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Inside Washington (07/06/2009)
* WASHINGTON (7/7/09)--The Department of Housing and Urban Development (HUD) is revisiting its appraisal policies in light of complaints that its restrictions on appraisal management companies’ fees and lenders’ reliance on the management companies are discouraging appraisers from taking on loans insured by the Federal Housing Administration( FHA). Four trade groups wrote a letter July 1 to HUD Secretary Shaun Donovan. The letter stated that the loss of appraisers is adding risk to the FHA’s program (American Banker July 6). HUD said it is working on a response to the letter addressing the issue raised by the letter ... * WASHINGTON (7/7/09)--A proposed plan by the Federal Deposit Insurance Corp. (FDIC) to restrict private-equity firms from buying failed banks has sparked opposition from bank regulators. The plan would subject private-equity firms to additional capital, disclosure and cross-guarantee requirements (American Banker July 6). Financial observers say the plan goes too far and could increase resolution expenses. Private-equity investments would be unpalatable, said Wilbur Ross, an investor. Comptroller of the Currency John Dugan and Acting Office of Thrift Supervision Director John Bowman also said they oppose the plan. FDIC Chairman Sheila Bair noted the proposal is open for comment and is not final. The plan’s intent is not to scare off potential bidders of failed banks, but to prevent more failures, she added ...


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