November 7, 2017
Insuring Sustainable Housing
I posted Insuring Sustainable Housing to SSRN (and BePress). The abstract reads, Today’s FHA suffered from many of the same unrealistic underwriting assumptions that have done in so many lenders during the 2000s. It had also been harmed, like other lenders, … Continue reading
November 7, 2017 in Regulation | Permalink | No Comments
October 31, 2017
Relegating Consumer Protection To The Shadows
The Department of the Treasury released its report on Asset Management and Insurance, which follows on the heels of its report on the capital markets. The latest report calls for replacing the term “shadow banking” with “market based finance.” (63) The … Continue reading
October 31, 2017 in Regulation | Permalink | No Comments
October 27, 2017
Fannie and Freddie Visit the Supreme Court
Fannie and Fredddie investors have filed their petition for a writ of certiorari in Perry Capital v. Mnuchin. The question presented is Whether 12 U.S.C. § 4617(f), which prohibits courts from issuing injunctions that “restrain or affect the exercise of … Continue reading
October 27, 2017 in Regulation | Permalink | No Comments
October 24, 2017
Arbitration Rule Hit Job
The department of the Treasury issued a report, Limiting Consumer Choice, Expanding Costly Litigation: An Analysis of the CFPB Arbitration Rule. The report is a hit job on the Consumer Financial Protection Bureau’s new Arbitration Rule. The Arbitration Rule prohibits … Continue reading
October 24, 2017 in Regulation | Permalink | No Comments
October 20, 2017
The Long-Term Effects of Redlining
Daniel Aaronson et al. have posted The Effects of the 1930s HOLC “Redlining” Maps to SSRN. The paper provides empirical support for the argument that discriminatory government policies have consequences that can last for decades, including increased segregation. The abstract … Continue reading
October 20, 2017 in Regulation | Permalink | No Comments
October 16, 2017
The Next Taxpayer Bailout for the Mortgage Market?
The HUD Office of the Inspector General issued an audit on Nonbank Oversight by Ginnie Mae. This audit is one of those dry government documents that contain whispers of crises to come. The worrisome sentence is buried at … Continue reading
October 16, 2017 in Regulation | Permalink | No Comments
October 13, 2017
Rethinking FHA Insurance
The Congressional Budget Office issued a report on Options to Manage FHA’s Exposure to Risk from Guaranteeing Single-Family Mortgages. FHA insurance stands out from other forms of mortgage insurance because it guarantees all of a lender’s loss, rather than just … Continue reading
October 13, 2017 in Regulation | Permalink | No Comments
