Articles by Sarah Wheeler

From HW Magazine

What will the mortgage industry look like with a new sheriff in town?

Ballard Spahr partner outlines what to expect under Trump
While other state and federal regulatory bodies overlap in their regulation of the mortgage industry, the very particular consumer focus of the CFPB is not duplicated by any other body. Will deregulation mean a return to the Wild West lending atmosphere that led to the financial crisis? What happens next? We asked John Socknat, partner at Ballard Spahr, to weigh in on what mortgage lenders and servicers can expect from a Trump administration.
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From HW Magazine

Hot Seat: Ralph Armenta of Alight

How continuous forecasting is especially important for independent mortgage banks
Mortgage banking is not the sleepy cottage industry of yesterday. Mortgage banks have evolved into highly competitive, real-time, geographically dispersed businesses that require firm owners, CEOs, CFOs and sales leadership to keep a finger on the pulse of the enterprise 24/7 to capitalize on opportunities and mitigate losses.
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Monday Morning Cup of Coffee: Trump's potential power play at the Fed

Homebuilders cheer the EPA's decision on stormwater requirements
Cabinet positions aren't the only areas of uncertainty under a Trump administration. With the next FOMC meeting set for Dec. 13-14, Fed watchers are speculating on what he plans to do with the Fed once in office. In an article on Sunday, The Hill outlined several Republican priorities that might now see daylight, including subjecting the Fed’s monetary policy decisions to outside review and requiring the central bank to adhere to rules in setting policy.
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How a Trump presidency will shock the mortgage industry

How long will the CFPB survive?
The PHH ruling that put the CFPB under the authority of the president seemed like a nonevent given a Clinton victory — it’s not like she was going to disband the regulatory agency birthed by Elizabeth Warren. Any change to the status quo was kicked down the road by at least four years. Except Trump won. And Republicans now control the Senate and the House. Read this expert commentary from HousingWire Editor Sarah Wheeler.
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What was Kevin Costner doing at MBA Annual? Swinging for the fences with his investment

Movie star's stake in Lender Price goes beyond being "a hood ornament"
Celebrity sightings aren’t unusual at mortgage industry conventions, but they usually involve keynote speakers or concert headliners. What is less common, even downright scarce, is the appearance of a bona fide movie star who has a real stake in a mortgage company and shows up to talk about it.
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Monday Morning Cup of Coffee: Prospects of a Trump presidency, and the good news in Detroit

Also, the scariest part of the OCC security breach
There are still about 30,000 vacant houses and buildings in Detroit as a result of manufacturing job loss and the foreclosure crisis. But a program funded by unions to renovate vacant houses in Detroit has been so successful that it's now being expanded to eight more Rustbelt cities, the AP reported on Sunday. All this and more in MMCC!
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Why we should quit wasting money on consumer education

Here are 3 better ideas for the $128 million in the CFPB's civil penalty fund
In the first part of September, the CFPB collected $100 million from Wells Fargo after it was revealed that the bank’s employees had opened 2 million fake accounts that customers didn’t know about. By law, the CFPB has only two ways to spend that money: compensating victims harmed by financial institutions and educating consumers. If you have hundreds of millions of dollars that can only be spent on consumer education, it’s easy to imagine how that goal could take on a life of its own, spawning a bloated consumer education complex overnight. Here are some better ideas.
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