WASHINGTON, D.C. – The Community Mortgage Lenders of America (CMLA) today issued a statement in regard to the extension of the QM Patch by the CFPB. “We are very happy the CFPB has listened to our position and is planning to extend the QM Patch,” said Michael Jones, Chair of CMLA. “Our extensive and comprehensive efforts provided the insight …
Michael Jones Selected As New CMLA Chair
WASHINGTON, D.C. – Michael Jones, CFO of Thrive Mortgage will be the new Chairman of The Community Mortgage Lenders of America. Michael has been a member of the Board since 2017 and has served as the Treasurer prior to his election as the new Chair. Michael will replace Kim Curtis, President & CEO of Tidewater Home Funding, LLC, who completed …
CMLA Joins ICBA, CHLA, and LBA In Letter To FHFA Regarding GSE Capital Rule
December 19, 2019 Mark Calabria Director Federal Housing Finance Agency 400 7th St SW Washington, DC 20219 Dear Director Calabria, We, the undersigned, are writing to express concerns that the recent announcement by the Federal Housing Finance Agency (“FHFA”) to re-propose the regulatory capital rule for Fannie Mae and Freddie Mac ( GSEs) will lead to an …
The Community Mortgage Lenders of America’s Statement on FSOC’s 2019 Annual Report
Washington, DC. – (December 9, 2019) – The CMLA always welcomes thoughtful, data-based regulatory constructs that recognize the relative strengths and challenges of each mortgage delivery channel. Our Main Street lenders weathered the Great Recession precisely because they underwrote every mortgage like it was their own family’s. And in truth, the owners’ money is on the line for every underwriting …
MAIN STREET GSE REFORM COALITION COMMON GSE REFORM PRINCIPLES
WASHINGTON, D.C. – The Federal Housing Finance Agency (FHFA) has recently announced it will increase the capital of Fannie Mae and Freddie Mac to levels that will protect taxpayers and greatly reduce the risk of a future bailout. The Main Street GSE Reform Coalition, representing affordable housing advocates, civil rights organizations, small and mid-sized lenders, and homebuilders, believes that the …