In a speech on July 18, Federal Reserve Vice Chair Barr voiced concerns regarding the use of artificial intelligence (AI) in mortgage underwriting. Barr stressed the importance of transparency in AI modelling and programs to...
Read MoreBank regulators are considering an increase in capital requirements as result of the implementation of Basel III, recent turmoil in the sector, and a new comprehensive assessment initiated by Federal Reserve Vice Chair Barr. Increased...
Read MoreTo address ongoing commercial real-estate (CRE) concerns, the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency, and the National Credit Union Administration released a joint policy statement on CRE...
Read MoreOn June 22, the FHFA issued a fact sheet outlining new sale and reporting requirements for non-performing and reperforming loans (NPLs and RPLs) sold by Fannie Mae and Freddie Mac (Enterprises). The fact sheet presents...
Read MoreIn an extensive report released on June 27, the U.S. Department of Treasury called on insurers and state regulators to ramp up their efforts to evaluate risks posed by climate change. The report stating that...
Read MoreOn June 21 and 22, Jerome Powell, the Chair of the Federal Reserve, testified before Congress on the Federal Reserve's semi-annual monetary policy report. Members from both the Republican and Democratic parties directed their attention...
Read MoreThis week, CFPB Director Rohit Chopra testified on the recent actions and expected future rulemakings of the CFPB before the Senate Banking Committee (SBC) and House Financial Services Committee (HFSC). Vocal support during the hearing...
Read MoreOn June 13, the Office of Information and Regulatory Affairs (OIRA) published its Spring 2023 Unified Agenda of Regulatory Actions, which is a comprehensive list of actions federal agencies plan to pursue. Released on a semiannual...
Read MoreEnforcement actions have declined during Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra’s leadership, with only five actions filed thus far in 2023, compared to 20 in 2022. Chopra has shifted focus towards supervising banks...
Read MoreThe Wall Street Journal reports that the Federal Housing Administration (FHA) is expected to propose a loss mitigation plan that would reduce monthly mortgage bills for borrowers who are unable to make their current loan...
Read MoreOn May 23, the House Financial Services Committee (HFSC) held a well-attended hearing titled "Protecting Homeowners and Taxpayers with FHFA Director Sandra Thompson.” A focal point of the hearing was the recent changes made by...
Read MoreOn May 15th, the FHFA issued a request for input (RFI) regarding Fannie Mae and Freddie Mac’s (GSEs) single-family pricing framework. The RFI seeks to gather feedback on various aspects of the FHFA’s goals and priorities, and...
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