April 4, 2018
“Modernizing” the Community Reinvestment Act
The Trump Administration has been signaling its intent to do a makeover of the Community Reinvestment Act of 1977 (CRA) for quite a while, describing it as a much needed update. Last June, Treasury stated in its Banks and Credit … Continue reading
April 4, 2018 in Regulation | Permalink | 1 Comment
March 15, 2018
FinTech Disrupting The Mortgage Industry
Researchers at the NY Fed have posted The Role of Technology in Mortgage Lending. There is no doubt that tech can disrupt the mortgage lending business much as it has done with others. The abstract reads, Technology-based (“FinTech”) lenders increased … Continue reading
March 15, 2018 in Regulation | Permalink | No Comments
March 14, 2018
The Importance of Mortgage Data
Senate Bill 2155 is looking like it will be enacted and reduce the amount of data collected pursuant to the Home Mortgage Disclosure Act. The Federal Reserve Bulletin includes a report that demonstrates just how useful that data is, Residential Mortgage Lending … Continue reading
March 14, 2018 in Regulation | Permalink | No Comments
March 12, 2018
Nonbanks and The Next Crisis
Researchers at the Fed and UC Berkeley have posted Liquidity Crises in the Mortgage Markets. The authors conclusions are particularly troubling: The nonbank mortgage sector has boomed in recent years. The combination of low interest rates, well-functioning GSE and … Continue reading
March 12, 2018 in Regulation | Permalink | No Comments
March 9, 2018
De Facto Housing Finance Reform
David Finkelstein, Andreas Strzodka and James Vickery of the NY Fed have posted Credit Risk Transfer and De Facto GSE Reform. It opens, Nearly a decade into the conservatorships of Fannie Mae and Freddie Mac, no legislation has yet been passed … Continue reading
March 9, 2018 in Regulation | Permalink | No Comments
March 8, 2018
Sustainable Housing for FHA Borrowers
Donghoon Lee and Joseph Tracy of the NY Fed have posted a staff report, Long-Term Outcomes of FHA First-Time Homebuyers. It opens, The Commissioner of the Federal Housing Administration (FHA), David Stevens, in remarks delivered on December 12, 2009, defined the purpose of … Continue reading
March 8, 2018 in Regulation | Permalink | No Comments
March 6, 2018
Mortgage Insurers and The Next Housing Crisis
The Inspector General of the Federal Housing Finance Agency has released a white paper on Enterprise Counterparties: Mortgage Insurers. The Executive Summary reads, Fannie Mae and Freddie Mac (the Enterprises) operate under congressional charters to provide liquidity, stability, and affordability … Continue reading
March 6, 2018 in Regulation | Permalink | No Comments
