News from Dodd-Frank
Mike SP
FHFA becomes
latest federal agency to withdraw from green finance coalition
The Federal Housing Finance Agency announced it would withdraw from a coalition of more than 100 central banks, formed to promote green finance to help combat climate change.
Mike SP
What is the
pivotal legal question when determining mortgage fraud?
Dodd Frank Update asked David Friend, owner of David Friend Mortgage Consulting, what industry professionals and borrowers can learn from recent mortgage fraud allegations and if there is anything that can be done to safeguard against potentially unwarranted fraud claims
Fed approves
first rate cut since December 2024, signals two more this year
The Federal Open Market Committee voted to lower the federal funds target range for the first time since December of last year, citing weakening in the labor market and the need to keep inflation in check
CFPB to consider numerous rule rescissions in Spring 2025 Unified Agenda
The Consumer Financial Protection Bureau released its Spring 2025 Unified Agenda offering compliance personnel a glimpse of the agency’s rulemaking priorities for the coming months.
Former CFPB attorneys say a ‘surgical’ approach is best for revisiting mortgage rules
For loan originators and mortgage servicers, two former Consumer Financial Protection Bureau attorneys about what would be best for the industry and consumers.
CFPB outlines plans for data privacy, larger participant rulemakings
"You have what are very rapidly becoming entrenched positions among data aggregators, data providers and data recipients. They have very different stakes in the success of this rule," former Consumer Financial Protection Bureau attorney Mike G. Silver told Dodd Frank Update when discussing the bureau’s plans to revisit its Personal Financial Data Rights rule.
CFPB seeks to establish legal standard for nonbank supervisory designations
The Consumer Financial Protection Bureau is seeking to standardize its process for designating nonbank financial institutions as covered entities for the purposes of regulatory supervision.
A pair of federal regulatory bodies outlined a plan for harmonizing approaches to novel or innovative financial products, including cryptocurrencies.
Mr. Cooper shareholders approve Rocket mergerMr. Cooper Group Inc. shareholders voted to adopt the company’s merger agreement with Rocket Companies, Inc. at a special meeting held Sept. 3.
Treasury proposes requiring CDFI applicants to disclose DEI, climate-related funding plans
The Treasury Department raised concerns among credit union advocates with a newly proposed disclosure requirement for Community Development Financial Institutions Fund applicants.
House passes
NDAA bill without CDFI amendments
The House passed its version of the National Defense Authorization Act without certain amendments supported by community banking and credit unions trade groups. These industry advocates are hoping to see the amendments incorporated into the Senate version.
Mike SP
FHFA proposes Fannie Mae, Freddie Mac housing goals for 2026-2028
The Federal Housing Finance Agency is seeking feedback on its proposal to recalibrate housing goal benchmarks for Fannie Mae and Freddie Mac for 2026-2028.
FHFA withdraws three proposed rules on GSE liquidity, FHLBank credit limitsThe Federal Housing Finance Agency withdrew three proposed rules on liquidity requirements for Fannie Mae and Freddie Mac and credit limits for the Federal Home Loan Banks.
Mike SP
Fannie Mae, Freddie Mac experts discuss loan monitoring enhancements, occupancy discrepancies
Quality control experts from Fannie Mae and Freddie Mac shared insights about the trends they are seeing among performing and non-performing loans at a recent industry event.
Mike SP
Senate committee hosts discussion on innovative solutions to affordable housing crisis
Lawmakers heard from a panel of experts about potential solutions to the housing affordability crisis during a hearing entitled "Innovation in U.S. Housing: Solutions and Policies for America’s Future."
Mike SP
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Financial services industry weighs in on FHFA plans to reduce GSE housing goals
The Federal Housing Finance Agency’s proposal to reduce key housing benchmarks for low-income communities met with mixed reactions from stakeholders, with some viewing it favorably while others worried it was not supported by enough hard data.
Mike SP
MtgeFI CEO
discusses how GSEs drive mortgage appraisal volume
Simon Blackburn, MtgeFI founder and CEO, recently discussed how the government-sponsored enterprises drive most mortgage appraisal volume and effectively set industry standards.
SEC deputy enforcement director for Northeast Region to exit in December
The Securities and Exchange Commission (SEC) announced the deputy director of the SEC’s Division of Enforcement for the Northeast Region will conclude her tenure with the agency in December.
Mike SP
Weighing the pros and cons of GSE conservatorship, bi-merge credit model
After 17 years in government conservatorship, the question of what is best for the future of the two government-sponsored enterprises in the context of the U.S. housing finance system remains a hot topic of debate.