Banco Popular de Puerto Rico

Community banks and consumer advocates are clashing over a provision in the Senate banking bill on mortgage data reporting, but there’s been little vetting of what the measure would actually do.

No individuals have been named in connection with the bank’s recent misdeeds, which resulted in a $1 billion fine, even as some senior leaders stand to gain from the government’s tax cut.

The legislation carves out protections for smaller banks to offer abusive loans to borrowers under the "qualified mortgage" standard, as long as they hold those loans in portfolio.

As policymakers take another crack at housing finance reform, federal leaders and the housing lobby are once again perpetuating the false notion that ending government guarantees would cause the 30-year, fixed-rate mortgage to vanish.

News that the GSEs need an infusion from Treasury to cover quarterly losses underscores problems with the government’s 2012 decision to “sweep” the housing giants’ profits.

Supporters say pending legislation would help consumers with little or no credit history. But the bill would instead roll back key consumer protections.

A provision to remove new mortgage recordkeeping requirements would help overburdened community banks lend without disrupting data collection that is used to police discrimination.

The reserve bank's proposal to address banks and nonbanks that remain "too big to fail" does not include two of the largest such institutions: Fannie Mae and Freddie Mac.

Automating the mortgage process will force tighter margins, but drive higher volume, for lenders.

Despite having a qualified candidate ready to serve, Senate leadership on both sides of the aisle have ignored their responsibility to vote on Brian Montgomery's nomination as Federal Housing Administration commissioner.