Week InAdvance: October 5, 2015
QUOTE OF THE WEEK | IMF Managing Director Christine Lagarde, speaking ahead of the IMF-World Bank Annual Meetings that take place October 9-11 in Lima, Peru, stated that the world is at a "difficult and complex juncture." MORTGAGE DISCLOSURE RULE | House action is planned this week on a measure that would delay the Consumer Financial Protection Bureau's enforcement of a Dodd-Frank mortgage disclosure rule until Feb. 1, 2016, under H.R. 3192. The rule was scheduled to take effect on Oct. 3. The bill also would protect lenders from liability for any violations of the rule before Feb. 1 if they have made a good faith effort to comply. The House Financial Services Committee approved the bill 45-13 on July 28. HOUSING FINANCING | Senators Bob Corker and Mark Warner will get another chance to press their case for comprehensive housing-finance reform when they give keynote remarks Tuesday at a forum on the biggest remaining issue from the mortgage crisis. The lawmakers are set to speak at a conference on efforts to reduce taxpayer exposure to housing-market risk. The event comes weeks after Corker introduced a bill to spur the U.S. to resolve the status of Fannie Mae and Freddie Mac, the dominant mortgage firms that have operated under federal conservatorship since they were seized in 2008.
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