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aRTiCLeS


          Chairman Hensarling to Retire                          remained well below the peak crisis average. The national average

          from Congress                                          for mortgage loans 30 to 89 days past due was 2.1 percent, down
                                                                 from a peak high of 4.2 percent in 2009. The CFPB also noted
          House Financial Services Committee Chairman Jeb Hensarling   that the states hit hardest during the financial crisis – including
          (R-TX) announced that he will retire at the end of his current   California, Arizona, Nevada and Florida – have seen significant
          term. Chairman Hensarling was first elected to represent a   declines in delinquency rates in recent years.
          Dallas area district in 2002 and he has served as chairman of   To read more visit: https://www.consumerfinance.gov/data-
          the Financial Services Committee since 2013. Under the House   research/mortgage-performance-trends/
          Republican rules, he has reached the limit on the number of
          terms he can serve as Committee chairman.
                                                                 FHFA: Fannie Mae Falls Short

          Judge Dismisses ABA,                                   of Some Low-Income Housing
          Washington Federal Lawsuit                             Goals
          Over Fed Dividends                                     The Federal Housing Finance
                                                                 Agency in its Annual Housing
          A federal judge has dismissed                          Report said that both Fannie
          the lawsuit filed by ABA and                           Mae  failed to  meet two of
          Seattle-based Washington                               its four affordable housing goals – those for very-low income
          Federal seeking damages                                buyers purchasing single-family homes and low-income buyers
          resulting from the United                              refinancing their mortgages – in 2016. The GSE met its goals
          States’ improper reduction in dividends paid to Federal Reserve   for low-income buyers purchasing single-family homes and the
          member banks. ABA is working with Washington Federal and   goal for home purchases in low-income areas. Freddie Mac
          outside counsel to review the opinion and evaluate options for   achieved all four of its affordable housing goals, FHFA said.
          an appeal. The cut to the long-established dividend was part   Both GSEs met the goals for multifamily lending.
          of the 2015 highway spending bill, which reduced the annual
          dividend for Fed-member banks with more than $10 billion   Toview the report visit: https://www.fhfa.gov/AboutUs/
          in assets by two-thirds. ABA and Washington Federal’s suit in   Reports/ReportDocuments/2017-Annual-Housing-Report-
          the U.S. Court of Federal Claims asserted breach of contract   October-30-2017.pdf
          and taking of private property without just compensation in
          violation of the Fifth Amendment to the Constitution.  ABA Survey: Farm Profitability
                                                                 Remains Down but Fewer
          CFPB: Mortgage Delinquency                             Lenders Report Declines
          Rates Reach Post-Crisis Lows
                                                                 Farm profitability continued to decline in the first half of 2017,
          Mortgage delinquencies                                 according to the latest agricultural lenders survey conducted by
          in the U.S. have reached                               ABA and Farmer Mac. While the overwhelming majority of
          their lowest point since                               ag lenders–82 percent–reported declines in profitability, that
          the   financial  crisis,                               figure was down seven points from six months before. The
          according to data from                                 approval rate for ag loans was 84 percent.
          the Consumer Financial
          Protection Bureau’s new mortgage performance trends    “We were encouraged to see that lenders remain ready to assist
          tool, which the bureau recently unveiled. The tool tracks   farmers and fulfill their credit needs despite the drag in the
          delinquencies nationwide for two separate cohorts: borrowers   agricultural economy,” said Brittany Kleinpaste, director of
          between 30 and 89 days behind on their payments, and those   economic policy and research at ABA. “Overall, the data showed
          more than 90 days overdue.                             that agricultural lenders are a little more optimistic about what’s
                                                                 ahead for their customers than they were in December of 2016.”
          The CFPB’s data showed that serious delinquencies – those past
          90 days due – have fallen from a peak of 4.9 percent in 2010 to   Just over half of the lenders surveyed reported an increase in
          1.1 percent. The highest number of serious delinquencies were   demand for agricultural operating loans, and 53 percent said
          reported in New Jersey and Mississippi, though both states   they expect that trend to continue over the next six months.
                                                                 Lenders were also more confident in stable land values than in
                                                                 the previous survey.




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