In an oped in Scotsman Guide’s April Magazine, Wayne Watkinson of Offit Kurman warns about SAFE Act creep, where states expand the critieria beyond the SAFE Act Model Code for whether non-bank mortgage loan originators must be licensed – and argues for more SAFE Act parity, such as requiring all LOs to pass the SAFE Act test.
A National Mortgage News Op-Ed authored by Scott Olson, CHLA Executive Director, makes the case for a broad-based credit facility for all IMB servicers to meet huge rise in advances caused by a new forbearance requirement and by rising defaults because of coronavirus. The oped explains this is not a bailout, is not particularly risky, and is critical for mortgage borrowers.
Santo Chiarelli (Partner at ACS, Iselin, NJ) provides his perspective from the firm’s work providing accounting and auditing services on the outlook for IMBs as they navigate the year 2020, highlighting the impact of the 2017 tax bill, economic outlook, and compliance issues.
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
In a Housing Wire Op-Ed, CHLA Member Anthony Kellum of Kellum Mortgage highlights CHLA Recommendations to the incoming Biden Administration to expand FHA’s role in
In a National Mortgage News Op-ed, Matt Van Fossen and Taylor Stork make the case for smart state regulation of mortgage firms, in areas like
The Community Home Lenders Association (CHLA) today released a set of comprehensive FHA recommendations it is calling on the Biden/Harris Administration to act on to