Archive for November, 2008
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Nov 21, 2008
No CommentsOTS Reinforces Commitment to Fair Lending Enforcement
By Edward Kramer As a result of recent potential pricing and decisioning disparities in mortgage loan data, the Office of Thrift Supervision issued on November 19, 2008 Thrift Bulletin 25a, an update of the 1989 TB 25. The bulletin focuses on the obligations of thrift institutions to conduct their own internal assessments, by stressing that: ...
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Nov 20, 2008
No CommentsComptroller Dugan Defends CRA
By Edward Kramer Comptroller of the Currency John C. Dugan said he categorically disagrees with suggestions that the Community Reinvestment Act is partly responsible for the ongoing credit crisis. “CRA is not the culprit behind the subprime mortgage lending abuses, or the broader credit quality issues in the marketplace,” Mr. Dugan said in a speech...
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Nov 12, 2008
No CommentsMirror, Mirror on the Wall, According to the 2007 HMDA Data Who is the Fairest of Them All?
By Jeff Robb Mirror, Mirror, who in this land is the fairest lender of them all? Just like the mirror in the fairytale Snow White, the HMDA data tells the truth. And since the data is public, the data tells a tale to your regulator and to your community about your lending practices and patterns....
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Nov 07, 2008
No CommentsSigns Point to Tougher Regulatory Stance
By Edward Kramer Yesterday, two prominent members of the House and Senate committees overseeing the financial services industry expressed their views about the structure and role of the regulatory agencies. Here are a few brief comments. Senator Chris Dodd, chairman of the Senate Banking Committee: “We must ensure that all institutions that present a risk to...
