jeff LazersonNow there is a bright line lifting consumer protections against unlimited points, high rates, balloon payments and prepayment penalties for every financially desperate borrower who can’t get a mortgage through institutional channels. Such loans now are possible so long as he or she provides a business purpose.

National Mortgage News, Sept. 11, 2019–Hannah Lang (subscription)A day after Federal Housing Finance Agency Director Mark Calabria testified in front of lawmakers about the administration’s plans for ending the conservatorship of Fannie Mae and Freddie Mac, he offered new details about his timeline and vision for reform, including what options are on the table for building capital.

American Banker, Sept. 11, 2019–John Heltman (subscription)The House passed five bipartisan financial services bills aimed at issues ranging from rural housing assistance to the backlog of appraisals for Federal Housing Administration loans.

Financial Regulation News, Sept. 10, 2019–Dave KovaleskiThe Mortgage Bankers Association commended the Treasury Department on its plan to reform the housing finance system. “The reports recognize the need to better coordinate the roles of FHA and the GSEs,” said MBA President and CEO Robert Broeksmit, CMB.