Credit card telemarketers allegedly went off script in describing the benefits and charges of credit protection plans to coax consumers into receiving them. The move has implications for loan officers.
What might work better would be clarifying guidance on mortgage insurance premium rules, the meaning of bona fide discount points, and the rules for affiliate compensation.
A roundup of comments on our Editor at Large blog, from the best and brightest to the not-so-bright.
The proposed federal mortgage guarantor in the Senate reform bill needs 5% hard equity to protect taxpayers, but 10% capital to pass Congress, the Housing Policy Council's John Dalton reckons.
The Senate GSE reform bill may bloat the bureaucracy, encourage risky behavior and expose taxpayers to losses, without sufficient support for affordable housing. That could still be better than nothing.