August 20, 2014
The Top 10 Critical Issues Facing GSE Reform
Housing Wire | August 18, 2014
Almost six years into conservatorship and barely any progress has been made to reform Fannie Mae and Freddie Mac to create a new housing finance system, which places private capital in the first-loss position. According to a new paper from Urban Institute’s Laurie Goodman, “This task has proved very difficult, and it has been made more difficult by a deeply divided Congress. While today (in mid-2014) members of Congress generally agree on the principles of a new system, they have yet to reach consensus on what the design of the system should be, leaving a legislative solution in the near term unlikely.”
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Overall Economic Outlook Positive, But Housing Loses Momentum
DSNews | August 18, 2014
A second quarter broad-based rebound combined with an upward revision for economic activity in the first quarter has given a boost to 2014 full-year economic expectations, according to the August 2014 Economic Outlook put together by Fannie Mae's Economic and Strategic Research Group. The housing market lost momentum in Q2, however, as near-term indicators show that growth slowed from Q1. Residential investment, although expected to contribute to growth in 2014 and 2015, is not expected to be a major driver of economic growth going forward as was originally forecasted.
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How To Avoid CFPB Violations - Recapping TILA-RESPA Tolerances
Housing Wire | August 18, 2014
And so goes another week of intense, deep-dive material on the tolerances for the TILA-RESPA Loan Estimate. But as we wrapped up section 7 of the rule, we also pointed out that we’re heading into Week 50 of the countdown to August 1, 2015. In order to complete section 7, we ran through the following charges that remain subject to zero tolerance in changes between the Loan Estimate and the Closing Disclosure form.
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Fed Reserve to Host Webinar on New Integrated Disclosures
Tuesday, Aug. 26 at 1p.m. CDT — Register Here
On Tuesday, August 26 at 1 p.m. CDT, the Federal Reserve will host a webinar to address frequently asked questions about the CFPB's TILA-RESPA Integrated Disclosure rule. This webinar is part of a series of webinars to address the new rule as creditors, mortgage brokers, settlement agents, software developers and other stakeholders work to implement it over the next year. Learn more and sign up
here. The first webinar was presented by the CFPB on June 17 and provided an overview of the final rule and the new disclosures. You can access a recording of that webinar
here.