Home >> Author Archives: Krista Franks Brock (page 10)

Author Archives: Krista Franks Brock

Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia.

Report: CFPB’s Proposed Expanded Complaint Database Poses Risks to All Involved

The Consumer Financial Protection Bureau (CFPB) recently proposed an expansion of its consumer complaint database that would include publicly publishing full narratives of consumers' complaints against financial institutions. While the bureau suggests such action supports the goal of "[improving] the functioning, transparency, and efficiency of markets," not all agree.

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FHFA Gains Support for Single Security Proposal

Following the Federal Housing Finance Agency's (FHFA's) recent request for input on its proposal for a single security for Fannie Mae and Freddie Mac, the Urban Institute expressed support for the idea but concern that FHFA may be unnecessarily slow in implementing such a plan.

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Payment Shock Looms with 2.5M HELOCs Poised to Reset

Payment shock among holders of home equity lines of credit (HELOCs) is a growing concern as 2.5 million HELOCs are scheduled to reset over the next three years, according to the latest Mortgage Monitor Report from Black Knight Financial Services. In fact, the average HELOC holder faces a monthly payment increase of $250 sometime in the next three years as he or she reaches the end-of-draw period.

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Housing Affordability Takes a Hit, Still Looks Favorable

Housing affordability took a hit in the second quarter but remains historically high, according to the Housing Opportunity Index (HOI) released by the National Association of Home Builders (NAHB) and Wells Fargo. However, the decline in affordability is nothing to worry about, according to NAHB.

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Early Indicators Suggest Uptick in New Home Sales

The Mortgage Bankers Association (MBA) estimates purchase applications for new homes nudged up 2 percent compared to June. The increase does not account for any typical seasonal patterns. Factoring in seasonal adjustments, MBA says July single-family new home sales ran at an annual rate of 433,000 homes, up from 386,000 in June, representing a 12.2 percent rise.

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ATR, QM Aren’t Majorly Impacting Prime Mortgage Market

The ability-to-repay and qualified mortgage (QM) rules that went into effect earlier this year are not having a significant impact on approvals of prime conforming residential mortgage loans, but they are impacting the jumbo and nontraditional loan markets, according to the July 2014 Senior Loan Officer Opinion Survey on Bank Lending Practices conducted by the Federal Reserve.

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CFPB Director Responds to Discrimination Complaints

CFPB Director Richard Cordray appeared before the House Financial Services Committee this week to address allegations of discrimination and a culture of retaliation at the agency. While Cordray would not discuss any individual discrimination complaints, he said, "We take each of these allegations very seriously and we will continue to work diligently to resolve any issues through all appropriate channels."

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