Federal banking regulators should make a number of adjustments to proposed net stable funding ratio requirements, according to the Structured Finance Industry Group and other industry participants. The Federal Deposit Insurance Corp., the Federal Reserve and the Office of the Comptroller of the Currency issued the NSFR proposed rule in April, following standards set by the Basel Committee on Banking Supervision. Comments on the proposed rule were due late last week. The NSFR addresses...
JPMorgan Chase is a step closer to settling a dispute with Deutsche Bank and the Federal Deposit Insurance Corp. over certain mortgage securitization agreements in connection with the government’s takeover of failed mortgage lender Washington Mutual. According to Chase’s most recent 10-Q filing with the Securities and Exchange Commission, the firm, Deutsche Bank and the FDIC have signed a term sheet to resolve pending litigation brought by the German bank against Chase and the FDIC in relation to WaMu as well as Chase’s outstanding indemnification claims pursuant to the terms of the purchase-and-assumption agreement with the FDIC. The term sheet is subject...
A federal judge rejected efforts by the government to keep a new batch of official memos and other documents from being disclosed in the ongoing legal war over the terms of the conservatorships of Fannie Mae and Freddie Mac. U.S. Court of Federal Claims Judge Margaret Sweeney released a new set of documents that included a brief excerpt of former White House housing policy expert Jim Parrott’s deposition from January, a presentation from the Federal Housing Finance Agency in 2008 and several memos dating back to 2008 and 2012. Sweeney rejected...
The proposed rule from the Consumer Financial Protection Bureau addressing the TILA-RESPA Integrated Disclosure rule will likely help the non-agency market, according to industry participants. However, there’s also some frustration that the CFPB didn’t do as much as it could have to address cures and assignee liability. Industry attorneys note that if enough comments are submitted on the issues, the CFPB might make further changes to TRID. The changes proposed by the CFPB ...
According to figures compiled by Inside The GSEs, Fifth Third doesn’t even rank among Fannie’s 40 largest customers and sells almost 70 percent of his home mortgages to Freddie Mac, based on July data.
Earlier in the week, candidate Trump warmed the hearts of banking and financial services executives everywhere when he said he would propose a moratorium on all new financial regulations…