Editor's Note: This is a monthly publication on economic trends and financial policy issues. In this publication you can read "The Longbrake Letter", an analysis of economic trends and conditions written by Bill Longbrake, as well as commentary on financial regulation and policy written by members of the law firm Barnett, Sivon & Natter, P.C., a Washington, DC based law firm that specializes in financial services law.

ISSUE: #56, February 2015

The Longbrake Letter
- Bill Longbrake
It would seem that everything is coming up roses, at least in the U.S. Is this a goldilocks world? In this month's letter Bill Longbrake discusses global mega trends, secular stagnation and global monetary policies, the long-run implications of which appear to be at odds with the short-term goldilocks scenario. Bill concludes that it's hard to say where all this leads but it probably won't be what the consensus expects.

CFPB Proposal To Amend Small Bank Exceptions to Mortgage Rules
- Ray Natter
The recent CFPB regulatory proposal would change some of the requirements for granting exceptions from the CFPB's mortgage rules for smaller lenders. Some of the proposed changes would both broaden the number of smaller lenders that would qualify for one or more exceptions from current regulatory constraints. Other changes would constrict the scope of the exceptions. The impact of the proposal on any particular lender will depend on the asset size, organizational structure, and operational profile of any particular lending institution.

Want a Robust Housing Market? Then Adjust the Regulatory Mindset
- Bob Barnett
Based on reports from experts in the field, regulators should reassess the work they have done in the mortgage servicing sphere if the desire is to create a more robust housing market. The present effort has erected barriers to reaching that objective.

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