This presentation gives a summary of the National Mortgage Settlement Act, including key provisions of the Act and how it has benefited affected borrowers.
Does less regulation equal more loan defaultsusmajormovers
The recent U.S. House vote to roll back mortgage lending limits of the 2010 Dodd-Frank Bill was termed the “crown jewel” of Republican reform, but it is by no means a shoe-in in the Senate. However, if efforts are successful at raising the Debt-to-Income (DTI) ratio from its present 43% limit, what effect will the change have on future loan default rates? No one seems to have a functioning crystal ball, but there are few historical statistics to rely upon for hints.
U.S. Lending Industry Meets Mortgage Process as a ServiceCognizant
In a challenging and changing market, mortgage process as a service, orMPaaS, can provide banks with the talent and systems to handle essen¬tial lending services, enabling them to focus on rebuilding their business through product innovation to capture market share.
This presentation gives a summary of the National Mortgage Settlement Act, including key provisions of the Act and how it has benefited affected borrowers.
Does less regulation equal more loan defaultsusmajormovers
The recent U.S. House vote to roll back mortgage lending limits of the 2010 Dodd-Frank Bill was termed the “crown jewel” of Republican reform, but it is by no means a shoe-in in the Senate. However, if efforts are successful at raising the Debt-to-Income (DTI) ratio from its present 43% limit, what effect will the change have on future loan default rates? No one seems to have a functioning crystal ball, but there are few historical statistics to rely upon for hints.
U.S. Lending Industry Meets Mortgage Process as a ServiceCognizant
In a challenging and changing market, mortgage process as a service, orMPaaS, can provide banks with the talent and systems to handle essen¬tial lending services, enabling them to focus on rebuilding their business through product innovation to capture market share.
• FHA Statistics, Profile and Benefits
• FHA Loan Limits, Recent Changes, On the Horizon,
and What's HOT.
• VA Demographics, Profile and Benefits
• High Balance VA, and What's HOT.
US Mortgage - Learn Complete Life Cycle of Mortgage ProductionVijay_30071977
You might be wondering what is US Mortgage? Why it is important? What role it plays in US economy? Why it is important to learn about US Mortgage? Who should learn this domain? Why they should learn this domain? What is the complete life cycle of the Mortgage, right from Origination of the loan to selling the same loan in secondary market, who are the players involved? What all the processes involved? What all the consumer Affairs Laws & Regulations? And Key Terms and Concepts.
The US – Mortgage in a nutshell
Let’s understand What is US Mortgage in a nutshell? US Mortgage, in this course you going to essentially learn about what is US Mortgage Banking, what all the risks involved in mortgage banking, What all the different types of Mortgages available in market? As fundamentals of US Mortgage.
When it comes to Mortgage Production, you will learn about what all the different processes like Loan Origination, Processing, Underwriting, Closing & Funding. Each process again has multiple processes in order to make sure both borrower & lender are in compliance with federal laws.
Let’s see what we going to learn in Mortgage Servicing. This section of the course will talk about Loan servicing processes such as Cash Management, Investor Accounting & Reporting, Document Custodianship etc. Also, this section of the course will talk about Loan Servicing Players such as Loan Servicers, Trustees, Paying Agents, Primary Custodians, Primary Collateral Trustee etc.
Last section of this course is the more exciting one. This section will throw light on Mortgage Secondary Marketing, who are all players, How the Securitization process is structured? What all the government sponsored entities are involved in securitization process? Which are called private conduits and their role in secondary market.
So, who are target audiences? This course is meant for someone who wants to build their career as a business analyst, product owner/manager for Mortgage products, This course is for someone who is interested in Mortgage Business as an investor or financier, This course is meant for academicians who wants teach on US Mortgage domain, This course is prepared for all the people who works in the are of US Mortgage, but do not have complete understanding of how the mortgage is originated and finally sold in the secondary market. This course is intended for anyone who is in finance domain.
So, at the end of this lesson, you will be able to understand the whole process of Mortgage production right from origination to selling them in secondary market, you will be able to answer all the questions related to US Mortgage, if you are investor in mortgage business, you will be much comfortable in your decisions since the decision you make will be informed decisions. If you are a product owner for a mortgage product, you will be enhanced with additional knowledge of mortgage.
Starting January 10, 2014, you must assess the borrower’s ability to repay for virtually all closed-end
residential mortgage loans. All Qualified Mortgages (QM) are presumed to comply with this requirement.
As described below, a loan that meets the product feature requirements can be a QM under any of three
main categories: (1) the general definition; (2) the “GSE-eligible” provision; or (3) the small creditor provision.
