Jerry Reed, chief lending officer from the $5.3 billion Alaska USA FCU, told lawmakers during a June 18 hearing on the Consumer Financial Protection Bureau’s qualified mortgage rule that products and product features were responsible for the mortgage market meltdown, not underwriting standards.
Senate gets measure Tuesday that would shut down Fannie Mae, Freddie Mac and FHFA within five years and create new corporation similar to FDIC.
WASHINGTON — Alaska USA FCU's chief lending officer talks CFPB qualified mortgage rule fears with House panel.
House Financial Services hearing features partisan back-and-forth over Fannie and Freddie.
The bulk of credit union and CUSO mortgage programs will see minimal impact from Fannie Mae and Freddie Mac limiting the secondary market to only qualified mortgages, according to credit union and CUSO executives.
Panel to take up housing finance reform with a focus on private investments.
Wright-Patt lending chief says unintended consequences could result from new CFPB rules put on Fannie and Freddie.
Not much impact seen from Fannie Mae, Freddie Mac decision to buy only qualified mortgages after Jan. 10, 2014.
FHFA said the GSEs will generally not buy loans that don't meet the CFPB's new "ability to repay rule."
North Carolina congressman's nomination to FHFA top spot prompts careful comments from trades.