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Author name: Ricky Vasquez

HUD plans new time limits, work requirements for rental assistance

Government Lending, Housing Market, HUD, HWmember, NPR, Regulatory, Rental Assistance, USDA /

The leaders seated earlier this year in the U.S. Department of Housing and Urban Development (HUD) are reportedly planning new time limits and work requirements for recipients of the department’s existing rental assistance programs, according to an internal document viewed by NPR. The document reportedly reveals that HUD is planning on limiting the amount of […]

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Why Friday’s jobs report won’t compel Powell to cut rates

Housing Market, HWmember, Jobs Report, Mortgage Rates /

Will Friday’s jobs report compel Federal Reserve Chairman Jerome Powell to cut rates by 1%, as President Trump suggested on social media today? The answer is no. While the labor market is showing signs of cooling and there are some indications of stress in certain sectors of the economy, today’s report, although it exceeded estimates,

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Why the Senate should protect funding for the CFPB

CFPB News & Analysis, Politics and policy /

The Consumer Financial Protection Bureau has been an effective watchdog for consumers, and its secure, independent funding is key to its effectiveness. That’s why a new proposal from the Senate Banking Committee for the massive budget bill now quickly moving through Congress (H.R. 1) to eliminate this source of funding for the Consumer Bureau is

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MISMO puts eHELOC specs out for comment

Digital mortgages, E-Commerce, HELOCs, Mortgage technology, Secondary markets /

In a move that could further boost a mortgage segment that’s expected to grow, the Mortgage Industry Standards Maintenance Organization has put the SMART Doc V3 eHELOC Specification out for comment for a 30-day period through July 5. MISMO, a subsidiary of the Mortgage Bankers Association, is the development standards body for the mortgage industry,

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If the CFPB axes the LO comp rule, what happens?

CFPB News & Analysis, Industry News, Politics and policy /

The Consumer Financial Protection Bureau under the Trump administration is eyeing revisions and a possible rescission to a number of rules governing the mortgage industry. The consumer watchdog sent five rules to the Office of Management and Budget for review on June 4. Rules on the queue include the Loan Originator Compensation Requirements under the

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Change Co. emerges victorious after suing ex-employee

CDFIs, Industry News, Law and legal issues, Originations /

Community development financial institution The Change Company won judgment against a firm led by its former employee, who previously sued the lender, lodging allegations of misconduct. The Anaheim, California-based parent of Change Lending filed suit in 2023 against Yeti Global Services, a company owned by its former chief of staff Adam Levine. Change accused Levine

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Michelle Bowman

Bowman’s reform agenda targets ratings, supervision, capital

Minimum capital requirements, Politics and policy, Regulation and compliance, Trump administration /

Federal Reserve Gov. Michelle Bowman, who was confirmed as the central bank’s next vice chair for supervision this week.Bloomberg News Bank ratings, examination practices and capital requirements are all poised for reforms under the Federal Reserve’s new chief regulator. In her first speech since being confirmed as Fed vice chair for supervision, Michelle Bowman outlined

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Traders reel in Fed cut bets as strong job data drags on bonds

Economic news, Mortgage Rates, Treasury bonds /

Treasuries slumped after stronger-than-expected US job and wage growth prompted traders to trim bets that the Federal Reserve will cut interest rates this year.  The Friday selloff lifted yields across maturities by as much as 10 basis points, led by shorter-dated tenors more sensitive to Fed rate changes. The benchmark 10-year note’s rate rose eight

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Senators ask FHFA to pause plans to privatize Fannie, Freddie

Fannie Mae, FHFA, Freddie Mac, GSE Reform, Politics and policy /

A group of Democratic senators, including Elizabeth Warren and Chuck Schumer, asked the director of the Federal Housing Finance Agency to pause any efforts to privatize mortgage finance companies Fannie Mae and Freddie Mac. President Donald Trump said on social media last month that he’s considering a public stock offering for the two government-backed enterprises,

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