Mortgage Basics provides information about mortgage products and programs that will help real estate agents realize success. Topics include:
- when you need to ask for more time to close,
- property types and characteristics that might be more difficult to sell (and how to sell them),
- how to use various products/programs to help increase a buyer's purchasing power.
An International Insolvency Law for Sovereign Debt? Learnings from the Euro ...Luca Amorello
Presentation of my new paper:
'An International Insolvency Law for Sovereign Debt?'
Seminar on “Sovereign Debt Restructuring and the Rights of Private Creditors”.
July 14, 2014,
House of Finance - Frankfurt.
• FHA Statistics, Profile and Benefits
• FHA Loan Limits, Recent Changes, On the Horizon,
and What's HOT.
• VA Demographics, Profile and Benefits
• High Balance VA, and What's HOT.
US Mortgage - Learn Complete Life Cycle of Mortgage ProductionVijay_30071977
You might be wondering what is US Mortgage? Why it is important? What role it plays in US economy? Why it is important to learn about US Mortgage? Who should learn this domain? Why they should learn this domain? What is the complete life cycle of the Mortgage, right from Origination of the loan to selling the same loan in secondary market, who are the players involved? What all the processes involved? What all the consumer Affairs Laws & Regulations? And Key Terms and Concepts.
The US – Mortgage in a nutshell
Let’s understand What is US Mortgage in a nutshell? US Mortgage, in this course you going to essentially learn about what is US Mortgage Banking, what all the risks involved in mortgage banking, What all the different types of Mortgages available in market? As fundamentals of US Mortgage.
When it comes to Mortgage Production, you will learn about what all the different processes like Loan Origination, Processing, Underwriting, Closing & Funding. Each process again has multiple processes in order to make sure both borrower & lender are in compliance with federal laws.
Let’s see what we going to learn in Mortgage Servicing. This section of the course will talk about Loan servicing processes such as Cash Management, Investor Accounting & Reporting, Document Custodianship etc. Also, this section of the course will talk about Loan Servicing Players such as Loan Servicers, Trustees, Paying Agents, Primary Custodians, Primary Collateral Trustee etc.
Last section of this course is the more exciting one. This section will throw light on Mortgage Secondary Marketing, who are all players, How the Securitization process is structured? What all the government sponsored entities are involved in securitization process? Which are called private conduits and their role in secondary market.
So, who are target audiences? This course is meant for someone who wants to build their career as a business analyst, product owner/manager for Mortgage products, This course is for someone who is interested in Mortgage Business as an investor or financier, This course is meant for academicians who wants teach on US Mortgage domain, This course is prepared for all the people who works in the are of US Mortgage, but do not have complete understanding of how the mortgage is originated and finally sold in the secondary market. This course is intended for anyone who is in finance domain.
So, at the end of this lesson, you will be able to understand the whole process of Mortgage production right from origination to selling them in secondary market, you will be able to answer all the questions related to US Mortgage, if you are investor in mortgage business, you will be much comfortable in your decisions since the decision you make will be informed decisions. If you are a product owner for a mortgage product, you will be enhanced with additional knowledge of mortgage.
Starting January 10, 2014, you must assess the borrower’s ability to repay for virtually all closed-end
residential mortgage loans. All Qualified Mortgages (QM) are presumed to comply with this requirement.
As described below, a loan that meets the product feature requirements can be a QM under any of three
main categories: (1) the general definition; (2) the “GSE-eligible” provision; or (3) the small creditor provision.
Mortgage Basics provides information about mortgage products and programs that will help real estate agents realize success. Topics include:
- when you need to ask for more time to close,
- property types and characteristics that might be more difficult to sell (and how to sell them),
- how to use various products/programs to help increase a buyer's purchasing power.
An International Insolvency Law for Sovereign Debt? Learnings from the Euro ...Luca Amorello
Presentation of my new paper:
'An International Insolvency Law for Sovereign Debt?'
Seminar on “Sovereign Debt Restructuring and the Rights of Private Creditors”.
July 14, 2014,
House of Finance - Frankfurt.
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Proyecto de desarrollo de liderazgo en incidencia politica con mujeres jovenes lideres de organizaciones de Bolivia, Peru y Chile.
El proyecto busca desarrollar habilidades y destrezas en incidencia política y competencias en liderazgos en mujeres jóvenes, líderes de la sociedad civil, para crear desarrollar e implementar proyectos de incidencia que permitan influenciar los procesos políticos, sociales y culturales de Bolivia, Perú y Chile.
