FHA: MMI Fund, reverse mortgages improving

Revealing that the agency’s Mutual Mortgage Insurance Fund reached a 12-year high for Fiscal Year 2019, the Federal Housing Administration instilled optimism in the mortgage industry with its Annual Report to Congress. The report also highlights continued improvements in the struggling reverse mortgage marketplace and an increase in the small percentage of mortgages with multiple … Read more

Agencies finalize Volcker Rule revisions

The five federal financial regulatory agencies recently published a final rule intended to simplify implementing regulations of Section 13 of the Bank Holding Company (BHC) Act, commonly known as the Volcker Rule. The final rule revises numerous provisions of the Volcker Rule, intended to provide clarity and streamline compliance obligations based on trading assets and … Read more

CFPB issues rule on temporary origination authority

For financial institutions that employ loan originators with temporary origination authority, the Consumer Financial Protection Bureau (CFPB) published a new interpretive rule regarding applicable screening and training requirements. The rule is intended to clarify provisions of an amendment to the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act, as amended by the Economic Growth, … Read more

Presidential Hopeful Andrew Yang Plans to Regulate Crypto Industry

Democratic 2020 presidential candidate Andrew Yang has outlined how he plans to regulate the cryptocurrency industry. Promise to promote legislation on cryptocurrencies On Nov. 14, Yang, an entrepreneur, lawyer, philanthropist and a Democratic candidate in the 2020 United States presidential election, wrote in a Nov. 14 blog post on the tech industry that cryptocurrencies experience … Read more

ESMA updates its Q&As on the Securitisation Regulation

ESMA updates its Q&As on the Securitisation Regulation Friday 15 November 2019 10:08 The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today updated its Questions and Answers (Q&As) on the Securitisation Regulation (Regulation 2017/2402). The majority of Q&As in this document provide clarification on different aspects of the templates contained … Read more