REFinBlog

February 12, 2015

Realistic Strategies for Consumer Education

The Consumer Financial Protection Bureau has issued its latest Strategic Plan, Budget, and Performance Plan and Report. I was critical of last year’s strategic plan as it related to financial education. I felt that the CFPB was too optimistic about … Continue reading →

February 10, 2015

Risky Reverse Mortgages

The Consumer Financial Protection Bureau released a report, Snapshot of Reverse Mortgage Complaints:  December 2011-December 2014. By way of background, Reverse mortgages differ from other types of home loans in a few important ways. First, unlike traditional “forward” mortgages, reverse … Continue reading →

February 9, 2015

Reiss on $191B for Fannie & Freddie

GlobeSt.com quoted me in About that $191B Profit from the GSEs. It opens, Last week when the White House released its budget for fiscal year 2016, it included one eyebrow-raising line item: it assumed that Fannie Mae and Freddie Mac … Continue reading →

February 6, 2015

Here Comes The Housing Trust Fund

HUD has published an interim rule in the Federal Register to governing the Housing Trust Fund (HTF). The HTF could generate about a half a billion dollars a year for affordable housing initiatives, so this is a big deal. The … Continue reading →

February 5, 2015

Mortgage Shopping

The Consumer Financial Protection Bureau has issued a report on Consumers’ Mortgage Shopping Experience:  A First Look at Results from the National Survey of Mortgage Borrowers. The CFPB’s key findings include a. Almost half of consumers who take out a … Continue reading →

February 2, 2015

The Secret to Financial Well-Being?

The Consumer Financial Protection Bureau has issued a report, Financial Well-Being:  The Goal of Financial Education. I have been somewhat critical of the CFPB’s approach to financial literacy education, but I think that this report sets forth a pretty reasonable … Continue reading →

Monday’s Adjudication Roundup

S&P agrees to settlement of $58 million for fraudulent ratings on commercial mortgage-backed securities. SEC order regarding violations of Section 17(a)(1) of the Securities Act, Section 15E(c)(3) of the Exchange Act, and Exchange Act Rules 17g-2(a)(2)(iii) and 17g-2(a)(6). $6.2 million … Continue reading →