The devil is in the mortgage finance reform details

The devil is in the mortgage finance reform details

On the bumpy road to a common securitization platform

Housing shouldn’t look at any color but the color of money

People with bad credit and bad habits should be squeezed out of housing

Who is Nat Hardwick?

Former LandCastle Title CEO owns NASCAR team, rubs elbows with PGA pros
W S

Items Tagged with 'Dodd-Frank'

ARTICLES

Mortgages: Has Dodd-Frank failed?

Industry needed its 250 new standards
Daren Blomquist and Peter Miller

The need for Wall Street Reform arose precisely because the financial industry was under-regulated. No less an authority than Alan Greenspan, the former head of the Federal Reserve and chief architect of the less-regulation approach, told Congress in 2008 that “those of us who have looked to the self-interest of lending institutions to protect shareholders equity, myself included, are in a state of shocked disbelief.” 


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Insurers find Dodd-Frank loophole

Argument still up for debate
Brena Swanson
When looking at the fine print of Dodd-Frank, regulators may have some wiggle room when it comes to whether they can look to credit ratings, and therefore state-insurance rules.
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Federal regulators order big banks to fix “living wills”

Bank of America, JPMorgan Chase, others told to fix bankruptcy plans
Ben Lane
"The living wills before us fail to fully acknowledge these issues and ignores other operational issues," said Thomas Hoenig, FDIC vice chairman. "They demonstrate little ability to cope adequately with failure without some form of government support. The economy would almost surely go into crisis."
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From HW Magazine

Meeting the Challenge

The CFPB integrated mortgage disclosure rule looms large
Dan Sogorka
The CFPB Integrated Mortgage Disclosure Rule (IMD Rule), which was issued November 20, 2013, and takes effect August 1, 2015, is a sweeping reform intended to benefit consumers and that will have broad industry impacts on how mortgages are manufactured within loan production environments.
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Bank of America Merrill Lynch concludes Dodd-Frank killed housing

Not coming back to life soon, either
Jacob Gaffney
“In testimony to Congress on QRM, Mr. Frank noted changing the US residential mortgage market was foremost among the very purpose of the statute,” said analysts Flanagan and Katz. And change that market it did — by sucking the life out of it.
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Before you judge Dodd-Frank...

Urban Institute: "Can we really calculate the cost?"
Brena Swanson
Now four years old, Dodd-Frank is struggling to measure up to its original design. But according to the Urban Institute, before disregarding Ddd-Frank as a fail, understand that it is complex and difficult law.
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CHLA challenges FHFA IG report on risk from smaller nonbank lenders

Report lacks evidence to support claims, ignores other key factors
Trey Garrison
The Community Home Lenders Association is challenging the Federal Housing Finance Agency IG report issued last week which had raised concerns about risks to the GSEs from increased loan purchases from smaller nonbank mortgage lenders.
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Mr. Frank goes back to Washington

Former Congressman to testify before Congress on Dodd-Frank impact
Ben Lane
"The kind of terrible mortgage loans…the abuse of mortgage loans that hurt consumers, hurt financial institutions, and hurt the economy…we outlawed them and they haven’t been made since then," former Congressman Barney Frank said in a CNBC interview. "There have been some very real accomplishments."
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Happy 4th birthday Dodd-Frank! Everyone hates you

How effective has Dodd-Frank really been?
Ben Lane
"As a Davis Polk & Wardwell LLP progress report on the legislation indicates, the deadlines for 280 rulemaking requirements have passed, as of July 18," analysts from SNL Financial write in a new report. “Of those, 127 deadlines were missed. Of the 398 total required rulemakings contained in the bill, 96 have yet to be proposed."
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Robbing...er, Regulating banks is where the money is

CFPB's HR trainee starting salary: $110,759
Trey Garrison
Gentleman bank robber Willie Sutton is famously (and incorrectly) remembered for saying he robbed banks “because that’s where the money is.” Turns out though, the real money is in being a bank regulator.
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