The Mortgage Bankers Association last week sent a letter to federal regulatory agencies, discussing several topline issues it says are crucial to improving the current Community Reinvestment Act framework.
Tag: Office of the Comptroller of the Currency

MBA Submits Comments to OCC on Draft Principles for Climate-Related Financial Risk Management
The Mortgage Bankers Association last week submitted comments to the Office of the Comptroller of the Currency on its draft principles for climate-related financial risk management for large banks.

MBA Letter Offers Recommendations on Improving CRA Framework
The Mortgage Bankers Association, in a letter last week to the Federal Reserve, offered recommendations on how the Fed could improve the Community Reinvestment Act to improve credit access and more effectively meet the needs of low- and moderate-income communities.

Federal Agencies Propose Regulation Codifying Use of Supervisory Guidance
Five federal agencies last week issued a proposed regulation that would codify a 2018 guidance clarifying that supervisory guidance does not have “force and effect of law.”

OCC Issues Guidance on FEMA/Flood Insurance Force-Place Requirements
The Office of the Comptroller of the Currency on Wednesday provided guidance to the Mortgage Bankers Association, addressing conflicts between a recent Federal Emergency Management Agency memo and banking agency flood insurance rules.

Federal Agencies ‘Will not Criticize’ Coronavirus Loan Mods
Six federal agencies on Sunday issued a joint statement encouraging financial institutions to “work constructively” with borrowers affected by the coronavirus pandemic and said they “will not criticize” loan modifications made in a “safe and sound” manner.