April 21, 2016
Couples Leave Money on Closing Table
Geng Li, Weifeng Wu and Vincent Yao, three Fed economists, have posted a research note, Do People Leave Money on the Table? Evidence from Joint Mortgage Applications and the Minimum FICO Rule. The authors state that there “is mounting evidence … Continue reading
April 21, 2016 in Regulation | Permalink | No Comments
April 20, 2016
The Land Use Report of the President
The Economic Report of the President contains an important analysis of local land use policies in a section titled “Constraints on Housing Supply:” Supply constraints provide a structural challenge in the housing market, particularly in high-mobility, economically vibrant cities. When housing supply … Continue reading
April 20, 2016 in Regulation | Permalink | No Comments
April 19, 2016
Principal-ed Forgiveness
The Federal Housing Finance Agency announced a new program to implement principal reduction for seriously delinquent, underwater homeowners who meet the following criteria: Are owner-occupants. Are at least 90 days delinquent as of March 1, 2016. Have an unpaid principal balance … Continue reading
April 19, 2016 in Regulation | Permalink | No Comments
April 15, 2016
Consumer Survey Surveillance
As I had noted previously, The Consumer Financial Protection Bureau had issued a notice and request for comment on the Financial Well-Being National Survey. My submitted comments on it are below: The Consumer Financial Protection Bureau has solicited comment on whether this … Continue reading
April 15, 2016 in Regulation | Permalink | No Comments
April 12, 2016
Testing CFPB’s Constitutionality
Law360 quoted me in PHH Case Poised To Test CFPB’s Constitutionality (behind a paywall). It opens, A battle over the Consumer Financial Protection Bureau’s interpretation of mortgage regulations in assessing a $109 million penalty against a New Jersey-based mortgage firm has morphed … Continue reading
April 12, 2016 in Regulation | Permalink | No Comments
April 7, 2016
Protecting Seniors’ Home Equity
The Consumer Financial Protection Bureau has issued and Advisory and Report for Financial Institutions on Preventing Elder Financial Abuse. The Report defines elder financial exploitation as the illegal or improper use of an older person’s funds, property or assets. Studies … Continue reading
April 7, 2016 in Regulation | Permalink | No Comments
March 31, 2016
Surveying Financial Well-Being
The Consumer Financial Protection Bureau has issued a notice and request for comment on the Financial Well-Being National Survey. The CFPB is asking for comments on (a) Whether the collection of information is necessary for the proper performance of the … Continue reading
March 31, 2016 in Regulation | Permalink | No Comments
