With the help of technology and the FHFA, the CFPB can create Dynamic Disclosures for consumers. Better information will put borrowers on an equal footing with lenders, making non-Qualified Mortgage loans safer to originate.
Why does an industry so often criticized for charging high fees to low-income consumers think it can win over critics by adding members of the 1% to the payroll?
Taxpayers should not be paying to increase homeownership or to boost home prices. With interest rates low, lenders can charge for risk and homeowners can pay for it.
Forget directing downsized staffs to sell based on a particular person's share of wallet. Today's customers can tell the difference between brands that push products and brands that are genuinely trying to solve their problems.
Seeking to accelerate a process that results in taking someone's home should not be done lightly. Plus, a major driver of foreclosure time is not state law but who services the mortgage.
Trust isn't a message; it's a series of actions that demonstrate character. For the first time since the 2008 financial crisis, the banking industry established public goodwill through voluntary and proactive decisions.
The FHA's mission to promote housing has contributed to its downfall in addressing its other mission: To maintain fiscal discipline of the mortgage insurance fund.
