National Mortgage News – Regulator looks to expand NMLS reporting requirements
Scott Olson, executive director of the Community Home Lenders of America, noted that his organization “supports the modernization of NMLS and the standardization of requirements.” But there are “preliminary concerns that this initiative may add yet more regulatory compliance burdens, without a clear purpose.”
Housing Wire: The mortgage industry doesn’t want the DTI LLPA fee delayed. They want it killed
“While we appreciate the delay, we are disappointed that FHFA’s statement did not recognize the need to consider alternatives to using a debt-to-income pricing adjustment,” Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA), said in a statement. The Community Home Lenders Association (CHLA), which represents smaller lenders, also took a similar position — the FHFA should consider a full repeal of the DTI fee. The DTI
Housing Wire – FHFA delays implementation of LLPA DTI fees
On Wednesday, the Community Home Lenders Association, which represents smaller lenders, said Thompson did the right thing in delaying implementation of the DTI rule, the industry’s biggest bugbear. “This delay will give IMBs more time to adjust to the complications created by this DTI pricing differential, and we continue to call on FHFA to reconsider this fee hike,” Scott Olson, the group’s executive director, said in
Scotsman Guide: FHFA delays implementation of controversial DTI-based loan fees
A Scotsman Guide article on FHFA’s 3-month delay of higher LLLPAs for GSE loans over 40% DTI highlights CHLA’s praise for the delay and continued call for the elimination of DTI as an LLPA pricing factor.
Housing Wire – IMBs face ripple effect from recent bank failures
“I have trouble understanding how this can happen, that you’re taking in a lot of the short-term deposits and making a lot of long-term investments,” said Community Home Lenders Association (CHLA) Executive Director Scott Olson during a webinar this week focused on assessing SVB’s failure and its consequences. CHLA serves small and mid-sized independent mortgage banks. “I’m sure it seemed like a good idea at the time,” Olson added,
Housing wire: Setting the record straight on IMBs
A Housing Wire Oped by Christina Brown of Atlantic Bay Mortgage explains the CHLA release of their report on IMB regulatory creep – rebutting the myths that IMBs are risk or are not regulated – and explaining why excessive regulation of smaller IMBs exacerbates industry concentration, which is bad for consumers.
FHA unveils proposal for a new partial claim option
“The skyrocketing of mortgage rates has undermined FHA’s main loss mitigation tool for helping distressed borrowers – and FHA’s nimbleness in finding a workaround for
CHLA Commends FHA Commissioner Gordon for New Proposal to Keep Homeowners in their Home
The Community Home Lenders of America (CHLA) commended FHA Commissioner Julia Gordon for today’s announcement that FHA is proposing a program to create a flexible partial claim
Leaders struck a debt ceiling deal. What does it mean for mortgages?
“But mortgage rates have been creeping up in recent weeks because of uncertainties, so an agreement that brings some deficit reduction and removes this uncertainty