The Conference of State Bank Supervisors has created a task force that is looking at ways to reduce the regulatory burden on state-licensed mortgage lenders."We are working very hard to closely evaluate rules and requirements that mortgage companies and related entities face," said CSBS senior vice president Montrice Godard-Yakimov. The group is "identifying specific areas where we can simplify existing rules," she said, and looking at ways to "harmonize" approaches across state lines. The state regulators want to enhance the value of state-licensed lenders in the wake of actions by the comptroller of the currency that have exempted the mortgage subsidiaries of national banks from state licensing and regulation. Ms. Godard-Yakimov noted that CSBS is working with the American Association of Residential Mortgage Regulators on the mortgage regulation project.
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The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
3h ago -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
4h ago -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
10h ago -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16 -
In a motion to dismiss UWM's suit, Ramon Walker argues the trademark infringement claim made by UWM is a "pretext to muzzle [his] criticism."
April 16 -
The Federal Reserve chair's comments coincide with the spring meeting of the International Monetary Fund and the World Bank Group in Washington. They also come as groups like the Basel Committee on Banking Supervision are being scrutinized.
April 16