Skip to main content

The Examiner


"Neither snow nor rain nor heat nor gloom of night stays these couriers from the swift completion of their appointed rounds"
- Unofficial motto of the US Postal Service, founded this day in 1775

Save the Date: National Mortgage Policy Summit

The American Association of Residential Mortgage Regulators (AARMR) and CSBS are hosting a summit to bring together policymakers, regulators and the industry to elevate the discussion around mortgage policy. 

The summit, to be held November 13 in Washington, DC, will include keynote presentations and panels representing viewpoints on mortgage policy at the national level. Invited speakers include members of Congress, federal agency leadership, industry leaders, consumer advocates, state regulators and other policy stakeholders. 

Registration will open in the coming weeks and will be available here.


The US housing market is experiencing an all-time high valued at $27.5 trillion, 15% higher than the pre-crisis peak, marked by growing household equity, delayed purchaser entry, historically low interest rates and recovered housing values. However, the market has been constrained by supply and an increasing lack of affordability, impacting low to moderate income and minority home buyers and adding pressure to loosen underwriting standards. The mortgage loan market itself has held steady in the $10 to $11 trillion range for the last 12 years, indicating stability in this crucial sector of the US economy. But, since the end of the financial crisis the industry has seen a dramatic shift in market share of both mortgage originations and servicing from banks to nonbanks, coupled with increased borrower risk profiles and potential credit quality concerns in certain sectors. 

Regulators, policy makers and other stakeholders are publicly and privately acknowledging and studying structural shifts in the industry. At the same time, Fannie Mae and Freddie Mac have been in conservatorship as federal policy makers and Congress remain focused on addressing the GSEs as part of larger reforms of the housing finance system. 

State regulators have an important role and stake in these policy discussions. During the summit, CSBS and AARMR will share how state regulators approach risk management, enhanced prudential standards for nonbank servicers, the use of technology in compliance and supervision and the future of the secondary market. 

Back to Top

New York Announces New Research and Innovation Division

Financial Services Superintendent Linda A. Lacewell announced this week the establishment of a new Research and Innovation Division at the Department of Financial Services (DFS), as well as leadership appointments in the new division, strengthening the mission of the Department as technology transforms the regulatory landscape.  Matthew Homer will lead the new division as Executive Deputy Superintendent; Matthew Siegel and Olivia Bumgardner will be Deputy Superintendents of the new division; and Andrew Lucas will serve as Counsel to the division.
“The financial services regulatory landscape needs to evolve and adapt as innovation in banking, insurance and regulatory technology continues to grow,” Superintendent Lacewell said. “This new division and these appointments position DFS as the regulator of the future, allowing the Department to better protect consumers, develop best practices, and analyze market data to strengthen New York’s standing as the center of financial innovation.”
The new Research and Innovation Division will support internal transformation and market innovation, ensuring that DFS keeps pace with the rapid changes in all sectors of the financial services industry and that New York remains the jurisdiction of choice for innovators.  It will house the Department’s division responsible for licensing and supervising virtual currencies, and it will assess new efforts to use technology to address financial exclusion; identify and protect consumer data rights; and encourage innovations in the financial services marketplace to preserve New York’s competitiveness as a financial innovation hub.

Back to Top

National Community Bank Survey Concludes; Results to be Announced in October

As the 2019 CSBS National Survey of Community banks concludes, we take a look back at the results from 2018, available in the video above.

The results of the 2019 survey will be released at the Community Bank Research Conference in October.

Back to Top

Featured Posts

Recent Posts