Friday, November 8, 2024

Word On The Street

Origination Protections Empower Hispanic Home Buyers

WORD ON THE STREET: Homeownership has long been the primary asset for most Americans, steadily building modest wealth that can leverage education, entrepreneurship...

A Breakdown Of The Fed’s Supervisory Activities

WORD ON THE STREET: Currently, the Federal Reserve supervises more than 5,000 bank holding companies and 825 state-chartered banks that are members of...

The FDIC’s Relationship With Community Banks

WORD ON THE STREET: The economic environment for banks and their borrowers is slowly recovering but remains challenging. As a result of continued...

The Importance Of Servicing In Relationship Banking

WORD ON THE STREET: Residential mortgage lending has been an important component of CorTrust Bank's business since its founding and has grown more...

The CFPB’s Impact On The Banking Industry

WORD ON THE STREET: The banking industry fully supports effective consumer protection. We believe that Americans are best served by a financially sound...

Accountable Or Not? A Look At The CFPB’s Oversight Provisions

WORD ON THE STREET: Many factors contributed to the crisis, but none more so than an orgy of unsound leverage in the home...

Unanswered Questions For The Federal Reserve

WORD ON THE STREET: While the Federal Reserve is still far less transparent than it should be, recent disclosures of its lending programs...

CFPB Weighs In On The Servicing Scenario

WORD ON THE STREET: The Consumer Financial Protection Bureau (CFPB) is not yet open for business. But on July 21, the CFPB will...

A Community Banker’s View Of Today’s Examination Process

WORD ON THE STREET: I am the president and chairman of a $250 million closely held community bank providing banking services to Sedgwick...

A Guide To SEC’s Securitization-Reform Agenda

WORD ON THE STREET: In the years leading up to the financial crisis, the nearly $10 trillion securitization market provided liquidity to almost...

The New Risk Agenda

WORD ON THE STREET: During the financial crisis, certain factors at work in the securitization markets distorted incentives for market participants in ways...

The Role Of Orderly Liquidation Authority

WORD ON THE STREET: Before the Dodd-Frank Act, the government did not have the authority to unwind large, highly leveraged and substantially interconnected...

Correcting The Flaw In The Rating System

WORD ON THE STREET: There is a fatal flaw in the rating product and process: It created a market that was too good...

Examining Lien-Position Conflicts

WORD ON THE STREET: Large, first-lien servicers have significant ownership interests in second liens and often have no ownership interest in the corresponding...

The Need For National Mortgage Servicing Standards

WORD ON THE STREET: The recent crash of the housing market and the rise of unemployment led to a historic surge in serious...

An Update On Reforms At The Federal Reserve

WORD ON THE STREET: The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) created the Financial Stability Oversight Council (FSOC) to...

Community Banks Are Still Facing An Uphill Struggle

WORD ON THE STREET: Over the past several months, my fellow state regulators and I have heard the very loud concerns of community...

The CRL On The Implications, Consequences Of Risk-Retention Proposal

WORD ON THE STREET: In our view, the proposed rule on risk retention would squander an opportunity to ensure that well-structured, responsibly underwritten...

MBA’s Cunningham On Risk-Retention Rulemaking

WORD ON THE STREET: It is no exaggeration to say that the proposed rule on risk retention will have profound effects on our...

Fleshing Out QRM Questions

WORD ON THE STREET: As this committee is aware, the U.S. Department of Housing and Urban Development (HUD) is one of six agencies...