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Freddie Starts the Wheel Rolling on Employee Buyouts. Fannie?

December 19, 2019
Dennis Hollier and Paul Muolo

Freddie Mac, following in the footsteps of Fannie Mae, is offering buyouts to a portion of its workforce. A byproduct of the recap-and-release plan? It certainly looks that way.


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CRA Reform Proposal to Target Mortgage Activity

December 19, 2019
Yemeng Yang

The proposed changes to the Community Reinvestment Act are intended to prevent banks from receiving credit on mortgages to wealthy people living in low-income areas.


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Fairholme Order Unsealed: All Direct Claims Dismissed

December 19, 2019
Dennis Hollier
In a partial ruling, the U.S. Court of Federal Claims has allowed a collection of lawsuits challenging the net-worth sweep to go to trial.
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FHFA Proposed Rule to End Stress Tests for FHLBanks

December 19, 2019
Dennis Hollier
The FHFA has proposed a rule that would exempt the Federal Home Loan Banks from conducting stress tests required by the Dodd-Frank Act.
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Sterling Suspends Non-QM Program, Fires LOs, Vows Return

December 19, 2019
Paul Muolo
Sterling Bancorp’s non-QM program is under the microscope because of documentation problems. But there are no losses. Stay tuned.
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Federal Regulators Studying Risks Posed by Nonbanks

December 12, 2019
Brandon Ivey

The Financial Stability Oversight Council noted the risks posed by nonbank mortgage firms in its latest annual report. But are FSOC's concerns overblown? Trade groups weigh in, as does Treasury Secretary Mnuchin.


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Senate Panel Gives Monty the Greenlight for Key HUD Post

December 12, 2019
George Brooks

Industry veteran Brian Montgomery this week moved a little closer to getting the No. 2 job at HUD after the SBC gave him the thumbs-up. Next stop: the full Senate.


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Calabria Says He's Reduced GSE Risk. More to Come?

December 12, 2019
Dennis Hollier

The nation's GSE regulator meets the Federalist Society: “What we’ve been able to do in the eight months that I’ve been here is cut the percentage of business that has multiple risk factors in half."


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Feds Cautiously OK Use of 'Alt' Data in Underwriting

December 12, 2019
Yemeng Yang

Financial regulators are backing “responsible use” of alternative data in loan underwriting but there are still many uncertainties, particularly in the world of residential finance. More to come? Indeed.


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CFPB Eyes Changes to Consent Order Termination

December 5, 2019
Yemeng Yang

The powerful consumer regulator is working on a plan to identify ways to improve the consent order process. The idea: release so-called "reformed" players from the regulatory burden of CO prison.


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