In a letter to CSBS, the organization representing state regulators of non-banks, CHLA made a detailed case why CRA is not appropriate for IMBs and would likely discourage IMBs to lend in a state – and offered alternative more effective actions states could take to encourage IMBs to serve even more underserved borrowers
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.
CHLA asks Treasury, FHFA, and Fannie Mae to reverse steep cuts in investor, second home loans for certain lenders
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.
An Inside Mortgage Finance article about FHFA’s Listening Session on proposed increases in GSE seller/servicer financial requirements highlights CHLA’s presentation by Taylor Stork (Developers Mortgage)
A National Mortgage News story quotes Taylor Stork of Developers Mortgage highlighting CHLA’s call to exempt all smaller seller/servicers from FHFA’s proposed 2% TBA hedging
A Housing Wire article on the FHFA Listening Session on GSE seller/servicer financial requirement cites CHLA Exec. Dir. Scott Olson pointing out that the 2%