Lending and Leasing

FSR Advocates on behalf of members that provide consumer and small business loans and leases, mortgage lending and servicing, as well as members that invest in these assets.

Letter re: OCC Guidelines on Heightened Standards for Large Insured National Banks & Insured Federal Savings Associations

March 28, 2014

The purpose of the Proposed Guidelines is to establish minimum standards for the design and implementation of risk governance frameworks of insured national banks, Federal savings associations, and insured Federal branches of foreign banks, with average total consolidated assets of $50 billion or more (together, Bank) and minimum standards for directors overseeing framework designs and implementation.

FSR: Action on Housing Finance Reform Encouraging

March 27, 2014

“This is another demonstration that Congress is serious about the need to reform the housing finance system by winding down Fannie Mae and Freddie Mac and replacing them with a new structure that provides more private capital and maintains liquidity,” said FSR’s Housing Policy Council President John Dalton.


A Step Closer to Replacing Fannie and Freddie with a Stronger Housing System

March 14, 2014

The Johnson-Crapo agreement highlights the major issues that lawmakers, the Administration and industry stakeholders agree should be part of housing finance reform legislation. We expect Committee Chairman Tim Johnson (D-SD) and Ranking Republican Member Mike Crapo (R-ID) to release a draft bill publicly in the next several days.


Letter of Support: H.R. 4167, the Restoring Proven Financing for American Employers Act

March 13, 2014

Financial Services Roundtable (“FSR”) supports H.R. 4167, the Restoring Proven Financing for American Employers Act, sponsored by Rep. Andy Barr, and thanks the Committee for its consideration. The bill makes an important improvement to Section 13 of the Bank Holding Company Act (also known as the Volcker Rule) which will aid banking entities in their efforts to provide financing to U.S. companies.

GSE Reform Principals Promising Step in the Right Direction

March 11, 2014

“The government housing finance monopoly should end and the reform principles announced today are a positive step towards needed reform,” said Tim Pawlenty, CEO of FSR. “The time for reform is long overdue and we hope the broad, bipartisan support for the principles unveiled today helps propel action by the Senate. FSR looks forward to seeing a full bill from Senators Johnson and Crapo that would replace the GSEs with a private, capital-based secondary mortgage market.”


Janet Yellen to Congress: Get GSE Reform Done

February 12, 2014

Janet Yellen added the voice of the Federal Reserve to the growing call for Congress to move swiftly to decide the future of Fannie Mae and Freddie Mac. Yellen told the House Financial Services Committee during a hearing yesterday that it was “very important” for Congress to create a new system that will address the future of government sponsored enterprises, which currently finance more than 90 percent of all residential mortgages in the United States.

Strengthening the Consumer Experience for Homebuyers

February 11, 2014

As the housing market recovers, many potential homebuyers have not engaged in home buying or refinancing in the past 6 years. The process is rapidly changing and consumers are only now beginning to experience the effects of such change. It would be more beneficial to lenders and ultimately consumers if the CFPB would allow the new rules governing mortgage lending to settle in before attempting to assess the quality of the mortgage closing experience for American homebuyers.


HPC Letter re: CFPB’s “Know Before You Owe” Deferral, 2/7/14

February 7, 2014

The undersigned trade associations have consistently supported efforts to improve the mortgage process and welcome the opportunity to assist in any manner for that purpose. Nevertheless, we write to you today to strongly urge that the Consumer Financial Protection (CFPB) defer the next stage of its Know Before You Owe effort, which apparently includes the captioned request for information on the closing process.