In a letter to newly confirmed CFPB Director Rohit Chopra, CHLA asked CFPB to close the loophole under which bank mortgage loan originators are exempt from having to pass the SAFE Act test, pass an independent background check, take SAFE Act pre-licensing courses and take 8 hours of SAFE Act continuing education each year.

CHLA submitted a detailed letter to Ginnie Mae asking it to scrap the proposed increased financial requirements and risk-based capital rule – or rework them to focus on larger issuers, where most of Ginnie Mae’s risk is.

Read the Letter Here In a strong joint letter to Treasury, FHFA, and Fannie Mae, CHLA called on these entities to take action to reverse Fannie Mae actions to reduce the percentage of certain lenders’ investor/second home loans to 3%, highlighting the negative impact on smaller lenders.

CHLA writes HUD Secretary Fudge to renew its longstanding call to end FHA premiums for the Life of the Loan – citing new 3% caps on so-called “higher risk’ Fannie/Freddie refi loans as a factor in exacerbating the negative impact by closing off an important exit for many from Lifetime premiums.