May 6, 2016
Arbitration and the Common Man
Arthur Miller, the playwright who brought us Death of A Salesman, wrote an essay titled Tragedy and The Common Man. It opens, In this age few tragedies are written. It has often been held that the lack is due to … Continue reading
May 6, 2016 in Regulation | Permalink | No Comments
May 2, 2016
Nonbank Servicers Pose Risks for Homeowners
The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) has released its Quarterly Report to Congress (April 27, 2016). The Report focuses on how nonbank servicers raise risks for homeowners participating in the Home Affordable Modification … Continue reading
May 2, 2016 in Regulation | Permalink | No Comments
April 28, 2016
Republicans Ready for GSE Reform?
Senator Shelby (R-AL), the Chair of the Senate Committee on Banking, Housing and Urban Affairs, sent a letter to the U.S. Government Accountability Office regarding the future of Fannie Mae and Freddie Mac, sometimes known as the “enterprises.” It provides an … Continue reading
April 28, 2016 in Regulation | Permalink | No Comments
April 25, 2016
TRID Trials
The Consumer Financial Protection Bureau issued the TILA-RESPA Integrated Disclosure (TRID) Rule which went into effect more than six months ago. The TRID Rule were designed to enhance consumer protections in the mortgage application process. The mortgage industry has been … Continue reading
April 25, 2016 in Regulation | Permalink | No Comments
April 22, 2016
Nonbank Mortgage Servicers and the Foreclosure Crisis
The United States Government Accountability Office has issued a report, Nonbank Mortgage Servicers: Existing Regulatory Oversight Could Be Strengthened. The GAO found that The share of home mortgages serviced by nonbanks increased from approximately 6.8 percent in 2012 to approximately 24.2 … Continue reading
April 22, 2016 in Regulation | Permalink | No Comments
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
