July 22, 2014

Risky Cash-Out Refis

By David Reiss

Anil Kumar of the Dallas Fed has posted Do Restrictions on Home Equity Extraction Contribute to Lower Mortgage Defaults? Evidence from a Policy Discontinuity at the Texas’ Border to SSRN.  The abstract reads Given that excessive borrowing helped precipitate the … Continue reading

July 21, 2014

A Resilient NYC

By David Reiss

NYU’s Furman Center released a report, The Price of Resilience: Can Multifamily Housing Afford to Adapt? It explains that storm-proofing New York City poses several special challenges not shared by all coastal areas. First, New York City is largely built … Continue reading

July 17, 2014

Armed, Unarmed or Harmed by Knowledge?

By David Reiss

I posted Armed, Unarmed or Harmed by Knowledge? A Comment on the FHA’s Housing Counseling Pilot Program to SSRN (and to BePress). The abstract reads, The FHA has requested input on its Homeowners Armed with Knowledge (HAWK) for New Homebuyers … Continue reading

July 16, 2014

Good Data for the FHFA

By David Reiss

The Federal Housing Finance Agency released a White Paper on the FHFA Mortgage Analytics Platform.  By way of background, the White Paper states that The Federal Housing Finance Agency (FHFA) maintains a proprietary Mortgage Analytics Platform to support the Agency’s … Continue reading

July 14, 2014

Reiss on Mortgage Insurance Proposal

By David Reiss

Law360 quoted me in FHFA Capital Rules Will Squeeze Older Mortgage Insurers (behind a paywall). It opens, The Federal Housing Finance Agency on Thursday released proposals that would impose higher capital requirements on private mortgage insurers doing business with Fannie Mae and Freddie Mac, but experts … Continue reading

July 11, 2014

What Should the 21st Century Mortgage Market Look Like?

By David Reiss

Treasury is requesting Public Input on Development of Responsible Private Label Securities (PLS) Market.  Comments are due on August 8, 2014. The request for information wants input on the following questions: 1. What is the appropriate role for new issue … Continue reading

July 9, 2014

Input on Housing Counseling

By David Reiss

HUD has issued a Notice, Federal Housing Administration (FHA): Homeowners Armed With Knowledge (HAWK) for New Homebuyers (Docket No. FR-5786-N-01). HAWK is a pilot that will provide FHA insurance pricing incentives to first-time homebuyers who participate in housing counseling and … Continue reading