HousingWire, Dec. 17, 2018–Jessica GuerinCertain dynamics shaping the housing market have led the occasional forecaster to predict a pending boom home equity lending.
Category: Top National News
The Border Wall Fight is Killing Chances of Year-End Banking Reforms
American Banker, Dec. 14, 2018–Neil Haggerty (subscription)As the Trump administration tussles with congressional Democrats over border wall funding and the threat of a government shutdown looms, the budget battle has all but killed the chance of more financial services reforms before the end of the year.
Commercial and Multifamily Mortgage Debt Hit New Peak in Q3
National Mortgage Professional, Dec. 13, 2018–Phil HallCommercial and multifamily mortgage debt reached a new peak in the third quarter, according to data from the Mortgage Bankers Association.
Trump Picks Calabria to Head Federal Housing Finance Agency
Mortgage Orb, Dec. 12, 2018–Patrick BarnardPresident Donald Trump on Tuesday announced his intent to nominate Mark Calabria – who currently serves as chief economist for Vice President Mike Pence – to replace Mel Watt as director of the Federal Housing Finance Agency. (MBA mention)
OCC Sees Sharp Drop in Mortgages Serviced by Large Banks
American Banker, Dec. 12, 2018–Rachel Witkowski (subscription)Mortgages held by national banks has diminished by nearly half since the financial crisis, to $3.26 trillion in the third quarter, according to a report by the Office of the Comptroller of the Currency.
‘I Am Very Excited to Be Here:’ Kraninger Signals New Tone Atop CFPB
National Mortgage News, Dec. 11, 2018–Neil Haggerty (subscription)Kathy Kraninger’s first public remarks Tuesday as the new head of the Consumer Financial Protection Bureau struck a more moderate tone than that of her predecessor, acting Director Mick Mulvaney, who at times questioned the role of the agency he was chosen to lead.
CFPB Moves to Further Ease Enforcement on Financial Services Industry
HousingWire, Dec. 11, 2018–Ben LaneIn a proposal set to be introduced into the Federal Register soon, the Consumer Financial Protection Bureau is proposing new rules surrounding “no-action letters,” a bureau enforcement measure introduced under former CFPB Director Richard Cordray that’s designed to aid innovation in the financial markets.
The Year Ahead: Consumer Agency Gets New Chief at Crucial Point
The Hill, Dec. 11, 2018–Sylvan LaneKathy Kraninger is taking control of the Consumer Financial Protection Bureau at a pivotal moment for the powerful financial watchdog. The agency is mired in controversy, and Kraninger is facing mounting questions from both supporters and critics of the CFPB over how she will wield her immense powers as director.
Mulvaney’s Last Move at CFPB Aims to Help Fintechs
American Banker, Dec. 11, 2018–Kate Berry (subscription)In Mick Mulvaney’s last significant move as acting director of the Consumer Financial Protection Bureau, the agency drafted a sweeping proposal removing the threat of legal liability for fintech companies that test products benefiting consumers.
Trump Expected to Nominate Fannie, Freddie Critic to Oversee Mortgage-Finance Giants
Wall Street Journal, Dec. 10, 2018–Andrew Ackerman, Kate Davidson (subscription)The Trump administration is expected to soon announce that it plans to nominate Mark Calabria to become the director of the obscure but powerful Federal Housing Finance Agency, the regulator for the two companies. Calabria currently serves as chief economist to Vice President Mike Pence.