August 12, 2014
Fannie+Freddie=FRANNIE?!?
The Federal Housing Finance Agency (FHFA) has posted a Request for Input on “the proposed structure for a Single Security that would be issued and guaranteed by Fannie Mae or Freddie Mac.” The FHFA’s press release states that The Single … Continue reading
August 12, 2014 in Regulation | Permalink | No Comments
August 11, 2014
Reiss on The Future of the Private Label Securities Market
I have posted The Future of the Private Label Securities Market to SSRN (as well as to BePress). I wrote this in response to the Department of Treasury’s request for input on this topic. The abstract reads, The PLS market, … Continue reading
August 11, 2014 in Regulation | Permalink | No Comments
August 8, 2014
Conservative Underwriting or Regulatory Uncertainty?
Jordan Rappaport (Federal Reserve Bank of Kansas City) and Paul Willen (Federal Reserve Bank of Boston) have posted a Current Policy Perspectives,Tight Credit Conditions Continue to Constrain The Housing Recovery. They write, Rather than cutting off access to mortgage credit … Continue reading
August 8, 2014 in Regulation | Permalink | No Comments
August 6, 2014
Testing The CFPB’s New Financial Literacy Tools
The Consumer Financial Protection Bureau has announced the launch of its “new online toolkit called Your Money, Your Goals, a comprehensive guide to empowered financial decision-making that covers topics like budgeting daily expenses, managing debt, and avoiding financial tricks and … Continue reading
August 6, 2014 in Regulation | Permalink | No Comments
July 29, 2014
Good Data Makes Good Mortgages
The CFPB issued a proposed rule about increasing the quality of information that lenders report about mortgage applications. The press release regarding the proposed rule states that these changes will ease the reporting burden on lenders, and that may very … Continue reading
July 29, 2014 in Regulation | Permalink | No Comments
July 25, 2014
Financial Literacy Rehash
The Consumer Financial Protection Bureau released its second Financial Literacy Annual Report. In blogging about last year’s report, I noted that the CFPB assumed that financial education worked more than research had shown it to work. Unfortunately, this report seems … Continue reading
July 25, 2014 in Regulation | Permalink | No Comments
July 22, 2014
Risky Cash-Out Refis
Anil Kumar of the Dallas Fed has posted Do Restrictions on Home Equity Extraction Contribute to Lower Mortgage Defaults? Evidence from a Policy Discontinuity at the Texas’ Border to SSRN. The abstract reads Given that excessive borrowing helped precipitate the … Continue reading
July 22, 2014 in Regulation | Permalink | No Comments
