Op-Eds
SCOTSMAN GUIDE: WAYNE WATKINSON OPED – DON’T USE CREDIT REPORTS TO DENY LOAN ORIGINATOR LICENSES
In a Housing Wire op-ed, Wayne Watkinson makes a compelling case why SAFE Act policies should be changed so that credit reports are not used to inappropriately deny loan originator licenses
Inside sources: Matt Van Fossen – adverse market fee hurts homeowners
Matt Van Fossen explains why Fannie and Freddie’s New Adverse Market Fee on Refis will hurt homeowners and is not justified because of the GSEs’ strong financial performance in recent years
Housing wire: Scott olson – Key Issues affect smaller lenders in gse reform
Scott Olson highlights key CHLA priorities for small IMBs – G Fee Parity, a true Utility Model, no new GSEs – as the pace of GSE reform picks up
Scotsman Guide April Magazine: Wayne Watkinson – Time to Take Another Look at the SAFE Act
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.
National Mortgage News: Scott Olson – Need for a Liquidity Facility for IMB Servicers
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.
Opinion: CRA doesn’t work for banks or IMBs
CHLA Executive Director Scott Olson opposes the extension of the Community Reinvestment Act to independent mortgage banks.
CHLA Renews Request to Ginnie Mae to Exempt Small and Mid-sized IMBs from Bank-like Capital Requirements
CHLA Letter Identifies Alternative Approaches to Address Liquidity and Going Concern Issues
Ginnie Mae’s New Capital Rules Draw Split Opinions
The Community Home Lenders Association wrote a letter to Ginnie, renewing its request that the government bond insurer “exempt small and mid-sized independent mortgage banks”