mortgage servicing

13 05, 2024

FedFin on: FSOC’s Analytical Methodology

2024-05-13T16:52:29-04:00May 13th, 2024|The Vault|

Never Mind…

When FSOC released its systemic-designation methodology last year, the Council made it clear that nonbank mortgage companies faced top-down federal regulation.  Never mind.  As with so many other FSOC-declared systemic risks – see, for example, stablecoins – federal regulators have decided not to use the prudential tools they have in favor of asking for statutory change they know they won’t get.

The full report is available to subscription clients. To find out how you can sign up for the service, click here.

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13 05, 2024

GSE-051324

2024-05-13T11:46:38-04:00May 13th, 2024|4- GSE Activity Report|

Never Mind…

When FSOC released its systemic-designation methodology last year, the Council made it clear that nonbank mortgage companies faced top-down federal regulation.  Never mind.  As with so many other FSOC-declared systemic risks – see, for example, stablecoins – federal regulators have decided not to use the prudential tools they have in favor of asking for statutory change they know they won’t get.

GSE-051324.pdf

10 05, 2024

DAILY051024

2024-05-10T17:19:04-04:00May 10th, 2024|2- Daily Briefing|

Bowman Again Targets Pilot Climate Scenario Analysis

FRB Gov. Bowman criticized the Fed’s pilot climate scenario exercise as a “regulatory distraction,” again also warning against the cumulative effect of recent banking regulatory proposals.

Fed Takes Tougher Attitude to Bank Supervisory Rating, Finds Significant Weakness in Large Banks

Reiterating its concern about CRE, the Fed’s semiannual supervisory reportindicated that the number of large financial institutions receiving satisfactory or better ratings went down from about a half to about a third during the second half of 2023.

FSOC Demurs on Nonbank Mortgage Designation, Recommends Statutory Change Instead

Although FSOC last November (see Client Report FSOC29) indicated that nonbank mortgage companies were a prime target for systemic activity and practice designation, the Council decided instead to recommenda series of substantive, structural changes to Congress.

DAILY051024.pdf

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