Thomas Ressler

Due Diligence in Vetting Vendors Critical to QM Compliance

August 15, 2013

Michael Chan, vice president of ComplianceEase, has come up with a check-list that should be part of every lender's due diligence effort.

Short Takes: Going, Going, Gone: GSE Buybacks? / CapWest Enters the Wholesale Arena / Redwood About to Reward Its Executives? / The Terrible Twos for the CFPB / Fannie Mae Hired Someone It Was Suing

August 14, 2013

Paul Muolo and Thomas Ressler

It would appear that the GSE buyback scourge may be winding down. Meanwhile, Fannie Mae has egg on its face over someone it hired.

Fair Lending Considerations Important to QM Points-and-Fees Calculation

August 9, 2013

Thomas Ressler

Lenders would be well served to periodically re-assess the fair lending impact of their policies especially in regard to the qualified mortgage rule.

Fannie, Freddie Dataset to Support CFPB Closing Documents

August 9, 2013

Thomas Ressler

Fannie Mae said that, assuming publication of the CFPB final rule comes in the fall, more information will be available later in 2013 on implementation plans.

Mortgage Broker Group Calls for QM to be Re-Proposed

August 6, 2013

Thomas Ressler

The NAIHP is concerned that "responsible consumers" may have been "intentionally" knocked out of the QM box.”

Housing Reform Bill Features Covered Bonds Provisions, at FDIC’s Expense

August 2, 2013

Thomas Ressler

The Federal Deposit Insurance Corp. would be prohibited from repudiating covered bonds when resolving a failed banking institution under the provisions of a controversial housing reform bill put...

House Republicans Target Ex-CFPB Staff

August 2, 2013

Thomas Ressler

House Financial Services Chairman Jeb Hensarling, R-TX, and House Oversight and Government Reform Committee Chairman Darrell Issa, R-CA, sent a letter to Consumer Financial Protection Bureau Director...