February 25, 2013
Regulating the Distribution of Home Equity
Ian Ayres and Joshua Mitts have posted Three Proposals for Regulating the Distribution of Home Equity which brings welcomed attention to the systemic risk implications of consumer protection regimes. In particular, they argue that the proposed Qualfied Residential Mortgage “rules … Continue reading
February 25, 2013 in Regulation | Permalink | No Comments
February 22, 2013
The GAO’s Take on The FHA
The Government Accountability Office issued an update to its 2013 HIGH-RISK SERIES. It had this to say about the Federal Housing Administration: a new challenge for the markets has also evolved as the decline in private sector participation in housing … Continue reading
February 22, 2013 in Regulation | Permalink | No Comments
Reiss on Qualified Mortgages and Fair Housing
Law360 ran Banks Fear CFPB Rule Could Spur Fair Lending Fights (behind a paywall) which asked for my thoughts: banks may be getting a bit ahead of themselves when it comes to worrying about how the fair lending law will … Continue reading
February 22, 2013 in Regulation | Permalink | No Comments
February 21, 2013
Reiss on Federal Housing Policy
Law360 ran a story on President Obama’s vision for America’s housing policy and asked for my reaction: For a piece of mortgage-related legislation to have any chance of passing, it has to require that a borrower pay some kind of … Continue reading
February 21, 2013 in Regulation | Permalink | No Comments
February 14, 2013
Misleading CoreLogic Report on Qualified Mortgage Rules
The Wall Street Journal reported (behind its paywall) uncritically on a recently released CoreLogic report about the supposed impact of the new Qualified Mortgage rules issued last month by the CFPB on the mortgage market. The report is very flawed. … Continue reading
February 14, 2013 in Regulation | Permalink | No Comments
February 11, 2013
CFPB Mortgage Disclosure Forms: Test And Verify
The CFPB is requesting comments relating to the collection of “information as part of quantitative research related to residential mortgage loan disclosures.” (8113) The purpose “of the quantitative testing will be to examine whether the disclosures aid consumers in understanding … Continue reading
February 11, 2013 in Regulation | Permalink | No Comments
February 4, 2013
More on CFPB Ability-To-Pay Rule
Attorney Robert Barnett asks whether the CFPB’s new Ability-To-Pay Rule is too rigid. He says that ‘the insistence on a solid 43 percent debt-to-income ratio will exclude many very solid applications from qualification as a Qualified Mortgage . . ..” … Continue reading
February 4, 2013 in Regulation | Permalink | No Comments
