Recent regulatory guidance is not meant to force banks and thrifts to "cut back" on their commercial real estate lending, according to Comptroller of the Currency John Dugan.The proposed guidance is designed to ensure that institutions with high concentrations of CRE loans have the risk management and capital necessary to address the increased risk, Mr. Dugan told the New York Bankers Association. "We' re not talking about expertise or capital levels that are out of reach or impractical for community and midsize banks -- because many of you already have both," the comptroller said. The comment period on the proposed CRE guidance ends April 13, but the Conference of State Bank Supervisors has already submitted a highly critical comment letter arguing that the guidance imposes an "unnecessary burden" on institutions. "Regulatory guidance should not chase banks from a business line where they understand the market and risks," the CSBS says.
-
The RMBS notes benefit from geographic diversity and credit enhancement.
8h ago -
A Consumer Financial Protection Bureau "waives any alleged noncompliance" by the mortgage company while continuing to dole out redress to borrowers.
8h ago -
Refinance apps made up more than 40% of all mortgage applications last week, driving an uptick as consumers seek out cheaper mortgage payments.
11h ago -
The chairman and regulator of Fannie Mae and Freddie Mac pointed to Jermone Powell's recent testimony about renovations to the Federal Reserve's headquarters.
11h ago -
It's a rare theft of trade secrets complaint by the industry leader, which stayed out of the spate of litigation between competitors during the refinance boom.
July 2 -
Navy Federal Credit Union will not pay a $15 million fine or $80 million in restitution to service members who were illegally charged surprise overdraft fees when their accounts had sufficient funds.
July 2