Home >> Author Archives: Krista Franks Brock (page 30)

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.

ICBA Outlines Regulatory Priorities with Eye Toward Exemptions

The Independent Bankers of America (ICBA) outlined its regulatory priorities for this year at the National Convention and Techworld in Las Vegas earlier this month. The organization addressed several industry reforms and pending regulations it asserts will negatively and unfairly impact community banks. For example, ICBA suggests any financial institution with $50 billion or less in assets be exempt from Basel III. Likewise, the group argues community banks should be exempt from new lending and servicing reforms.

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FHFA: Prices Rise 0.6% from December to January

The Federal Housing Finance Agency's (FHFA) Home Price Index rose 0.6 percent in January, the agency reported. The monthly increase recorded in January is just slightly above December's downwardly-revised increase of 0.5 percent. While prices continue their upward trend nationally, one-third of the nine U.S. Census Divisions recorded price declines in January--the East South Central Division, the New England Division, and the Middle Atlantic Division.

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Attorneys General Call for DeMarco’s Replacement

In a letter addressed to the president as well as the Senate majority and minority leaders, a group of attorneys general representing nine states refer to Edward DeMarco, acting head of the Federal Housing Finance Agency, as a "direct impediment to our economic recovery" and called for his replacement. The attorneys' general complaint stems from DeMarco's refusal to allow the GSEs to engage in principal reductions for struggling and underwater homeowners.

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Study Finds Evidence of Gender Discrimination in Loan Approvals

Women are less likely to be approved for mortgage loans than their male counterparts, even when loan-to-income ratios are equal, according to a new study from the Woodstock Institute, a Chicago-based, nonprofit research and policy organization. The findings reveal an 8 percent disparity between the likelihood of a woman and man with similar loan-to-income ratios receiving a purchase loan and a 21 percent disparity among approval rates for male and female refinance applicants.

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Fed Governor: Consumer Protections May Come with a Cost

As the industry prepares to implement the Consumer Financial Protection Bureau's (CFPB) new ability-to-repay rules, Federal Reserve Governor Elizabeth Duke warns new consumer protections may come at a cost to the industry as lower-quality-credit borrowers are precluded from the housing market. As the broader economy continues to improve, household formation will increase, according to Duke, "but if credit is hard to get, these will be rental rather than owner-occupied households."

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Fitch Notes Potential in FHFA Efforts to Restore Private Market

The goal of attracting private capital into the mortgage market is at the center of discussions throughout the industry and the government. Thus far, efforts by the Federal Housing Finance Administration (FHFA) and other federal agencies to provide incentives for the creation of a vibrant private mortgage securitization market have been largely unsuccessful, according to Fitch Ratings. However, the ratings agency does see some promise in a couple of FHFA's goals for this year.

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