From “The Chrisman Commentary”

Don Curtis

Rob Chrisman Capital markets: dissecting the bank failure ___________________________________________________ The collapse of Silicon Valley Bank, attributed to a social media driven run on deposits, has triggered extreme volatility in the Treasury and mortgage-backed security markets, resulting in the most turbulent period since the global financial crisis and in doubling of daily trading volume. Market functioning has held up, but market participants say the turmoil has raised concern about a potential financial accident. Citigroup CEO Jane Fraser has warned that banks and regulators face new challenges in dealing with liquidity issues, as the rise of mobile apps to manage money has accelerated the pace of such events. “It’s a complete game… Read More

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News from “The Chrisman Commentary”

sandra

HUD, Ginnie, FHA, VA news and investor changes ___________________________________________________ HUD announced the submission of a final rule (Reinstatement of HUD’s Discriminatory Effects Standard) which would rescind the agency’s 2020 regulation governing Fair Housing Act (FHA or the Act) disparate impact claims and reinstate the agency’s 2013 discriminatory effects rule. Explaining that “the 2013 rule is more consistent with how the [FHA] has been applied in the courts and in front of the agency for more than 50 years,” HUD emphasized that it also “more effectively implements the Act’s broad remedial purpose of eliminating unnecessary discriminatory practices from the housing market.” FHA issued a reminder to servicers, FHA INFO 2023-19, about the use of the U.S. Department of the… Read More

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