Tech Crunch, Jan. 24, 2019–Zack WhittakerA reporter found the second trove of data in a separate exposed Amazon S3 storage server, which too was not protected with a password. Anyone who went to an easy-to-guess web address in their web browser could have accessed the storage server to see–and download–the files stored inside.
Category: Top National News
MBA Asks VA to Delay Cash-Out Refi Rule Enforcement
National Mortgage Professional, Jan. 25, 2019–Phil Halln a letter to the VA, MBA President and CEO Robert Broeksmit cited a “significant operational challenge” in the new VA disclosures that would impose required borrower disclosures which are not readily available to MBA member lenders offering such refinance loans.
Top Democrats Urge FHFA’s Otting to Clarify Plans for GSEs
American Banker, Jan. 25, 2019–Neil Haggerty (subscription)Two leading congressional Democrats called on the acting Federal Housing Finance Agency chief to detail his plans for the conservatorships of Fannie Mae and Freddie Mac following reports he may shake up the agency’s approach to the two mortgage giants.
CECL Talks Could Get Heated as Detractors Weigh In
American Banker, Jan. 25, 2019–John Reosti (subscription)Members of the Financial Accounting Standards Board could be in for an earful Monday. FASB will hold a highly anticipated roundtable at its Norwalk, Conn., headquarters to discuss the Current Expected Credit Loss accounting standard.
What is Otting’s Plan for GSE Reform? It’s Complicated
National Mortgage News, Jan. 28, 2019–Hannah Long (free content)Federal Housing Finance Agency acting director Joseph Otting promised the White House is set to announce an administrative plan for changes to Fannie Mae and Freddie Mac. But the mechanics of such a plan as well as the timeline have left mortgage industry insiders scratching their heads.
Plenty of Risk to Go Around
Mortgage Media, Jan. 18, 2019Among the more significant developments in the mortgage industry has been the Federal Housing Finance Agency’s development in 2012 and thereafter of a credit risk transfer program for Fannie Mae and Freddie Mac.It’s a strong and solid move, notes Andrew Rippert, chief executive officer of the Global Mortgage Group at Arch Capital Group Ltd., involved in insurance, reinsurance and mortgage insurance around the globe.
Fannie-Freddie Soar on FHFA Chief’s Convervatorship Comment
Naional Mortgage News, Jan. 18, 2019 (subscription)Fannie Mae and Freddie Mac shares soared Friday amid fresh reports that the Trump administration is working on proposal that would recommend freeing the mortgage-finance giants from government control.
Fewer People See Equal Opportunity in Homeownership Pursuit
National Mortgage Professional, Jan. 21, 2019–Phil HallSixty-seven percent of people surveyed in a new Gallup Poll believe African-Americans in their community have the same chance as whites to get any housing they can afford. This represents the lowest point since Gallup began its annual survey on the intersection of race and socioeconomic issues in 1989.
I Refused a Consent Order. Now Regulators Want My Mortgage License
National Mortgage News, Jan. 17, 2018–John Dilorio (free article)The author, CEO of 1st Alliance Lending in Connecticut, said his company’s refusal to comply with a consent order from the Connecticut Department of Banking is causing a regualtory nightmare.
Fannie Mae, Freddie Mac Add New Provisions as Shutdown Persists
National Mortgage News, Jan. 17, 2019–Bonnie Sinnock (subscription)Fannie Mae and Freddie Mac are adding another round of new underwriting requirements and a workaround for employment verification in response to the prolonged government shutdown.