Advocacy
CHLA Comments on FHFA new activity rule proposal for FHLBs
CHLA submits a comment letter to FHFA, asking for guardrails on approvals of new products for the Federal Home Loan Banks and asking the FHLBs to expand membership to include IMBs.
CHLA Asks CFPB to protect smaller IMBs through tiered regulation and reform LO Comp and trid
CHLA today submitted a detailed comment letter to the CFPB, with recommendations to revise regulations to enhance access to mortgage credit – asking for an exemption from CFPB supervision for smaller IMBs, rolling back LO Comp to its original purpose of banning aggregator yield spread payments to brokers, and reforming TRID
CHLA asks RHS to efficiently carry out delegated authority initiative in wake of employee directive
CHLA today wrote the Rural Housing Service (RHS) to once again commend RHS for its initiative to create delegated underwriting authority for lenders – but also to express concern that a directive for single family employees to move to St. Louis, MO not undermine its implementation.
CHLA, CAI, and NAMB send letter to FHFA, expressing concern about GSE elimination of condo limited reviews and reserve levels and critical repair changes
The Community Home Lenders of America (CHLA), Community Associations Institute (CAI), and the National Association of Mortgage Brokers (NAMB) send a joint letter to FHFA, Fannie Mae, and Freddie Mac, expressing concerns about March condo policy changes – and seeking more flexibility on those changes
NATIONAL MORTGAGE PROFESSIONAL: FHFA Opens VantageScore To All GSE Lenders, Eyes Credit Report Overhaul
Article cites CHLA efforts to push FHFA to widen lender choice and praise for FHFAs decision to increase competition, noting it could place competitive pressure
national mortgage professional: CHLA Wants Ginnie Mae Liquidity Backstop Ready Before Next Crisis
Article highlights CHLAs proposal for a Federal Reserve facility modeled on the Term Asset-Backed Securities Loan Facility would be the most logical funding source
SCOTSMAN GUIDE: CHLA pushes Fed backstop for Ginnie Mae nonbanks
Article highlights CHLA Ginnie Mae White Paper, noting that nonbanks are “bankrolling the federal government, and don’t have any of the tools that banks have