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Fair Housing Finance Agency

Orrick, Herrington & Sutcliffe LLP

FHFA releases NPRM on revising FHLBanking System governance

On October 16, the FHFA released its NPRM to revise regulations governing the boards of directors and management of the FHLBank System. The proposed rule would update and clarify regulatory requirements on director...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter- October 2024 # 5

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Paul Hastings LLP

Daily Financial Regulation Update -- Tuesday October 29

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October 28, 2024 - The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing for the October–December 2024 and January–March 2025 quarters....more

Orrick, Herrington & Sutcliffe LLP

FHFA introduces new manufactured house price index

On October 9, FHFA introduced a new Manufactured House Price Index to provide quarterly data on price trends for manufactured homes, a market segment which it noted is an affordable option for homebuyers. The new data series...more

Orrick, Herrington & Sutcliffe LLP

FHFA publishes credit risk management guidance

On September 27, the FHFA published Advisory Bulletin AB 2024-03 which provided guidance to FHLBanks on establishing and maintaining a member credit risk management framework. The bulletin highlighted the importance of...more

Orrick, Herrington & Sutcliffe LLP

FHFA releases NPRM on capital requirements for FHLBanks

On September 27, the FHFA released its NPRM and request for comment to amend capital requirements for FHLBanks to modify limits on unsecured credit extensions. The proposal seeks to exclude interest-bearing deposit accounts...more

Orrick, Herrington & Sutcliffe LLP

FHFA reproposes amendments to its Suspended Counterparty Program

On September 18, the FHFA issued a second proposed rule to amend its Suspended Counterparty Program (SCP) regulation, following a review of comments on the initial proposal (covered by InfoBytes here). The SCP requires...more

Hudson Cook, LLP

Federal Consumer Protection Laws In Rental Property Management

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The Federal Trade Commission (FTC) announced a groundbreaking settlement with Invitation Homes, a large single-family rental home owner/operator, on September 24. ...more

Paul Hastings LLP

Daily Financial Regulation Update -- Tuesday October 1

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September 30, 2024- Federal Reserve Board Chair Jerome H. Powell gave a speech entitled “Economic Outlook,” at the National Association for Business Economics Annual Meeting in Nashville, Tennessee....more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday September 27

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September 26, 2024 - The U.S. Department of the Treasury is undertaking actions as part of a coordinated international effort to disrupt Russian cybercrime services. Treasury’s Financial Crimes Enforcement Network (FinCEN)...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday September 26

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The U.S. House Committee on Financial Services Subcommittee on Financial Institutions and Monetary Policy held a hearing entitled “Regulatory Recipe for Economic Uncertainty: The Endless Basel Endgame and an Onslaught of...more

Paul Hastings LLP

Daily Financial Regulation Update -- Tuesday September 10

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September 9, 2024- Securities and Exchange Commission Chief Accountant Paul Munter made a statement at the 2024 AICPA & CIMA Conference on Banks & Savings Institutions....more

Orrick, Herrington & Sutcliffe LLP

FHFA releases NPRM on housing goals for 2025-2027

On August 22, FHFA released a proposed rule on its housing goals for Fannie Mae and Freddie Mac (the GSEs) for 2025-2027 as required by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992. FHFA is...more

Orrick, Herrington & Sutcliffe LLP

FHFA’s OIG issues report on FHFA supervision of FHLBanks

On August 19, the OIG for the FHFA released a report evaluating the agency’s supervision of FHLBanks following the issue of four member banks during spring 2023. The report summarized four findings: (i) the FHFA has not...more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday August 28

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August 27, 2024 - The Federal Reserve Board released the minutes from its recent meetings to review and determine the discount rates provided to depository institutions through the discount window....more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday August 15

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August 14, 2024 - All Financial Services Committee Republicans—led by Chairman Patrick McHenry (NC-10)—sent a letter to Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg demanding his immediate...more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday August 14

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August 13, 2024 - The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled, “When Are Central Bank Reserves Ample?” August 13, 2024 - The Federal Deposit Insurance Corporation...more

Paul Hastings LLP

Daily Financial Regulation Update -- Monday August 12

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August 9, 2024 - The U.S. Department of the Treasury, Federal Reserve Board, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Securities and Exchange Commission, Commodity Futures Trading...more

Alston & Bird

Structured Finance Spectrum - Summer 2024

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Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features the new UK securitization regime, eHELOCs, and climate risk disclosures....more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday July 31, 2024

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July 30, 2024 - The Board of Directors of the Federal Deposit Insurance Corporation (“FDIC”) approved a notice of proposed rulemaking, which if implemented, will effectively roll back significant portions of 2020’s...more

Cooley LLP

Federal Regulators Act to Enhance Property Valuations During Mortgage Origination Process

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On July 17 and 18, 2024, federal financial regulators adopted rules and guidance setting forth expectations in the mortgage industry that originators properly oversee use of automated valuation models (AVMs) and entertain...more

Orrick, Herrington & Sutcliffe LLP

Financial regulators release final AVM rule for publication

On July 17, the CFPB, OCC, Fed, FDIC, NCUA and FHFA adopted a final rule titled “Quality Control Standards for Automated Valuation Models.” As previously covered by InfoBytes, this final rule implemented new provisions...more

Orrick, Herrington & Sutcliffe LLP

CFPB and FHFA release data from the National Survey of Mortgage Originations

On July 1, the CFPB and FHFA released updated loan-level data from 2013-2021 through the National Survey of Mortgage Originations (NSMO). The NSMO, established in 2014, gathers quarterly data from borrowers who recently...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - July 2024 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Orrick, Herrington & Sutcliffe LLP

FHFA approves Freddie Mac's second mortgage pilot

On June 20, FHFA conditionally approved a limited pilot program for Freddie Mac to begin purchasing certain single-family closed-end second mortgages. This decision came after implementing a new approval process for products...more

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