Nonbank

Federal Reserve Gov. Stephen Miran reiterated his view that monetary policy has become more restrictive than economists think, but expressed increased urgency that the central bank take strong corrective action.

Comptroller of the Currency Jonathan Gould said Tuesday that chartering compliant fintechs is "the only way" to level the playing field between banks and nonbanks. His comments come as the Office of the Comptroller of the Currency weighs new trust charters and stablecoin rules.

The Consumer Financial Protection Bureau is rescinding two rules issued under former CFPB Director Rohit Chopra that required nonbanks to register court orders, plus terms and conditions of contracts.

A proposed rule published Tuesday in the Federal Register would limit the Consumer Financial Protection Bureau's ability to designate nonbank entities for supervision.

A non-bank lender won't ever compete with a bank on price, but can offer flexible underwriting and faster origination times, according to a veteran originator.

The Consumer Financial Protection Bureau said it will not enforce or supervise nonbank financial firms that miss upcoming compliance deadlines for the nonbank registry of repeat offenders.

The Consumer Financial Protection Bureau's nonbank registry to address repeat corporate offenders goes live this week, but some experts have raised concerns about redundancy and costs for nonbanks.

The move may help address nonbank liquidity risks highlighted in a recent FSOC report, Sam Valverde, acting president, told attendees at an industry meeting.

A recommendation to give Ginnie Mae expanded authorities is drawing focus in the reactions to a Financial Stability Oversight Council report on nonbank risks.

Stakeholders are watching carefully as the 2023 crisis and a capital proposal increase banker wariness of mortgage assets, speakers at Invisso's MBS Forum said.

The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.

The memorandum creates channels for sharing information about nonbanks between the Federal Housing Finance Agency and the Conference of State Bank Supervisors.

Multiple mortgage companies are returning to the unsecured debt market for the first time since 2021, according to a new Fitch report. Here's why.

The agency reconfirmed the new nonbank capital rule won't become effective until late next year after inadvertently publishing an update with an earlier date.

The California Reinvestment Coalition, the group behind the assessment, is calling for increased nonbank oversight.

The Toms River-based lender was supposedly having liquidity issues, according to unconfirmed reports.

Non-depositories now dominate home lending, but many of these firms were untested until they had to grapple with the current rising rate environment. How they fare could significantly impact the rest of the mortgage market and, more specifically, the Government National Mortgage Association.

The most extreme example of FOMC interest rate market manipulation in 2020 to 2021 has now created a huge potential risk for lenders and investors, writes the chairman of Whalen Global Advisors.

Nonbanks would have to inform the CFPB of any state or local court decisions against them involving consumer financial products, under a new proposed rule. That information would be pooled with data about federal violations and be made available to the public.

Non-depository institutions originated an even greater share of all home loans compared to the year before, according to the Federal Financial Examination Council’s latest analysis of Home Mortgage Disclosure Act data.