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 Renews Request to Ginnie Mae to Exempt Small and Mid-sized IMBs from Bank-like Capital Requirements
CHLA Letter Identifies Alternative Approaches to Address Liquidity and Going Concern Issues
The Community Home Lenders Association wrote a letter to Ginnie, renewing its request that the government bond insurer “exempt small and mid-sized independent mortgage banks”