Browse articles from all of our Newsletters related to OCC.

September 7, 2017 - Inside Mortgage Finance

Some Banks Expected to Benefit From Proposed Delay In Tougher Capital Rule for Mortgage Servicing Assets

A proposal by federal regulators to delay tougher capital requirements for mortgage servicing assets will have a “marginally positive impact” on banks subject to the proposal, according to banking regulators. Near the end of August, the Office of the Comptroller of the Currency, the Federal Reserve and the Federal Deposit Insurance Corp. issued a proposed rule that would extend the current treatment on mortgage servicing rights and related assets, delaying tougher standards established by Basel III. The proposal would apply to banks that aren’t subject to the “advanced approaches” capital rules – generally banks with less than $250 billion in total assets. “For small banking organizations that have significant amounts of MSAs ... the proposal could...

September 1, 2017 - Inside Nonconforming Markets

News Briefs

Redwood Trust is preparing to issue its first non-agency mortgage-backed security backed by “expanded prime” mortgages. In the second quarter, Redwood acquired approximately $240.0 million of such mortgages, which have somewhat looser underwriting standards than what’s typically seen in the jumbo MBS market. Clayton Holdings reviewed 417 mortgages for the planned issuance, according to documents filed Aug. 30 with the Securities and Exchange Commission. The total unpaid principal balance of the loans wasn’t disclosed. The deal will include...

August 28, 2017 - Inside the CFPB

Servicers Can Continue to Expect Vigorous Regulation, Analysts Say

There may be plenty of uncertainty about the direction of the CFPB these days, given that Republicans are calling the shots on Capitol Hill and at the White House, plus the fact that Richard Cordray’s days as director of the bureau are numbered, regardless of when he actually ends up departing. Still, mortgage servicers can continue to expect robust supervision and regulation – and enforcement –if not from the bureau, then from another federal regulator, as well the states, and maybe all of the above, according to Steven Frie and Mark Shannon, top servicer analysts at S&P Global Ratings. “It’s been pretty common knowledge that the CFPB has been very active in regards to regulating the mortgage servicing industry,” Frie said ...

August 28, 2017 - Inside the CFPB

FFIEC Issues HMDA Examiner Transaction Testing Guidelines

The CFPB and the other members of the Federal Financial Institutions Examination Council last week issued new examiner transaction testing guidelines for all financial institutions that report under the Home Mortgage Disclosure Act. The rules will apply to the examination of HMDA data collected starting in 2018 and reported beginning in 2019. The guidelines eliminate the file-error resubmission threshold under which a financial institution would have to correct and resubmit its entire Loan Application Register (LAR) if the total number of sample files with at least one error reached or exceeded a certain threshold, the bureau said. They also establish allowable tolerances for certain data fields for the purpose of counting errors toward the field-error resubmission threshold.Additionally, they provide ...

August 24, 2017 - Inside Mortgage Finance

OCC Spells Out Requirements for High-LTV Lending Programs in Communities Targeted for Revitalization

The Office of the Comptroller of the Currency this week issued guidance to banks regarding originations of loans with loan-to-value ratios of 100 percent or more in distressed communities marked for revitalization. The guidance is in support of banks’ attempt to revive neighborhoods that have suffered an economic downturn through programs that offer high-LTV financing for home purchases or for purchases and rehabilitation of residential properties. Specifically, the guidance provides...


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