Regulation

Maxine Waters stumped for relief from provisions in a law she co-authored.
Lenders and Realtors are hailing a new law that delays flood insurance premium increases, but unless the government takes actuarially prudent measures, rising sea levels could cost taxpayers dearly.

The rock and hard place between which lenders have found themselves in regard to the use of hiring screens and disparate impact (in hiring) just got a bit softer.

"Please. Do no harm to the Federal Home Loan Bank System" is Jose Gonzalez's message to lawmakers working on GSE reform.
Jose Gonzalez, the first Hispanic president of a Federal Home Loan Bank, envisions eventually allowing new categories of lenders like REITs to join the system, but wants membership to stay as it is for now.

"We certainly have the interest and the appetite" to make more acquisitions, says Jimmy Timmons.
The homebuilder's mortgage unit, which mostly serves new homebuyers, has acquired retail originator Pinnacle Mortgage as part of an effort to spread the mounting costs of compliance over more loans.

Image: Thinkstock
Efforts to help underwater borrowers with second liens have had little success, and the Treasury's authority to create new homeowner aid programs under the Troubled Asset Relief Program has expired.

The Consumer Financial Protection Bureau prohibits actions aimed at circumventing loan officer compensation rules. One example was a lender who permitted teams of LOs to share commissions.

Bank of America Corp. should win dismissal of a U.S. Justice Department lawsuit accusing it of misleading investors about the quality of loans tied to $850 million in mortgage-backed securities, a judge said.

Image: Thinkstock
GSE regulator says Fannie and Freddie are responsible for monitoring servicers.

Image: Thinkstock
A New York startup vows to reduce risk and bring transparency and regulatory oversight to a much-hyped investment class.
Twitter
Facebook
LinkedIn
Already a subscriber? Log in here
Please note you must now log in with your email address and password.