Controlling the Growth of Payday Lending Through Local O.docxdickonsondorris
Controlling the Growth of Payday Lending
Through Local Ordinances and Resolutions
A Guide for Advocacy Groups and Government Officials
October 2012
Written By:
Kelly Griffith, Co-Director
Southwest Center for Economic Integrity
[email protected]
Linda Hilton, Director
Coalition of Religious Communities
Crossroads Urban Center - Utah
[email protected]
Lynn Drysdale, Staff Attorney
Jacksonville Area Legal Aid - Florida
[email protected]
Preface
Neighborhoods across America are witnessing the resurgence of predatory small loan operations.
In the last twenty years or so, payday lenders have exploited deregulated interest rates, won special
treatment from state legislatures, or designed products that slip through legislative or regulatory
loopholes. As a result, payday lending legally operates in 32 states, while 18 states either prohibit it,
curb it with rate caps, or have other restrictions that disrupt the payday loan business model costing
consumers as much as $7.46 billion a year in interest for over $44 billion in loans from both storefront
and online lenders. Payday loans cost cash-strapped borrowers triple- digit interest rates, trap borrowers
in repeat loans, foster coercive debt collection practices, and endanger bank account ownership for
families that live on the financial edge.
Payday lending has become increasingly controversial as the consequences of this defective
financial product have become painfully apparent. Payday lenders now outnumber Starbucks and
Burger King outlets across the country. Billions of dollars in usurious interest flows out of communities
to the national chain lenders. Mapping of payday loan locations by neighborhood characteristics and
studies of payday loan use issued by regulators and academics document that these high cost loans
disproportionately harm minority families and low to moderate-income borrowers. (For more
information, please visit Consumer Federation of America's www.paydayloaninfo.org)
Local leaders see the impact of payday lending on economic development, requests for financial
assistance, and financial distress in communities with high levels of low-to-moderate income and
minority families. While industry lobbying and campaign contributions have thwarted reform in many
state legislatures, local officials are taking action to stop payday lenders from exploiting their
neighborhoods by enacting restrictive zoning requirements and local ordinances.
Local policymakers interested in preventing predatory payday lending can also lend their support
to state-level reform efforts to cap annual interest rates at an all-inclusive 36 percent or repeal payday
loan authorization outright. As documented in North Carolina, reinstating small loan caps allows
responsible credit to flow, while saving consumers the billions of dollars now lost to predatory payday
lenders. Resolutions urging state legisla.
Mrotek Schmitz 2010 Cas Annual Meeting Finalkylemrotek
The rise and fall of subprime mortgage securitizations contributed in part to the ensuing credit crisis
and financial crisis of 2008. Some participants in the subprime-mortgage-backed securities market relied at least
in part on analyses grounded in the loss development factor (LDF) method, and many did not conduct their own
credit analyses, relying instead on the work of others such as securities brokers and rating agencies. In some
cases, the parties providing these analyses may have lacked the independence, or at least the appearance of it, that
would have likely better served the market.
A new appreciation for the value of independent analysis is clearly a silver lining and an important lesson to be
taken from the crisis. Actuaries are well positioned to lend assistance to the endeavor.
Mortgages are long-duration assets and, similarly, mortgage credit losses are relatively long-tailed. As casualty
actuaries are aware, the LDF method has inherent limitations associated with immature development. The
authors in this paper will cite examples of parties relying on the LDF or similar methods for projecting subprime
mortgage credit losses, highlight the limitations of relying exclusively on such methods for projecting subprime
mortgage credit performance, and conclude by offering general enhancements for an improved approach that
considers the underwriting characteristics of the underlying loans as well as economic factors.
A Primer on the Amendments introduced in the U.S. House to undermine the creation of a much-needed Consumer Financial Protection Agency, in the Wall Street Reform and Consumer Protection Act.
Presentation by Christine M. Todd, CEO of NVAR, at the 5th Annual Appraisal Summit on June 16, 2010. This event took place at the NVAR Herndon Service Center
Presentation by the Prince George's County Association of Realtors at the Annual Press Conference - held at the National Press Club in Washington DC on December 15, 2009.
Annual Press Conference - George Mason University's Center for Regional Analy...NVAR .com
Presentation by John McClain from the GMU Center for Regional Analysis at the Annual Press Conference - held at the National Press Club in Washington DC on December 15, 2009.
Presentation by the Greater Capitol Area Association of Realtors at the Annual Press Conference - held at the National Press Club in Washington DC on December 15, 2009.
