Clifford Rossi
Understanding the Risks of Multiple Credit Scores in Mortgage Lending
Regulators and industry have for years discussed how to prudently expand access to mortgage credit. With improved modeling and...
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Clifford Rossi
Jun 4, 20202 min read
Economic Impacts of a Moratorium on Consumer Credit Reporting
Two bills introduced in Congress, H.R. 6370 and S. 3508, ‘‘Disaster Protection for Workers’ Credit Act of 2020’’ would impose a...
Clifford Rossi
Sep 27, 20191 min read
Risk Management Reflections and Lessons for the Future
Post-crisis progress has clearly been made, but there is still much work to be done to steer clear of subsequent financial disasters....
Clifford Rossi
Aug 19, 20191 min read
Comprehensive Reform Is Needed to Reduce Mortgage Risk
There are proposals on the table to reprivatize and recapitalize Fannie Mae and Freddie Mac, but such a restructuring would not be...
Clifford Rossi
Jul 19, 20191 min read
Will Shadow Banking Cause the Next Financial Crisis?
Complicated by the recent entrance of Facebook, the opaque, poorly-regulated nonbank financing market could eventually threaten global...
Lucas Mearian
Jun 20, 20191 min read
Facebook’s cryptocurrency ratchets up pressure on banks, but has big risks
Facebook's announcement that it would launch a cryptocurrency called Libra ratchets up the pressure on commercial banks, at a time when...
Clifford Rossi
Jun 14, 20191 min read
How to Better Understand and Manage Natural Disaster Risks
Extreme-weather events are on the rise, and financial institutions must account for them in their loan portfolios. What’s the real impact...
Clifford Rossi
May 9, 20191 min read
How to Prevent Another Crisis: Mitigating the Risk of Nonbank Mortgage Lenders and Servicers
When the next major downturn occurs, will the industry be stable enough to survive? That could depend on risk management and regulatory...
Clifford Rossi
Apr 19, 20191 min read
Mortgage Risk: Why We Should Eliminate the Debt-to-Income Ratio Limit
The current DTI rule for qualified mortgages is too restrictive and should be abandoned in favor of more reasonable underwriting standards.
Clifford Rossi
Mar 15, 20191 min read
How to Reduce Risk from Credit Reporting Companies
U.S. credit reporting agencies are currently plagued by risk management deficiencies and inadequate regulatory oversight. What steps can...
Clifford Rossi
Mar 12, 20191 min read
Wells Fargo CEO to Appear Before Congress on Tuesday
Tim Sloan, CEO of Wells Fargo testified before Congress today on their progress dealing with a number of consumer account scandals...
Clifford Rossi
Feb 15, 20191 min read
Risk Management Lessons from the Wells Fargo Report
The bank’s self-analysis of its critical risk deficiencies should serve as a cautionary tale, emphasizing the importance of risk culture,...
Clifford Rossi
Jan 18, 20191 min read
Strategic Risk Will Be Front and Center in 2019
Global economic stability is currently being threatened by geopolitical risk, climate change and the cyber revolution. What steps can...
Clifford Rossi
Dec 21, 20181 min read
The FDIC’s Obsession with Brokered Deposits is Misplaced and Outdated
Instead of adopting rules geared toward eliminating risky bank behavior, the supervisory agency continues to embrace arcane policies that...
Clifford Rossi
Nov 30, 20181 min read
Congress’s Faulty Assessment Process of FHA Loan Program Puts Taxpayers at Risk
More than a decade after the crisis, the risk to the FHA’s Mutual Mortgage Insurance Fund from a major mortgage downturn remains...
Clifford Rossi
Oct 26, 20181 min read
The Collateral Valuation Battle: Will Technological Improvements Actually Lead to Greater Mortgage R
Increasingly, so-called automated valuation models are replacing manual appraisals in the mortgage industry. But while AVMs are faster,...
Melissa Angell
Sep 28, 20181 min read
Credit unions fire back at Elizabeth Warren’s CRA plan
Credit unions are fighting back against Sen. Elizabeth Warren’s proposal to subject them to the Community Reinvestment Act. While it’s...
Clifford Rossi
Sep 28, 20181 min read
How to Avoid the Next Crisis: Motivating Banks to Improve Risk Management
Wells Fargo’s ongoing problems have demonstrated that there are still significant flaws in the so-called CAMELS supervisory rating system...
Clifford Rossi
Sep 4, 20181 min read
Reflections on the Financial Crisis: Markets and Regulation Factors
Opaque credit derivatives, increased shadow banking and ineffective mortgage regulation were among the market conditions that...
Clifford Rossi
Jul 27, 20181 min read
Reflections on the Financial Crisis: Product and Process Factors
Product morphing and fatal process flaws played an important role in the economic meltdown. How have product risk and process risk...
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