August 25, 2015
- The Consumer Financial Protection Bureau (CFPB) has released a series of guides to managing someone else’s money or property in Virginia. There are four separate guides which cover: revocable living trusts, power of attorney, representative payees and fiduciaries, and court appointed conservators.
- The Federal Housing Finance Agency (FHFA) has released its Final Government Sponsored Entity (GSE) Affordable Housing Goals for 2015 – 2017. The Affordable housing goals apply to categories of mortgages including single family purchases, multifamily units with affordable rental units. The goals are expressed in percentages by income level.
- The FHFA has also proposed Amendments to the Stress Testing Rules to implement section 165(i) of the Dodd-Frank Wall Street Reform and Consumer Protection Act for FHA regulated entities including the GSEs, Fannie Mae and Freddie Mac. The Amendment would change the start of the stress testing cycle and the time frame for the FHFA to provide worst case scenarios by which the regulated entities would conduct testing and report results to the FHFA.