How do you know when a mortgage cycle has reached its nadir? When originators produce loans at a loss. We’re not there yet but we could be close. Meanwhile, just because a lender announces a stock buyback that doesn’t mean it will happen.
The SEC has a proposed rule that would mandate climate-related disclosures. The Federal Housing Finance Agency and federal banking regulators are also incorporating climate-change assessments.
Despite a significant decline in indictments and convictions, the FHFA IG’s Office of Investigations secured more than six times as much in restitution than in the prior period.
The trade group said allowing companies using AVMs to adopt and maintain their own policies and practices would better recognize differing business models and levels of AVM usage.
FHA premium cuts are being closely analyzed by HUD while FHFA and Treasury have had no talks about reforming the GSEs through the PSPAs. MBA also pressed FHFA on LLPA changes for conforming jumbos and mortgages for second homes.
The Consumer Financial Protection Bureau has been authorized to hire an additional 20 full-time employees, most of them attorneys. The move comes as the bureau gears up for more vigorous enforcement activity, especially against repeat offenders.
About half of the FHFA officials who were supposed to review SEC filings of Fannie Mae and Freddie Mac for the second quarter of 2021 failed to appropriately certify accuracy.
While some of the White House’s latest measures are funded through previous legislation and codified into law, several actions rely on as-yet-unfunded proposals.
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