CHLA In The News
The Federal Housing Finance Agency’s new proposal on higher capital standards for Fannie Mae/Freddie Mac servicers is still pretty fresh but already the industry is reacting. The Community Home Lenders Association said in a statement it’s afraid the language, as proposed, could “reduce access to mortgage credit and increase industry consolidation among the industry’s largest participants, which in turn could increase systemic risk.” CHLA chief Scott Olson notes, “Seller-servicer requirements have already been
Chrisman Newsletter: Highlights CHLA’s Key Role in Transitional Licensing Law and Advocacy for SAFE Act Parity
EXCERPT FROM CHRISMAN DAILY NEWSLETTER: And in a somewhat related issue, Scott Olson, Executive Director of the Community Home Lenders Association, commented on some investors accepting, or denying, loans originated by MLOs through transitional licensing. “Great article about the SAFE Act. CHLA was instrumental in the process of enacting transitional licensing legislation, working closely with SAFE Act author Spencer Bachus (R-AL) on his introduction of the first transitional licensing
Inside Mortgage Finance: CHLA Warns Regulators of IMBs – Don’t Over-react to FSOC Report on IMB Risk
The release of the Financial Stability Oversight Council report on nonbank risk hasn’t been greeted warmly in all sectors of the mortgage industry. But there are some positives as Scott Olson of the Community Home Lenders Association points out: “While some press reports on FSOC’s 2019 Annual Report are focused on the purported risks of non-bank mortgage lenders, what is generally being overlooked is its other conclusion that non-bank lenders are
A National Mortgage News story highlights FHA’s strong Actuarial Report showing FHA Net Worth growing dramatically to 4.84% – with CHLA using this data to continue to press its case that borrowers are being overcharged and therefore FHA should end Life of Loan premiums.
In an August 17, 2019 Scotsman Guide Q&A, CHLA Executive Director Scott Olson explains that community lenders believe the GSE QM patch isn’t likely to expire without the CFPB at least replacing it with comparable flexibility.
National Mortgage News: CHLA Encouraged Ginnie Mae is Acknowledging Risk Differences Between Large, Small IMBs
In an article about GInnie Mae rolling out stress testing of IMBs, CHLA is quoted expressing appreciation that Ginnie Mae is acknowledging risk differences between large and small IMBs.
Michael Delehanty pens an Op-Ed explaining the follow of the GSE Profit Sweep – which slowed down Fannie and Freddie’s emergence from conservatorship and raised