In an effort to address confusion over the “valid-when-made” doctrine, which prevents loan interest rates from being altered after changing hands, the Office of the Comptroller of the Currency (OCC) is seeking industry input on a proposed rule on the matter. With the proposed rule, OCC hopes to clarify that when a national bank or … Read more
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
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
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
The third-quarter drop in new-home sale prices was the biggest since at least 2012 and the third consecutive quarterly decline. Read on for more details.
ESMA Newsletter – Nº9 Wednesday 20 November 2019 17:47 Welcome to the ninth edition of ESMA’s newsletter. In this issue we take a closer look at the new website section on sustainable finance and SFTR, we highlight the full list of ESMA staff speaking appearances and catch up on publications from October and early November. … Read more
Federal Reserve Board announces annual indexing of reserve requirement exemption amount and of low reserve tranche for 2020
Sefs expect new trading rules for single-name CDS to be published “pretty soon”
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 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