Policy and Regulation

Asset Recovery Associates told borrowers that it could sue them, garnish their wages and place liens against their homes, according to a consent order by the consumer bureau.

Though advocates and industry are rarely aligned, they are starting to coalesce around a plan that would call for the elimination of the CFPB’s 43% debt-to-income limit as part of its qualified mortgage rule.

The agencies handed banks a significant victory when they finalized revisions to the Dodd-Frank proprietary trading ban, but officials also plan to re-propose changes to the “covered funds” section of the rule.

EJF Capital is launching its seventh securitization of subordinated bank debt, via a CDO vehicle that allows smaller banks to raise capital more cheaply and efficiently for regulatory purposes.

Sheila Bair, who holds board seats at several other organizations, will sit on Fannie's compensation, corporate governance and risk policy committees.

After two regulatory agencies adopted final revisions to the rule, Dodd-Frank defenders expressed concern that the amendments to the proprietary trading ban undermined the post-crisis statute.

The agencies had proposed an "accounting prong" as an alternative means to determine which proprietary trades are banned, but their final rule heeded industry concerns that that would be worse than the current approach.

Banks stand to enjoy new flexibility in complying with Dodd-Frank’s proprietary trading ban, but it remains to be seen if regulators will grant them all the relief they have sought.

The Federal Housing Administration updated its lender certification proposal originally issued this past May, as it looks to ease industry concerns on False Claims Act enforcement.

Angel Oak is now offering mortgage brokers and correspondent loan sellers a prequalification tool to determine borrower eligibility for non-qualified mortgages.