CHLA Board Member Bill Giambrone (President and CEO of Platinum Home Mortgage) highlights the joint proposal by CHLA, the National Association of Realtors, consumer groups, PMIs, and other small lender groups to provide more flexibility for QM through a higher DTI with compensating factors and updating Appendix Q – explaining why it is a better approach than the large bank approach of eliminating DTI.
National Mortgage News Op-Ed: FHA’s Strong Actuarial Report Strengthens CHLA Call to End Life of Loan Premiums
CHLA Member Anthony Kellum (President of Kellum Mortgage) highlights FHA’s strong financial performance and significantly increased Net Worth as reported in its latest annual Actuarial Report – making a strong case that FHA is over-charging borrowers and should therefore end its Life of Loan premium policy.
CHLA Board Member Deb Sturges (President and CEO of Hallmark Home Mortgage) highlights CHLA’s recent comment letter making the case that Ginnie Mae should not stress test smaller IMB issuers, since they don’t pose either a significant financial or systemic risk to Ginnie Mae
CHLA Board Member Bill Giambrone (President and CEO of Platinum Home Mortgage) explains how FHA’s Life of Loan premium policy (1) significantly overcharges FHA borrowers, (2) hurts FHA finances through loss of revenues through refinancing of FHA loans to the conventional market, and (3) hurts Ginnie Mae, by contributing to its recent acceleration in prepayment speeds.
Scotsman Guide August Magazine: Scrutiny is Overdue on Mortgage Licensing – All LOs Should Pass the SAFE Act Test
CHLA Board Member David Wind (DAW Partners) makes a compelling case for why the CFPB should require every registered mortgage loan originator (LO) to pass the basic SAFE Act test measuring basic mortgage competency – arguing that exempting bank LOs fails to fully protect consumers and fails to fulfill the Dodd-Frank requirement that all LOs must be “qualified.”
Housing Wire Op-ED: CHLA’s Proposal to Reform LO Comp Rules Balances Needed Flexibility with Consumer Protections
CHLA Member Matthew Van Fossen (Absolute Home Mortgage) outlines CHLA’s proposal that it presented to the CFPB to reform the Dodd-Frank LO Comp rules, in a way that provides pricing and compensation flexibility in competitive situations, while maintaining consumer protections against steering.
CHLA Board Member Bill Giambrone (President and CEO of Platinum Home Mortgage) highlights the joint proposal by CHLA, the National Association of Realtors, consumer groups,
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
CHLA Joins Broad Coalition in CFPB Letter Outlining Proposal to Preserve QM Ability to Repay, With Appropriate Flexibility
CHLA joined with a broad coalition including the National Association of Realtors, consumer groups, USMI, and other small lender groups in offering a proposal to