CHLA offers comments regarding Ted Tozer’s blogpost proposal which would increase liquidity for Ginnie Mae IMB issuers.

The Community Home Lenders of America sent a letter reiterating its strong opposition to Intercontinental Exchange’s (ICE) proposed $13.1 billion purchase of Black Knight. The letter cites CHLA concerns over the merger’s potential anti-competitive and anti-consumer practices.

The Community Home Lenders of America (CHLA) has expressed its appreciation for the ongoing efforts of the Federal Housing Finance Agency (FHFA) in enhancing the credit score reporting process and expanding mortgage access with reduced costs in mortgage transactions.

CHLA responds to to the Financial Stability Oversight Council (FSOC) designating non-bank financial companies as systemically important financial institutions (SIFI). In their letter, CHLA emphasized that labeling any small to mid-sized servicers as SIFI would be inappropriate as they clearly do not pose any systemic risk as mortgage loan originators.

“Consumers obtaining a mortgage loan enjoy more consumer protection than with any financial product – however we can do better. CHLA’s ‘Consumer Mortgage Bill of Right’s’ identifies the most common mortgage abuses along with effective, practical solutions to provide full protections.” – Scott Olson, Executive Director

CHLA sent a letter to Rep. John Rose (R-TN) commending his introduction of HR. 4198, legislation to address abusive mortgage trigger leads. The CHLA letter offered constructive bill suggestions – including a consent process that puts consumers in charge of deciding whether they want to receive trigger lead solicitations.