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.
The Consumer Financial Protection Bureau plans to propose a rule to delay the mandatory start date of the general QM final rule. The agency is also considering revisiting the new seasoned QM rule via rulemaking.
Attorney Brian Johnson of Alston & Bird: "It is entirely possible that under new leadership the agency would choose to adjust or rescind certain aspects [of the rule]...”