Should nonbank mortgage firms be allowed to join the FHLB system? Hard to say, but if they gain access, the business of warehouse finance could be turned on its head. Or maybe not.
After a regulatory dispute over state licensing laws in Connecticut, a skeleton crew remains. But the firm is plotting a comeback, potentially in another state next year.
The CFPB plans to assess the effectiveness of the integrated mortgage disclosure rule, which is almost five years old. But be forewarned: It will not necessarily lead to elimination, or even modification.
The re-proposal means the industry can expect extensive revisions. Nevertheless, the FHFA said the move will not affect the timeline for the recap and re-lease of Fannie Mae and Freddie Mac.
Craig Phillips, the former Treasury point man on housing reform, told industry insiders that the recap and release of Fannie and Freddie should “really respect the rights of the current shareholders.”
Starting next week, mortgage loan originators that move from banks to non-banks or between states can operate with temporary authority. But there may be potential compliance risks, warned attorneys.
RSS