A lawyer by trade, Watt noted: “Unfortunately, legal constraints prevent me from saying much about this because we are in the period between the end of the comment period and the time we issue the final rule.”
“Had the proposal been implemented, it could have had a chilling effect on FHA lending, to the detriment of the borrowers served by the FHA program,” according to lawyers at K&L Gates.
The Collingwood Group, a Washington-based consultancy that built its practice on Ginnie Mae work and issues tied to the government-sponsored enterprises, has received approval from the Financial Industry Regulatory Authority to open a broker/dealer unit. The new division is called Collingwood Capital Advisors and will be headed by Mark DeGennaro, who joined TCG as a managing director in February 2011 to head what was then a new effort to build the consultancy’s hedge fund/private equity group. Although Collingwood Capital is now a registered broker/dealer, it will not be involved...