Via a press release on the Fed’s Web site:

The Federal Reserve Board on Tuesday announced the discussion topics for its June 14 public hearing under the Home Ownership and Equity Protection Act (HOEPA). The purpose of the hearing is to gather information about how the Board might use its rulemaking authority to curb abusive lending practices in the home mortgage market, including the subprime sector, in a way that preserves incentives for responsible lenders to provide credit to borrowers.

Part of the discussion looks to center on whether the Federal Reserve should adpot rules similar to recently state-level legislation, in addition to the usual suspects: prepayment penalties, escrowing of taxes and insurance, stated income loans and consideration of qualifying at the fully-amortized rate.

Most Popular Articles

Fannie Mae, Freddie Mac watchdog prepping for "massive IPO"

The watchdog for Fannie Mae and Freddie Mac is interviewing Wall Street firms to handle a public offering that would dwarf any IPO in history, Fox says.

Dec 09, 2019 By

Latest Articles

Most lenders expect to keep making big money on mortgages

Recent data from the MBA revealed that lenders are now making more money per loan than they’ve made in almost seven years. And a new report from Fannie Mae suggests that most lenders believe they’ll keep making that much money per loan for the foreseeable future.

Dec 12, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please