Financial institutions

Ginnie Mae is requesting feedback on a new proposed stress test for mortgage-backed securities issuers that would take into account the government agency's increased nonbank counterparty risk.

The hiring of Tim Wennes was one a series of leadership changes announced Wednesday by the holding company for the bank and the auto lender Santander Consumer.

Mortgage lenders might be feeling a little less stressed over False Claims Act actions being brought against them following recent headlines but there is still some work to be done before they can chill out.

The legislation, which passed a key test in the state Senate on Wednesday, is the product of a compromise between consumer advocates and some lenders.

There is bipartisan agreement in the Senate that Fannie Mae and Freddie Mac are "too big to fail," but some lawmakers are skeptical that a SIFI designation is appropriate.

Although higher corporate debt could hurt the economy, Federal Reserve Chair Jerome Powell argued changes made since the last crisis will guard against a meltdown.

The Government Accountability Office called on Ginnie Mae to undertake four reforms to its operations, citing concerns regarding the ongoing shift in size and capitalization of mortgage-backed securities issuers.

Assemblywoman Monique Limon is in the “early stages” of exploring how to create a state-level Consumer Financial Protection Bureau as part of a broader push for more consumer protection for state residents.

Ginnie Mae could limit how much servicing income mortgage lenders can sell off through a transaction if they don't establish a minimum 25-basis-point spread at the portfolio level by next year.

Add the Alabama company to the list of lenders that are disappointed in the returns on loans made through car dealers and their inability to build broader relationships with those borrowers.