Michael Vitali presently serves as the chief compliance officer of LoanLogics, monitoring regulatory developments and their practical implications for lenders, servicers and vendors in order to support executive management in high-level strategic decision-making.
If your town cut back on the number of police officers who patrol your streets, would people suddenly start speeding and ignoring the traffic laws? Probably not, because it wouldn't be the safe thing to do. The same goes for financial regulations. While there’s been a lot of talk in Washington lately about rolling back, if not eliminating, many parts of the Dodd-Frank law, originators still need to keep their eyes squarely on producing quality loans.
President Donald Trump appointed Calabria to take the helm of the FHFA on December 12, 2018. The Senate then officially confirmed Calabria in April by a vote of 52 to 44 as head of the agency. Since then, Calabria has not been silent on his plan to reform the FHFA and the entities it oversees – Fannie Mae and Freddie Mac.