National Mortgage News 10/18/16 – Nonbank Lenders Fearful of Privatized Common Securitization Platform

National Mortgage News 10/18/16 – Nonbank Lenders Fearful of Privatized Common Securitization Platform

Nonbank Lenders Fearful of Privatized Common Securitization Platform   By Brad Finkelstein October 18, 2016   “A privatized CSP would more difficult for small and midsize mortgage companies to compete with large banks,” said Scott Olson, executive director of the Community Home Lenders Association.   If the Common Securitization Platform … Continue reading

Letter to CFPB Director Cordray 1017/16 – CFPB Proposed Rule – TRID

2101 Wilson Boulevard, Suite 610 Arlington, VA 22201 (571) 527-2601 October 17, 2016 Comment Letter – CFPB Proposed Rule – TRID Docket No. CFPB – 2016 – 0038 Mr. Richard Cordray Director, Consumer Financial Protection Bureau 1700 G Street, NW Washington, DC 20552 Dear Director Cordray: The Community Home Lenders … Continue reading

Scotsman Guide 10/14/16 – Industry split on FHA insurance-premium cuts

Scotsman Guide 10/14/16 – Industry split on FHA insurance-premium cuts

Industry split on FHA insurance-premium cuts   A nonbank mortgage trade association renewed calls this week for the government to cut insurance premiums on Federal Housing Administration (FHA) loans, but the president of the nation’s largest trade group, the Mortgage Bankers Association, says that would be a bad idea. MBA … Continue reading

National Mortgage News 10/13/16 – Small Lenders Worry GSE Moves Will Leave Them Behind

National Mortgage News 10/13/16 – Small Lenders Worry GSE Moves Will Leave Them Behind

Small Lenders Worry GSE Moves Will Leave Them Behind   By Brian Collins October 13, 2016   “Private mortgage insurers or other guarantors must be prohibited from offering volume discounts to large lenders,” said Scott Olson, executive director of the Community Home Lenders Association.   As Fannie Mae and Freddie … Continue reading

Scotsman Guide 10/13/16 – MBA Makes Case for Front-end Risk Sharing

Scotsman Guide 10/13/16 – MBA Makes Case for Front-end Risk Sharing

MBA makes case for front-end risk-sharing   The nation’s largest mortgage trade organization, the Mortgage Bankers Association (MBA), made the case this week for incorporating more upfront risk-sharing with the private sector on the most popular loan types, including trying models that small lenders fear could give big banks an … Continue reading

Letter to HUD Deputy Secretary Golding 10/13/16 – Another request to FHA to further reduce annual premiums and end “Life of Loan” policy

2101 Wilson Boulevard, Suite 610 Arlington, VA 22201 (571) 527-2601 October 13, 2016 Mr. Edward Golding Principal Deputy Assistant Secretary Office of Housing Department of Housing and Urban Development 451 7th Street SW Washington, DC 20410 Dear Mr. Golding: The Community Home Lenders Association (CHLA) writes to renew our request, … Continue reading

HousingWire 10/11/16 – PHH/CFPB Ruling

HousingWire 10/11/16 – PHH/CFPB Ruling

EXCERPT: The Community Home Lenders Association agreed, as did the Credit Union National Association. “The Community Home Lenders Association is encouraged by today’s court ruling in PHH Corporation vs. the CFPB – both in terms of increasing accountability regarding the CFPB’s governing structure and also with respect to restricting retroactive penalties for prior … Continue reading

Scotsman Guide 10/6/16 – Front-end risk sharing threatens small lenders

Scotsman Guide 10/6/16 – Front-end risk sharing threatens small lenders

Front-end risk sharing threatens small lenders Interview with Scott Olson, executive director of CHLA The government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac now offload much of the default risk on the loans they purchase through the sales of securities. These are called back-end risk-sharing deals because they provide risk … Continue reading

Scotsman Guide 10/4/16 – “Small lender groups split on deeper cover PMI”

Scotsman Guide 10/4/16 – “Small lender groups split on deeper cover PMI”

Small lender groups split on deeper cover PMI Two small lender trade associations and frequent allies on issues related to housing finance reform have split on the idea of expanding the use of private mortgage insurers to cover the default risk of the nation’s most popular loan types. The Community Home … Continue reading

Rob Chrisman 10/01/16 – CHLA Sends Risk Sharing Comment Letter to FHFA

Rob Chrisman 10/01/16 – CHLA Sends Risk Sharing Comment Letter to FHFA

Scott Olson, Executive Director of the Community Home Lenders Association (CHLA), sent a note addressing up-front risk sharing discussing the message sent by the CHLA to the FHFA (which oversees Fannie & Freddie.) “This big concern is the longstanding Congressional concern about ‘vertical integration’ – that the large Wall Street … Continue reading