Wall Street Journal, May 29, 2019–Ryan Dezember (subscription)The private-equity firm late Tuesday sold more than $1 billion of shares of Invitation Homes Inc., the giant single-family home landlord it launched following the financial crisis in a wager that many Americans would be willing to rent the suburban lifestyle they could no longer afford to own.
Category: Top National News
Here are 5 Things the CFPB Will Focus on in 2019
HousingWire, May 28, 2019–Kelsey RamirezThe Consumer Financial Protection Bureau recently published its spring 2019 rulemaking agenda, showing the regulatory matters it reasonably anticipates having under consideration through 2020.
Reading Between the Lines of CFPB’s Regulatory To-Do List
American Banker, May 28, 2019–Kate Berry (subscription)While the rulemaking agenda suggests some significant moves by the agency in the near future, it leaves out mention of other areas of interest, such as compensation standards for loan originators, a more complete revamp of the CFPB’s “Qualified Mortgage” standard and additional industry requests to water down the Dodd-Frank Act.
Private Equity Real Estate Fund Managers Face Growing Pressure on Yields
National Real Estate Investor, May 28, 2019–Beth Mattson-TeigPrivate equity real estate funds have enjoyed robust fundraising in recent years, resulting in record high levels of assets under management. Yet fund managers are bracing for more challenges ahead that could cause them to lower target yields.
REITs Bet Big on the Mortgage Market
Wall Street Journal, May 28, 2019–Ben Eisen (subscription)A once-sleepy corner of American housing finance is increasingly buying up mortgages, and it stands to grow further as the government’s role in the market shrinks. (MBA Chief Economist Mike Fratantoni mention)
CFPB’s Kraninger Digs in Over Halt to Military Lending Exams
National Mortgage News, May 27, 2019–Kate Berry (subscription)Kathy Kraninger, the director of the Consumer Financial Protection Bureau, is in a standoff with Senate Democrats over the bureau’s refusal to examine financial firms for compliance with the Military Lending Act.
Freedom Mortgage to Acquire RoundPoint Mortgage Servicing
HousingWire, May 24, 2019–Jessica GuerinFreedom Mortgage and RoundPoint Mortgage Servicing are planning to merge, the companies announced Friday. The deal will make RoundPoint–which services and subservices about $91 million in mostly agency loans–a wholly owned subsidiary of Freedom, a full-service, nonbank mortgage lender and servicer.
House Passes Waters’ Bill to Reverse Mulvaney’s CFPB Changes
National Mortgage Professional, May 23, 2019–Phil HallThe House voted along party lines 231 to 191 to approve the Consumers First Act, a bill authored by Rep. Maxine Waters, D-Calif., Chair of the House Financial Services Committee, designed to reverse structural changes made to the Consumer Financial Protection Bureau while Mick Mulvaney was the agency’s Acting Director.
Senate Finalizes Deal on Disaster Aid Package
Politico, May 23, 2019–Marianne Levine, Burgess EverettThe multi-billion dollar disaster aid bill, which will assist states devastated by wildfires, hurricanes and flooding, comes after months of roadblocks.
Should Fannie, Freddie Be Labeled ‘Systemically Important?’
American Banker, May 23, 2019–Victoria Finkle (subscription)One of the bigger questions is whether the GSEs should be considered systemically important. Although this is a topic that has largely flown under the radar up to now, it may take on new significance under a Trump-guided Federal Housing Finance Agency.