Presentation by the Greater Washington Commercial Association of Realtors at the Annual Press Conference - held at the National Press Club in Washington DC on December 15, 2009.
Presentation by the Northern Virginia Association of Realtors at the Annual Press Conference - held at the National Press Club in Washington DC on December 15, 2009.
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
Keep Your Home Naturally Cool and Warm Out Change in Seasons
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Serviced Apartment Ho Chi Minh For RentalGVRenting
GVRenting is the leading rental real estate company in Vietnam. We help you to find a serviced apartment for rent in Ho Chi Minh & Saigon. Discover our broad range of rental properties in Vietnam.
For more details https://gvrenting.com/
Recent Trends Fueling The Surge in Farmhouse Demand in IndiaFarmland Bazaar
Embarking on the journey to acquire a farmhouse for sale is just the beginning; the real investment lies in crafting an environment that contributes to our mental and physical well-being while satisfying the soul. At Farmlandbazaar.com, India’s leading online marketplace dedicated to farm land, farmhouses, and agricultural lands, we understand the importance of transforming a humble farmland into a warm and inviting sanctuary. Let's explore the fundamental aspects that can elevate your farmhouse into a tranquil haven.
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
Total Environment Tangled Up In The Green - Residential Plots Where Nature an...JagadishKR1
Embark on a journey where lush landscapes and contemporary living converge at Total Environment's Tangled Up In The Green Residential Plots in Devanahalli, Bangalore. Surrounded by verdant expanses, these plots offer an idyllic setting for your dream home. Immerse yourself in the serenity of nature while enjoying the finest amenities and design, where every moment is a harmonious blend of luxury and tranquility.
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Revenue Keys- Begur Village Survey-Sketchrevenuekeys
Find Land Survey Number View A Begur village Begur Hobli Bangalore The Revenue Department of Karnataka By The Survey Sketch Made Citizen Simple Easy to Find Survey Number,s
9. Federal Reserve’s Balance Sheet, $ mil Source: Federal Reserve *All Liquidity Facilities includes: Term Auction credit; primary credit; secondary credit; seasonal credit; Primary Dealer Credit Facility; Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility; Term Asset-Backed Securities Loan Facility; Commercial Paper Funding Facility; outstanding principal amount of loans to American International Group, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC; and central bank liquidity swaps.
10. Agency MBS Issuance Data and Government Purchase Programs Sources: Federal Reserve, FHFA, IMF, Treasury
29. Loan limits The Economic Stimulus Act of 2008 increased temporarily the CLL from $417,000 to $625,500. The act set the CLL in high-cost areas based on the areas’ home prices compared to the national median, up to a maximum of $729,750. The American Response and Recovery Act of 2009 raised, for one year, the high cost loan limits to the higher of $729,750 or the highest 2008 level. The standard level of $417,000 did not change. The current FHA loan limit ranges up to $729,750 in high-cost areas. With respect to 2010, the Senate stripped an extension of the higher GSE and FHA loan limits from the Transportation-HUD appropriations bill that it approved last Thursday. The higher limits were in the version of the bill that the House had earlier passed. SIFMA voted to maintain limits on the ability of the GSEs to include “jumbo conforming” loans in TBA pools.
30. HR 1728 – Overview HR 1728 - Mortgage Reform and Anti-Predatory Lending Act Passed House May 7, 2009; Not Senate Priority Safe harbor for “qualified loan” (rate does not exceed 1.5% over average prime offer rate; 2.5% for jumbo, 3.5% for junior liens; fully amortizing, total fees not to exceed 2 points; full underwriting...) Economic Interest Requirements- Creditor of not qualified mortgages to retain economic interest (at least 5%) of credit risk for loan it transfers/sells. Other Provisions - Other provisions regarding appraisals, pre-loan counseling and servicing.
31. Obama Administration Reform Proposal Establishes National Bank Supervisor merging OCC and OTS Elimination of thrift charter Federal Reserve as systemic risk regulator Consumer Financial Protection Agency CFPA Broad jurisdiction - financial products and services, Broad powers – “plain vanilla”, compensation, risk retention, disclosure, RESPA,TILA, CRA,HMDA Floor not a ceiling – encourages patchwork Rating agency reform GSE proposal forthcoming with February 2010 budget document
34. Conclusions Difficult macro environment Ongoing weakness in the job market Upward trend in rates Continuing weakness in the housing market Continuing increases in delinquency and foreclosure rates until job market improves Difficult regulatory environment More and more restrictive regulation coupled with industry tightening of underwriting will likely continue to restrict the flow of credit Uncertainty regarding the future role and capabilities of the GSEs or their successors