Even though the delay was more or less expected, industry watchers said the CFPB’s plan to reconsider the revised general QM final rule throws the industry deep into regulatory uncertainty.
The Financial Data and Technology Association believes this is the best way to address companies’ concerns regarding third-party supervision issues associated with financial data access.
The Federal Reserve, the OCC and the FDIC need to work together to create uniform and consistent anti-redlining laws, according to the MBA and the CSBS.
In keeping with its stated priority of addressing discrimination, the CFPB recently sued bail bond company Libre for allegedly preying on immigrants held in federal detention centers.
The state’s Community Reinvestment Act and banking laws should be amended to include both nonbank mortgage lenders and banks, the state’s Department of Financial Services said in a recent report.
The CSBS believes networked supervision will give states new capabilities for managing risk and increasing data flow and partnership opportunities with states’ federal counterparts.
Regulatory examinations for loan servicers in California will now include a process to determine compliance with both state and federal laws regarding COVID-19-related foreclosures.
Good news for the commercial mortgage sector: CRE-related equity values are rising. Meanwhile, the MBA is optimistic about commercial real estate lending this year.