April 3, 2013
S&P’s Coy-ful Analysis of Basel Securitization Framework
S&P has long taken the public position that ratings from an NRSRO (like S&P or Moodys) should not be required. This position would seem to be against its own interest and thus be quite public spirited. Its recent Response to … Continue reading
April 3, 2013 in Regulation | Permalink | No Comments
April 2, 2013
Reiss on CFPB Complaint Database
E-Commerce.com has a story on this tempest in a teapot, Finance Companies Bristle at Public Airing of Consumer Complaints. It reads in part as follows: The angst of the finance industry isn’t universal, however. This database is evolutionary — not … Continue reading
April 2, 2013 in Regulation | Permalink | No Comments
March 29, 2013
Rating Agency Reform
Emily McClintlock Ekins and Mark A. Calabria have recently posted a policy analysis to SSRN, Regulation, Market Structure, and Role of the Credit Rating Agencies. They argue, as others have before them, that the major rating agencies are an oligopoly. … Continue reading
March 29, 2013 in Regulation | Permalink | No Comments
March 25, 2013
Building a Model for Housing Finance
Following up on Friday’s post, I want to discuss Chambers, Garriga and Schlagenhauf’s draft that they recently posted to SSRN (free here). It presents some interesting historical analogies to the issues we face as we attempt to chart a new … Continue reading
March 25, 2013 in Regulation | Permalink | No Comments
March 22, 2013
Goldilocks Homeownership
It has only been since the housing bust have we had a serious conversation about how much homeownership is just the right amount. Mostly, the federal government (under both Democrats and Republicans) has pushed for more, more, more without regard … Continue reading
March 22, 2013 in Regulation | Permalink | No Comments
March 19, 2013
Reiss on CFPB’s New Escrow Rules
The CFPB Journal interviewed me here about the new five year escrow requirement for Higher-Priced Mortgage Loans (HPMLs): According to David Reiss, professor of law at Brooklyn Law School, the text of the Dodd-Frank Act itself requires the five-year escrow … Continue reading
March 19, 2013 in Regulation | Permalink | No Comments
March 18, 2013
Reiss on Future of the FHFA
Law360 wrote a story (here, behind a paywall) on the Obama Administration’s plans for the Federal Housing Finance Agency. It reads in part Although the Obama administration has dealt aggressively with congressional Republicans in some areas, it’s unlikely to make … Continue reading
March 18, 2013 in Regulation | Permalink | No Comments
