Compliance & Regulation

The high cost of preparing for both CFPB and state exams has a disproportionate impact on small independent mortgage banks that don't have the compliance economies of scale of larger lenders.

Just before members were removed from the consumer advisory board last month, acting Director Mick Mulvaney signed an amended charter that would shrink the panel to six members.

With ruling in GSE case, the two agencies are emerging as the test subjects for a legal showdown over their authority.

As part of a capital-formation bill, House lawmakers are attempting to sprinkle in a handful of provisions to ease the industry’s burden.

A federal appeals court in Texas agreed with Fannie Mae and Freddie Mac shareholders that the FHFA, led by a single director, violates the separation of powers.

Members of the panel and two other advisory boards were all terminated in June and told they could not reapply for their positions.

The collateral includes both QM and non-QM loans; however, certain loans are designated as QM even though the borrower’s DTI may be above 43%, due to a temporary exemption for GSE-eligible loans.

Fannie Mae and Freddie Mac may need to tap into U.S. Treasury funds when they adopt CECL, a new accounting rule that makes companies set aside money upfront for expected loan losses.

The California Democrat would have more of a bully pulpit as chair of the Financial Services Committee, but some say she could take a pragmatic approach to passing banking legislation.

A Fannie Mae test to handle the private mortgage insurance process for lenders may raise concerns that it's going outside the scope of its secondary market mission. But the effort reflects its mandate to explore new credit-risk transfer alternatives, a company executive said.