Browse articles from all of our Newsletters related to OCC.

February 17, 2017 - Inside MBS & ABS

OCC’s Denial of Favorable Capital Treatment for Chase Portfolio Risk-Transfer MBS May Deter Others

The Office of the Comptroller of the Currency’s denial of favorable capital treatment to a non-agency MBS issued by JPMorgan Chase last year could hinder efforts aimed at convincing banks to return to the non-agency MBS market, according to industry analysts. JPMorgan Chase issued two unique non-agency MBS last year with a total unpaid principal balance of $4.53 billion. The so-called portfolio risk-transfer deals accounted for a whopping 48.6 percent of the prime non-agency MBS issued in 2016. Chase packaged...

February 10, 2017 - Inside MBS & ABS

Fintech Panel Navigates the Pros and Cons Of OCC Charter, Marketplace Lending

The proposal by the Office of the Comptroller of the Currency to create a special-purpose national bank charter for financial technology companies, including marketplace lenders, stirred up significantly different views during a panel discussion sponsored this week by the Brookings Institute. “The fact that this charter will be designed as one not to support innovation, but to support the biggest and most well-funded players, ends up being bad for consumers because it tilts the market against the true innovators,” said Margaret Liu, senior vice president and deputy general counsel for the Conference of State Bank Supervisors. But, Richard Neiman, head of regulatory and government affairs for Lending Club and former New York state banking commissioner, said...

February 9, 2017 - Inside Mortgage Finance

Trump Exec Order Puts Dodd-Frank in Crosshairs; No Immediate Impact, Sets Table for Future Action

President Trump late last week signed an executive order laying out his “core principles” for regulating the U.S. financial system, and giving the head of the Treasury Department 120 days to detail how the current massive regulatory regime measures up. Trump’s core principles include fostering informed consumer choices, preventing bailouts, promoting economic growth, tailoring regulations and ensuring regulatory accountability. The broadly-worded order specifies, “Nothing in this order shall be construed to impair or otherwise affect ... the authority granted by law to an executive department or agency, or the head thereof.” The order was...

January 30, 2017 - Inside the CFPB

Also in Brief: Other Regulatory News

OCC Revises CRA Asset Thresholds for Small and Intermediate Small Banks and Savings Associations. Earlier this month, the Office of the Comptroller of the Currency revised the asset-size threshold amounts used to define “small bank,” “small savings association,” “intermediate small bank,” and “intermediate small savings association” under the Community Reinvestment Act. ... OCC Adjusts Civil Money Penalties for Inflation. Late last week, the Office of the Comptroller of the Currency announced it was adjusting the maximum amount of each civil money penalty within its jurisdiction. ...

January 27, 2017 - Inside MBS & ABS

ABS Participants See Benefits in OCC’s Potential Regulation Of Marketplace Lenders, State Regulators Strongly Oppose

Marketplace lenders could benefit from the development of special-purpose national bank charters for financial technology companies under consideration by the Office of the Comptroller of the Currency, according to ABS participants. However, the proposal has been met with strong opposition from state regulators, as it would preempt state oversight of certain nonbanks. In December, the OCC requested comments about a potential special-purpose national bank charter for so-called fintech companies, including marketplace lenders. The Structured Finance Industry Group endorsed...

January 26, 2017 - Inside Mortgage Finance

Trump Imposes a Freeze on New Regulations, Immediate Effect on Mortgage Rules Unclear

The new administration of President Trump wasted no time in trying to fulfill his campaign promise to roll back the tide of regulation, issuing on the day of his inauguration a freeze on new and pending regulations from executive agencies of the U.S. government. What effect this will have on mortgage lending regulation is unclear, at this point, but it’s likely to be temporary, industry insiders agree. According to a memo issued by White House Chief of Staff Reince Priebus, unspecified “executive departments and agencies” were...

January 16, 2017 - Inside the CFPB

HSBC Slammed With $33 Million Fine Over Flawed Foreclosures

The Office of the Comptroller of the Currency recently fined HSBC $32.5 million for failure to correct faulty foreclosure practices in a timely manner as per a consent order originally issued back in 2011 to correct practices that harmed borrowers in the wake of the housing market’s collapse. The OCC also said the institution failed to file payment change notices (PCN) that complied with bankruptcy rules, which resulted in roughly $3.5 million in borrower remediation for approximately 1,700 mortgage loan accounts. “The bank’s untimely and missed PCN filing practices did not comply with bankruptcy rules, required the bank to undertake operational enhancements to achieve compliance, and were unsafe and unsound practices,” according to the consent order. The bank neither admitted ...


With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.
Yes, by a lot.
Yes and, heck, we may even do non-QM lending.
No, not at all.
No and we may even tighten credit.

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