July 29, 2014

Good Data Makes Good Mortgages

By David Reiss

The CFPB issued a proposed rule about increasing the quality of information that lenders report about mortgage applications. The press release regarding the proposed rule states that these changes will ease the reporting burden on lenders, and that may very … Continue reading

July 25, 2014

Financial Literacy Rehash

By David Reiss

The Consumer Financial Protection Bureau released its second Financial Literacy Annual Report. In blogging about last year’s report, I noted that the CFPB assumed that financial education worked more than research had shown it to work. Unfortunately, this report seems … Continue reading

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