January 21, 2014
Shiller on Primitive Housing Finance
Robert Shiller has posted Why Is Housing Finance Still Stuck in Such a Primitive Stage? The abstract for this brief discussion paper reads: The institutions for financing owner-occupied housing have not progressed as they should, and the financial innovation that … Continue reading
January 21, 2014 in CFPB | Permalink | No Comments
January 9, 2014
Weigh in on Mortgage Closing “Pain Points”
The Consumer Finance Protection Bureau has issued a Request for Information Regarding the Mortgage Closing Process. The CFPB wants information from the public about mortgage closing. Specifically, the Consumer Financial Protection Bureau (CFPB) seeks information on key consumer “pain points” … Continue reading
January 9, 2014 in CFPB | Permalink | No Comments
January 8, 2014
CFPB’s Regulatory Agenda — Collect More Data!
The Consumer Financial Protection Bureau has published its Semiannual Regulatory Agenda in the Federal Register. Of note are amendments to the Home Mortgage Disclosure Act’s Regulation C. These amendments are in the prerule stage. The Agenda states that HMDA requires … Continue reading
January 8, 2014 in CFPB | Permalink | No Comments
December 30, 2013
Reiss on New Mortgage Regime
Loans.org quoted me in a story, CFPB Rules Reiterate Current and Future Lending Practices. It reads in part, David Reiss, professor of law at the Brooklyn Law School, said there could be other long-term effects due to this high DTI … Continue reading
December 30, 2013 in CFPB | Permalink | No Comments
December 19, 2013
Reiss on Predatory Online Lending
E-Commerce Times quoted me in CFPB Suit Targets Predatory Online Lending Practices. It reads in part: The Consumer Finance Protection Bureau this week put online finance companies on notice that it will not overlook them merely because they operate in cyberspace. … Continue reading
December 19, 2013 in CFPB | Permalink | No Comments
December 13, 2013
Non-QM Mortgages Risks and Best Practices
Moody’s issued a report, Non-QM US RMBS Face Higher Risk of Losses Than QM, but Impact on Transactions Will Vary, that discusses the risk that what drug plan provides cozaar US RMBS backed by non-qualified mortgages (those that do not … Continue reading
December 13, 2013 in CFPB | Permalink | No Comments
December 12, 2013
Reiss on New Mortgage Rules
The Redding Record Searchlight interviewed me in Experts Worry New Loan Standards, Lending Limits Could Hurt Housing Market. It reads in part, New mortgage qualification rules and lower FHA lending limits that take effect next year threaten to slow the … Continue reading
December 12, 2013 in CFPB | Permalink | No Comments
