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
March 15, 2013
Unhampered and HAMPered Mortgage Modifications
The National Consumer Law Center has issued a thorough report, At a Crossroads: Lessons from the Home Affordable Modification Program (HAMP), which also provides some guidance for the way forward after we get past the foreclosure crisis. The authors summarize … Continue reading
March 15, 2013 in Regulation | Permalink | No Comments
March 8, 2013
Wrapping up America’s Housing Future
This is my last post (see here and here for the first two) on the Bipartisan Policy Center’s Housing America’s Future report. I have one last thought to share — a radical one at that. The report takes for granted … Continue reading
March 8, 2013 in Regulation | Permalink | No Comments
March 7, 2013
Should CFPB Be a Nudge?
Cass Sunstein, until recently the Administrator of the White House Office of Information and Regulatory Affairs, has posted an early draft of Nudges.gov: Behavioral Economics and Regulation. While it touches on real estate finance only indirectly, it provides a nice … Continue reading
March 7, 2013 in Regulation | Permalink | No Comments
March 6, 2013
The Financial (Mis)Education of Lauren Willis
Lauren Willis has posted Financial Education: Lessons Not Learned and Lessons Learned. This is a sobering, even depressing, overview of what we know about the efficacy of financial education. This is an extremely important topic because the CFPB has identified … Continue reading
March 6, 2013 in Regulation | Permalink | No Comments
March 5, 2013
Reiss on Fannie and Freddie Multifamily Contraction
GlobeSt.com interviewed me (and others) about Federal Housing Finance Agency Acting Director Edward J. DeMarco plans to reduce Fannie and Freddie’s multifamily finance volume by 10% from last year’s levels: Also consider this, says David Reiss, a professor of Law … Continue reading
March 5, 2013 in Regulation | Permalink | No Comments
