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CFPB Finalizes Rule for Open Banking Standard Setters

June 17, 2024
Shannon Clark
The CFPB has outlined qualifications required by standard-setting organizations to be formally recognized as such. The move paves the way for the bureau’s upcoming personal financial data rights rule.
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Other News in Brief

June 17, 2024
Shannon Clark
CFPB sets likely date for implementation of its payday lending rule; OIG clears CFPB on civil penalty fund activities.
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Housing Advocates Recommend Changes to EHFPs

June 14, 2024
Dennis Hollier
Stakeholders say the GSEs’ proposed definition of “first-generation homebuyer” in their equitable housing-finance plans unfairly excludes many of the people the enterprises and the FHFA want to help.
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Warren Says FHLB System is ‘Broken,’ Calls for Reforms

June 14, 2024
Dennis Hollier
Sen. Elizabeth Warren, D-MA, has called for a significant increase in the FHLBanks’ required contribution to affordable housing. She also urged FHFA to change the membership eligibility requirements to encourage more housing and community development activities.
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Freddie CFO Lown to Step Down

June 14, 2024
Dennis Hollier
Freddie Mac CFO Christian Lown informed the board last week that he will step down at the end of this month. No reason was given for his departure, which was announced quietly via an SEC filing.
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GSEs Release 2025-2027 Duty-to-Serve Plans

June 14, 2024
Dennis Hollier
The Federal Housing Finance Agency has issued a request for information seeking industry comment on the GSEs’ plans to support underserved communities under their duty-to-serve obligations.
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Redesigned URAR Eliminates Form Numbers

June 14, 2024
Dennis Hollier
Fannie Mae said the new Uniform Residential Appraisal Report will depend on six new property characteristics data points to let users know what information to provide.
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Impact of Freddie’s Green Bond Program

June 14, 2024
Dennis Hollier
Properties backed by Freddie Green MBS issued in 2023 saved enough energy to power 2,051 homes for a year.
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How the GSEs Can Improve Rent Reporting Programs

June 14, 2024
Dennis Hollier
Industry veteran Michael Stegman wants Fannie Mae and Freddie Mac to be more transparent about the impact of their rent reporting pilots.
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Fannie Ramps Up CIRT Activity

June 14, 2024
Dennis Hollier
Fannie Mae last week notched its fifth Credit Insurance Risk Transfer transaction of the year, a $285 million deal covering a pool of 34,000 single-family mortgages.
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