The Mortgage Bankers Association, in a comment letter yesterday to the Consumer Financial Protection Bureau, asked the Bureau to extend the temporary GSE Qualified Mortgage loan definition, also known as the GSE “Patch,” for an additional six months following the effective date for the revised general QM parameters.
Tag: Robert Broeksmit CMB
MBA Asks HUD to Withhold Publication of Final Disparate Impact Rule
The Mortgage Bankers Association asked HUD to withhold publication of its final disparate rule, citing “legitimate concerns” that the rule erodes protections needed to combat housing discrimination and systemic inequality.
Supreme Court Rules Independent CFPB Director Unconstitutional
A divided Supreme Court on Monday ruled the current structure of the Consumer Financial Protection Bureau, with power resting with a single, independent director, is unconstitutional, but stopped short of allowing the Trump Administration to dismantle the agency.
MBA Letter Urges FHFA to Diversify FHLB System Membership Base
The Mortgage Bankers Association, in a letter to Federal Housing Finance Agency Director Mark Calabria, urged FHFA to expand membership in the Federal Home Loan Bank system to include captive insurers, including mortgage real estate investment trusts and independent mortgage banks.
CFPB Issues Notices of Rulemaking to Address GSE ‘Patch’
The Consumer Financial Protection Bureau Monday issued two Notices of Proposed Rulemaking to address the impending expiration of the Government-Sponsored Enterprises Patch, also known as the GSE Patch, which affects nearly one million mortgage loans.
To the Point with Bob: FHFA’s Capital Rule and How it Fits into Housing Finance Reform
Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, in his newest blog, discusses latest developments involving the Federal Housing Finance Agency and its re-proposed capital framework for Fannie Mae and Freddie Mac.
FHFA Announces Refi/Home Purchase Eligibility for GSE Borrowers in Forbearance
Fannie Mae and Freddie Mac issued temporary guidance May 19 regarding the eligibility of borrowers who are in forbearance, or have recently ended their forbearance, looking to refinance or buy a new home.
‘MBA Is Meeting this Crisis Head-On’
WASHINGTON, D.C.—“These are no normal times.” With those words, Mortgage Bankers Association Robert Broeksmit, CMB, not only described the past few months, but also set the tone for the future of the real estate finance industry and life in general.
House Passes $3 Trillion COVID-19 Relief Package; MBA Letter Details Industry Priorities
The House on Friday passed a massive $3 trillion pandemic relief bill on Friday that includes several key housing provisions advocated by the Mortgage Bankers Association.
FHFA, GSEs Offer Payment Deferral as Repayment Option for COVID-19 Forbearance Plans
The Federal Housing Finance Agency on Wednesday said Fannie Mae and Freddie Mac will employ a new payment deferral option allowing borrowers in COVID-19 related forbearance, who are able to return to making their normal monthly mortgage payment, the ability to repay their missed payments at the time the home is sold, refinanced, or at maturity.