Op-Eds
Scotsman Guide March Magazine: 2020 Outlook for Independent Mortgage Bankers
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.
National Mortgage News Op-ED: “Don’t Eliminate Ability to Repay – Reform It
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.
National Mortgage News Op-Ed: Ginnie Mae Should Not Stress Test Smaller IMB Issuers
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
Housing Wire Magazine Article: Life of Loan Premium Policy Hurts Borrowers and FHA
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.”
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”