Browsing: Mortgage

Mortgage

As the federal banking agencies undertake a mandated review of the “qualified residential mortgage” definition and related provisions of the credit risk retention rule, the American Bankers Association and several other financial and housing groups yesterday emphasized their strong support for the “continued alignment of the QRM and [Qualified Mortgage] frameworks,” in light of the CFPB’s recently finalized QM rule, noting that not doing so would unnecessarily restrict credit, particularly to low- to moderate income borrowers.

Mortgage

Ensuring that Fannie Mae and Freddie Mac have bank-like resolution plans in place in the event the Federal Housing Finance Agency is appointed receiver “enhances the integrity of the entire Dodd-Frank orderly resolution system,” FHFA Director Mark Calabria said today during remarks at a Brookings Institution event today.

Compliance and Risk

The American Bankers Association yesterday offered several changes to a recent proposal by the Consumer Financial Protection Bureau to facilitate streamlined loan modification efforts and establish a temporary COVID-19 emergency pre-foreclosure period under Regulation X that would prohibit servicers from making the first notice or filing required to initiate foreclosure until Dec. 31.

1 2 3 15