While companies will inevitably have to reduce costs, industry analysts stress that it’s important that compliance policies and system remain updated and in-place.
Some banks continue to press the CFPB for a reporting exemption for small banks as the rule will create additional burdens on these banks who may get frustrated and end up selling or closing their businesses.
CFPB is investigating price gouging by private equity firms; litigation may occur between the bureau and JPMorgan Chase regarding Zelle payments; CFPB and other federal regulators release a proposed rule to standardize data submitted to federal financial agencies; CFPB proposes $3.0 million in penalties for credit repair issue.
High interest rates may mean lower acquisition volumes for the GSEs, but they also mean slower prepayment speeds for the mortgages in the agencies’ guarantee books of business. (Includes data table.)
Senate Democrats note that FHLBank Boston CEO Timothy Barrett received $3.1 million in compensation last year while the bank contributed just $2 million to its affordable housing program.
FHFA’s recent decision to waive loan-level price adjustments for the low-income financing programs of the GSEs means that borrowers can sometimes get lower interest rates through HomeReady and Home Possible than they can using traditional GSE financing.
Housing finance aficionados may doubt Fannie and Freddie will ever exit conservatorship, but that doesn’t stop them from telling you what that exit would look like.