The Demographic Hurricane Makes Landfall
U.S. birth and marriage rates—and the life expectancy of its young people—are falling. How should banks respond to America’s demographic disaster?
Browsing: Mortgage
ABA, Groups Highlight TRID Burden Ahead of CFPB Assessment
As the Consumer Financial Protection Bureau prepares to conduct its five-year assessment of the 2013 TILA-RESPA Integrated Disclosure Rule, ABA joined several other financial trade groups in an extensive comment letter detailing how the rule has imposed significant and unnecessary costs and liabilities on lenders.
Trade Groups Raise Concerns About Changes to FHFA UMBS Pooling Practices
The American Bankers Association joined several housing and financial trade groups in a letter to the Federal Housing Finance Agency today highlighting concerns about recently proposed changes to uniform mortgage-backed security pooling practices used by Fannie Mae and Freddie Mac.
Kraninger Signals Extension for GSE QM Patch
As the American Bankers Association has long anticipated, CFPB Director Kathy Kraninger signaled in a letter to lawmakers last week that her agency will extend the temporary “GSE patch,” which grants Qualified Mortgage status to loans eligible to be purchased or guaranteed by Fannie Mae or Freddie Mac.
Bowman Concerned About Community Banks’ Exit from Mortgage Markets
Speaking to attendees at a mortgage industry event in Kansas City, Missouri, today, Federal Reserve Governor Michelle Bowman expressed optimism about the trajectory of the housing market but raised concerns about the declining number of community banks remaining in the consumer real estate mortgage market.
Giancarlo to Chair GSEs’ Common Securitization Solutions
The Federal Housing Finance Agency today announced that former Commodity Futures Trading Commission Chairman Christopher Giancarlo will serve as independent, non-executive chairman of the board of Common Securitization Solutions, a joint venture between Fannie Mae and Freddie Mac to support their uniform mortgage-backed security.
FHFA Weighs More Forceful Action on ‘Continued Threat’ of PACE Loans
Building on previous warnings about risks associated with home retrofitting loans financed through tax assessments, the Federal Housing Finance Agency is requesting public input on additional steps to deal with the “continued threat” that these loans pose to homeowners and the housing finance system.
Boston Fed President: Low Inflation Could Drive Reach for Yield
While the economic outlook in the near term remains positive, persistently low interest rates and continued economic growth could encourage investors to take chase yield by taking on more risk, Federal Reserve Bank of Boston President and CEO Eric Rosengren cautioned today.
Brainard Floats Fed’s Alternative Ideas on CRA Modernization
Federal Reserve Governor Lael Brainard, the agency’s point person for the Community Reinvestment Act modernization process, today outlined the Fed’s approach to revising CRA rules and explained why the Fed did not join the notice of proposed rulemaking issued last month by the OCC and the FDIC.
Podcast: A Continuous Cycle of Tech Investment at Regions Bank
As banking becomes ever more technology-driven, many banks are shifting from a mindset that puts big tech projects off to one side to one that embraces ongoing innovation, development and deployment. Regions Bank exemplifies the latter mindset.