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  Biden nominates replacement for ChopraTuesday, September 21, 2021 President Joe Biden has nominated a privacy advocate from Georgetown University’s law school to take Rohit Chopra’s seat on the Federal Trade Commission (FTC). This nomination comes at a time when the FTC has been critiqued for not doing enough to protect consumers’ data. FTC Chair Lina Khan, also a Biden appointee, congratulated the new nominee, as did the American Economic Liberties Project. Read on for more details. |
 Climate change risk for banksTuesday, September 21, 2021 In a report released by Ceres and CLIMAFIN titled “Financing a Net Zero Economy: The Consequences of Physical Climate Risk for Banks,” the companies outline detailed recommendations to guide the banking industry in handling the physical risk posed by climate change. To develop the report, the two companies used natural catastrophe and credit risk models adjusted for climate effects, downscaled macroeconomic data, and publicly available information on syndicated loans from major U.S. Banks. Read on for more details. |
 Mr. Cooper Group announces two C-suite promotionsTuesday, September 21, 2021 Mr. Cooper Group has promoted two women to chief human resources officer (who will also be an executive vice president) and chief administrative officer. Mr. Cooper Chairman and CEO Jay Bray said both are great leaders and will work to ensure the company remains a great place to work and “to infuse our culture and brand into everything we do.” Read on for more details. |
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NAFCU names SVP of government affairsTuesday, September 21, 2021 The National Association of Federally-Insured Credit Unions has named a senior vice president, government affairs who brings over 20 years of experience to the role. His responsibilities include leading the association’s legislative, political, regulatory, compliance assistance, research, and economic divisions.
Read on for more details. |
Black Knight introduces all-in-one, cloud-based LOSTuesday, September 21, 2021 Black Knight, Inc. has introduced LoanCatcher, an all-in-one, cloud-based loan origination system. Specifically designed for mortgage brokers, the system includes integrations with systems and solutions across the company’s origination products. Read on for more details.
NAFCU names SVP of government affairsTuesday, September 21, 2021 The National Association of Federally-Insured Credit Unions has named a senior vice president, government affairs who brings over 20 years of experience to the role. His responsibilities include leading the association’s legislative, political, regulatory, compliance assistance, research, and economic divisions. Read on for more details.
 Portions of preferred stock purchase agreements suspendedThursday, September 16, 2021 The Federal Housing Finance Agency and the U.S. Department of the Treasury have suspended four provisions of the preferred stock purchase agreements (PSPA) with Fannie Mae and Freddie Mac (the Enterprises). In addition to suspending portions of the PSPAs, the agency also has issued a notice of proposed rulemaking related to amending the Enterprise regulatory capital framework rule. Read on for more details.
 Biden nominates new Ginnie Mae presidentThursday, September 16, 2021 President Joe Biden has nominated a senior advisor for housing finance within the U.S. Department of Housing and Urban Development to be the new head of Ginnie Mae. The new nominee would be the first permanent leader of Ginnie Mae in almost five years, since President Ted Tozer resigned in 2017. Read on for more details.
 Equitable housing finance plans announced for GSEsThursday, September 16, 2021 The Federal Housing Finance Agency announced Fannie Mae and Freddie Mac are to submit equitable housing finance plans to FHFA by the end of 2021, to be updated annually. These plans will be used to identify and address barriers to sustainable housing opportunities. Annual progress reports also will be required. Read on for more details.
UWM launches in-house appraisal solutionThursday, September 16, 2021 United Wholesale Mortgage (UWM) has launched UWM Appraisal Direct, giving clients another option when ordering appraisals on UWM loans. The program currently is in the pilot stage and will be released in all 50 states on Oct. 1, 2021. Read on for more details.
Envoy Mortgage, Reggora Technology partner Thursday, September 16, 2021 Envoy Mortgage has adopted an appraisal management system from Reggora, an appraisal software company, to assist in processing all loans requiring an appraisal. Envoy said the integration is part of its “digital transformation” and investment in technology optimization to improve its overall lending solution. Read on for more details.
MBA appoints associate vice president of diversity, equity, and inclusionThursday, September 16, 2021 The Mortgage Bankers Association has appointed an associate vice president (AVP) of diversity, equity, and inclusion (DEI). The new AVP will be responsible for advancing DEI programs for the association and overall real estate finance industry. Read on for more details.
 Payday loan rule upheld by Texas district courtTuesday, September 14, 2021 After more than three years since originally filed, the case against the Consumer Financial Protection Bureau regarding its 2017 payday lending rule has ended in the U.S. District Court for the Western District of Texas. U.S. District Judge Lee Yeakel issued an order finding in favor of the bureau, but not without giving some leeway to the plaintiff associations. Read on for more details.
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