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.
Scotsman Guide June Magazine: Temper Ideals with Reality in Housing Reform – Preserve Key Federal Mortgage Programs
CHLA Board Member Michael Delehanty (Chief Financial Officer of Mountain West Financial) argues for the need for a sound understanding of the critical role that FHA, Fannie Mae, and Freddie Mac play in our nation’s housing policy – cautioning that indiscriminate efforts to reduce their footprint to encourage “private capital” could fail at that objective, reducing mortgage loan availability in the process.
In a National Mortgage News Op-Ed, CHLA Executive Director Scott Olson lays out the case for ending FHA’s Life of Loan Policy and cutting annual
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
CHLA’s Policy Director Craig Thomas outlines the positive trends this year for smaller lenders in GSE policies – including permanent G Fee parity, recent changes