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Furious Pace of Regulatory Actions Continue
There were no shortage of regulatory actions against financial institutions over the past month. Officials are meeting this week to discuss regulation of the largest financial services companies.
Tuesday, the Federal Deposit Insurance Corp. will hold a roundtable with government officials, industry executives, academics and investors. The focus of the event will be the new resolution authority provided for the largest financial firms in the Dodd Frank Wall Street Reform and Consumer Protection Act.
Tomorrow's roundtable is the first in a series of discussions where participation is by invitation only.
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The Conference Calendar
Issues being addressed at upcoming mortgage events include loan officer compensation, the future of mortgage servicing and selling loans to the Federal National Mortgage Association. The premier mortgage banking event of the year is just around the corner.
Big Names to Headline Mortgage Summit
Some of the biggest names in mortgage banking are scheduled as panelists at the upcoming mortgage summit sponsored by the Obama administration. Two members of the president's cabinet will moderate the panels. The event is part of a strategy to submit a mortgage overhaul plan to Congress by early next year.
Administration to Hold Conference on GSE's Future
Events announced by the Barack Obama administration will include addressing the future of Fannie Mae and Freddie Mac. The activities will likely influence the rulemaking process for the new consumer financial regulator.
Credit Score Crisis to Linger
While over-extended borrowers might find immediate relief from loan modifications, foreclosure alternatives or even foreclosures -- they are likely to be haunted by lower credit scores for years to come. Some lenders, however, are looking beyond credit history -- a move that could even impact borrowers who have maintained their payments. Panelists at a credit-risk conference discussed the implications and other alternatives.
Over 60 Upcoming Conferences
More than 60 mortgage and banking events are scheduled between June and October, with several in San Diego and Washington, D.C.
Appraisal Firms Showcase Wares
NEW YORK -- Appraisal management companies, appraisal technology providers and firms that provide broker price opinions are a dominant force at this week's secondary conference.
Secondary Market Insider
Three cooperatives have negotiated deals that expand the secondary offerings available to their respective members, and a New York lender announced agency approval. Next week, New York will host the secondary mortgage market's annual event, while next month marks the end of business for a warehouse lender.
Mortgage Banking Issues
At a recent conference about legal issues, U.S. Department of Justice officials announced plans to step up enforcement against lenders that discriminate. Mortgage bankers discussed concerns that pending legislation, which would require them to retain an interest in securitized mortgages, could have severe consequences if passed.
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