In a review of the Federal Home Loan Bank system, the Federal Housing Finance Agency riled some mortgage industry participants by failing to endorse expanding FHLBank membership to include nonbanks.
New guidance from the Financial Stability Oversight Council makes it easier for FSOC to increase regulatory requirements for large nonbank financial companies. The move doesn’t sit well with the mortgage industry.
Cenlar, the largest subservicer in the mortgage industry, has been on a middle- and senior-manager hiring spree the past 18 months as it tries to meet the demands of an OCC consent order filed two-plus years ago.
Consumer Financial Protection Bureau Director Rohit Chopra recently advocated for a Community Reinvestment Act-like regime for nonbanks at the state level. Trade groups reiterated their opposition to such a move.
A hearing of the Federal Financial Institutions Examination Council’s Appraisal Subcommittee covered gaps in appraisal training and the lack of appraisers in rural areas.
Federal banking regulators issued a final rule updating the Community Reinvestment Act regulatory framework. Most of its provisions will become applicable on Jan. 1, 2026, or later.
It will be the 11th issuance of its type by loanDepot.
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