The Structured Finance Industry Group formed as a non-profit company about a month ago and is working to set up an infrastructure to compete with the American Securitization Forum. The group said its initial efforts will focus on hiring an executive director, advocacy and arrangements for an industry conference. The SFIG was formed by major securitization industry players frustrated with the governance of the ASF. While the SFIG has been careful not to publicly compare itself with the ASF, three of the SFIG’s four initial officers were previously board members of the ASF and the group shares a number of goals with the ASF. Reginald Imamura was named...
Twenty state regulators adopted uniform tests for mortgage loan originators on Monday, easing compliance for MLOs doing business in multiple states. State testing has been required since 2009 due to the Secure and Fair Enforcement for Mortgage Licensing Act.
A House Democrat proposes a bill to lower the cap on the Mortgage Interest Deduction. Meanwhile, could Sen. Sherrod Brown succeed Tim Johnson as Senate Banking Committee Chair?
Fannie Mae may be having second thoughts about selling nonperforming loans into the secondary market where cash-rich investors are waiting with bated breath.
In spite of the influx of new human resource assets, banking regulators have a mixed effectiveness when it comes to compliance with their own Dodd-Frank obligations.
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