The MBA has called on federal agencies to ensure there is no disruption in the mortgage process stemming from the National Association of Realtors’ decision to settle a lawsuit related to agent commission practices.
Hunterbrook Capital is going after United Wholesale Mortgage, lobbing allegations and shorting stock in the nonbank; Michael Barr, vice chair for supervision at the Fed doesn’t find the rhetoric regarding bank capital requirements particularly useful; Ocwen plans to rebrand as Onity.
The Urban Institute, with funding from the National Fair Housing Alliance, has developed resources lenders can use to launch special purpose credit programs.
Don Layton applauded FHFA’s plans to reform the FHLBanks, arguing that it will take strong, independent supervision to prevent them from exploiting their government subsidy for private gain.
The CFPB is looking at various closing costs, raising concerns about a lack of competition. Trade groups representing mortgage lenders stress that closing costs are adequately disclosed and well regulated.
Industry trade groups as well as analysts believe the proposed waiver pilot is purely a political gesture and will, in fact, expose borrowers and lenders to financial risk.
The FHLBanks, like Fannie Mae and Freddie Mac, have a public/private structure that can incentivize private profits at public cost. Don Layton, former Freddie CEO, said the banks are ripe for reform.
Housing Secretary Fudge resigns; IRS postpones controversial changes to IVES; regulators to alter Basel capital proposal; banking regulators waive appraisal requirements in Maui; feedback sought on bank call-report proposal.
The approaching expiration of Treasury’s warrants on Fannie and Freddie stock and the possibility of a second Trump administration have revived debate on the potential end of the conservatorship of the GSEs.
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