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
January 30, 2013
Strategies to Improve the Housing Market
Boston Consulting prepared this Strategies to Improve the Housing Market report on behalf of The Pew Charitable Trusts. The report focuses “on practical solutions that can readily be implemented by industry, agencies, and regulators working within existing mandates, or by … Continue reading
January 30, 2013 in Regulation | Permalink | No Comments
January 29, 2013
Empirical Evidence of Predatory Steering in the Mortgage Market
Agarwal and Evanoff have released a draft of Loan Product Steering in Mortgage Markets. They sought to determine whether there was empirical support for the frequent anecdotes of credit steering in the literature about predatory lending. They find such support. … Continue reading
January 29, 2013 in Regulation | Permalink | No Comments
Federal Reserve Report on the 30 Year Fixed Rate Mortgage
Fuster and Vickery have posted Securitization and the Fixed-Rate Mortgage, a FRB of NY Staff Report. This paper brings some empirical research to the debate over the proper fate of the 30 year mortgage. Commentators are sharply divided over whether … Continue reading
January 29, 2013 in Regulation | Permalink | No Comments
January 28, 2013
GAO Report on Challenges for Financial Regulatory Reform
The GAO has issued a report, Financial Regulatory Reform: Regulators Have Faced Challenges Finalizing Key Reforms and Unaddressed Areas Pose Potential Risks. The report notes that kolyokbirodalom.hu/site/ A variety of challenges have affected regulators’ progress in executing rulemaking requirements intended … Continue reading
January 28, 2013 in Regulation | Permalink | No Comments
January 23, 2013
Levitin Gives Overview of CFPB
The extraordinarily prolific Adam Levitin has posted The Consumer Financial Protection Bureau: An Introduction. He concludes that the CFPB faces a constant challenge in terms of measuring and then balancing the consumer protection benefits from regulation with the costs of … Continue reading
January 23, 2013 in Regulation | Permalink | No Comments
