CRE Transmits its Recommendations on Transfer Fees to FHFA

 CRE has completed its review of  the transfer fee issue and has submitted its findings to FHFA.  The CRE report is attached hereto.

 CRE’s recommendations are based upon an extensive review of the many comments it received on the Interactive Public Docket dedicated to this subject matter. CRE expresses its appreciation to the many stakeholders who participated in this review.

Transfer Fees final Jan 19

Obama orders all fed agencies to review regulations

By Lori Montgomery
Washington Post Staff Writer
Tuesday, January 18, 2011; 3:04 PM

President Obama on Tuesday ordered every federal agency to conduct a systematic review of existing regulations, a concerted effort to banish red tape at a time when the administration is eager to promote economic growth and to repair its fractured relations with the business community.

Bernanke on Municipal Bond Bailout: No Way

From: CNBC

On Friday, Federal Reserve Chairman Ben Bernanke dismissed the possibility that the central bank would intervene in the municipal credit markets.

In testimony before the Senate Budget Committee Bernanke said: “We have no expectation or intention to get involved in state and local finance.” He later said that states “should not expect loans from the Fed.”

The comes according to a story in Friday’s Wall Street Journal.

According to the Journal, the rationale for the policy of nonintervention is the following:

Where is financial regulation headed in 2011?

(Reuters) – A torrent of new rules for Wall Street and U.S. banks is pouring off Capitol Hill into the federal regulatory agencies, unleashed by the devastating 2008-2009 financial crisis.

The agencies are where the action will be this year and next as regulators, lobbyists and lawmakers struggle to implement the Dodd-Frank financial reforms.

With parallel efforts under way in Europe, Dodd-Frank is likely to be implemented as written, though banks are lobbying for softening parts of it to protect their profits and business models.

Here’s what lies ahead in 2011: