AFR Statement on Re-Nomination of Richard Cordray
“The Senate now has a second chance to confirm this commendable nominee. It should.”
AFR in the News: The Road Forward on Financial Reform
Two and a half years after passage of the Dodd-Frank Act, two-thirds of its mandated rules have yet to be issued, and more than a hundred of its deadlines have been missed, writes Mark Gongloff of the Huffington Post. “Meanwhile, no banker has yet gone
AFR in the News: CFPB Limits Dual-Track Foreclosures
“Mortgage servicers will face greater limits on their ability to foreclose on a borrower while simultaneously negotiating a loan modification under new rules issued by the U.S. Consumer Financial Protection Bureau,” Bloomberg’s Carter Dougherty reports. The new rules “go further” than the bureau’s first proposal
AFR Statement on CFPB Mortgage Servicer Rule
“[W]hile the final rule is an improvement over the proposed rule, it does not go far enough to ensure fair treatment of borrowers. We urge the CFPB to immediately consider improvements, both on its own and through the interagency guidance process.”
AFR in the News: No Get Out of Jail Free Card for Unaffordable Loans
AFR Executive Director Lisa Donner talks to NPR about the importance of holding mortgage lenders accountable for unaffordable loans.
At a Crossroads: Lessons from HAMP
A new report from the National Consumer Law Center analyzes the record of the government’s main mortgage modification initiative, and where we go from here.
AFR Statement on CFPB Mortgage Lending Rule
“[P]ortions of today’s rule should have been stronger, and the CFPB has put one very important question on the table for further comment, creating a risk of further slippage.”
AFR in the News: CFPB Readies New Mortgage Rules as Banks Seek More Time
The rules… are “likely to resemble” an October draft that “extended a legal safe harbor to loans issued at prime interest rates to borrowers whose total debt-to-income ratio doesn’t exceed 43 percent.”
AFR Memo on CFPB’s 2013 Mortgage Rules
With new rules for mortgage lending and servicing due to be issued soon, the Bureau faces an important opportunity to make the housing market work better for families and communities.
AFR Letter: Resolution Plans Fall Far Short
More specificity and disclosure are needed in the big banks’ “living wills.”