Janet Yellen, President-Elect Joseph Biden Jr.’s nominee for Treasury Secretary, appears this morning for a confirmation hearing before the Senate Finance Committee. Ahead of the hearing, the Mortgage Bankers Association sent a letter in support of her nomination.
Tag: Robert Broeksmit CMB
FHFA Amends GSE Stock Purchase Agreements; Leaves Decision on Conservatorship to Biden Administration
Fannie Mae and Freddie Mac will not exit federal conservatorship under the Trump Administration; the Federal Housing Finance Agency will leave that decision to the Biden Administration, FHFA said Thursday.
FHA 2020 Actuarial Report: MMI Fund Capital Ratio at 13-Year High
The Federal Housing Administration om Friday said its Mutual Mortgage Insurance Fund capital ratio ended fiscal year 2020 at 6.1 percent, well above its congressionally mandated 2.0 percent capital ratio to its highest level since 2007.
‘Not Ok? That’s Ok:’ Financial Services, Consumer Coalition Launches Borrower Awareness Campaign
The Mortgage Bankers Association and a broad coalition of financial services stakeholders – including mortgage servicers, trade associations, housing counseling agencies, governmental agencies and think tanks – launched a consumer awareness campaign to reach borrowers who have missed one or more mortgage payments as a result of the COVID-19 pandemic and may be eligible for forbearance assistance under the CARES Act or other forms of mortgage payment relief.
Broeksmit: ‘MBA Was Made for Times of Crisis’
In remarks yesterday during the Mortgage Bankers Association’s virtual Regulatory Compliance Conference, MBA President & CEO Robert Broeksmit, CMB, said the extraordinary events of 2020 have tested everyone’s mettle—including that of MBA.
MBA Offers FHFA Recommendations on GSE Strategic Plan
The Mortgage Bankers Association, in comments yesterday to the Federal Housing Finance Agency, said the FHFA Strategic Plan for fiscal years 2021-2024 should continue to work toward an ultimate goal: releasing Fannie Mae and Freddie Mac from federal conservatorship—but only when they are able to do so without risk to the real estate finance markets.
State Financial Regulators Seek Comment on ‘Prudential Standards’ for Nonbank Mortgage Servicers
The Conference of State Bank Supervisors seeks public input on proposed regulatory prudential standards for nonbank mortgage servicers, as the state-regulated industry covers an increasing share of this market.
MBA Offers Recommendations to CFPB ‘Seasoned QM’ Proposal
The Mortgage Bankers Association, in an Oct. 1 letter to the Consumer Financial Protection Bureau, offered several recommendations in response to the Bureau’s request for comment on its proposed rule creating a new category of “seasoned” Qualified Mortgage loans.
MBA Advocacy Spurs Crackdown on Deceptive VA Loan Marketing
The settlements signal a remarkable effort by the CFPB to hold lenders accountable for their dealings with the nation’s veterans—and the culmination of advocacy by the Mortgage Bankers Association to protect earned benefits for servicemembers, veterans and surviving spouses.
MBA Asks FHFA to Develop New GSE Capital Framework
The Mortgage Bankers Association asked the Federal Housing Finance Agency to restructure the capital framework for Fannie Mae and Freddie Mac, moving from past business models to a market utility approach that enables them to meet all of their obligations.