Despite speculation following the Federal Open Market Committee’s June meeting that a rate cut could come as early as this month, most economists still expect the central bank to hold off until September or later. Only one respondent in Wolters Kluwer’s Blue Chip Economic Indicators survey, conducted July 7 and 8, after the stronger-than-expected June […]
No Fed cut in July, nearly all economists surveyed say Read More »
The Department of Housing and Urban Development has “effectively disband[ed]” the Biden-era interagency Property Appraisal and Valuation Equity initiative, the federal housing agency announced late Thursday. The department withdrew three mortgagee letters related to appraisal reviews, including the reconsideration of value process, it noted in its press release. These recessions were previously highlighted in an
HUD dissolves “woke” policies created by appraisal task force Read More »
Federal Reserve Gov. Christopher Waller.Bloomberg News Federal Reserve Gov. Christopher Waller said the central bank does have a problem with income losses, but interest paid on reserves are not to blame. In a speech delivered at the Federal Reserve Bank of Dallas on Thursday, Waller made the case that the true source of the Fed’s
Waller says QE to blame for Fed losses on reserve interest Read More »
The Federal Reserve Employment was a focal point for the Federal Reserve’s most recent monetary policy deliberations, with officials expressing various levels of concern about its outlook. Policymakers were united in their view that interest rates should remain unchanged during last month’s Federal Open Market Committee meeting, but divides were apparent on several key considerations
Fed minutes show focus shifting to employment Read More »
Black Americans have long faced an uphill struggle to homeownership, and new data suggests that those problems aren’t going away anytime soon. Black homebuyers are 1.7 times more likely to be denied a mortgage than other races, according to the latest report from Lendingtree. In 2024, 19% of Black applicants were denied mortgages, significantly higher
Black Americans still struggle to get mortgages, study finds Read More »
Adobe Stock WASHINGTON — New Jersey lawmakers have introduced a bill in the state that would create a state-level Community Reinvestment Act, one that would apply to more financial institutions than its federal counterpart. The bill would extend CRA review beyond banks to online institutions, credit unions and nonbank mortgage lenders. Other states, including Illinois,
NJ to consider CRA bill that would rope in nonbanks Read More »
A sweeping new law, branded as a pillar of President Trump’s second-term agenda, carries significant implications for the housing market, from affordable housing to investor tax breaks. Within the colossal 870-page package are a number of changes that have won applause from many in the housing industry. “These provisions form the backbone of the real
What the new tax law means for lenders, borrowers Read More »
Annabelle Gordon/Bloomberg Advocates for military credit unions Tuesday urged top lawmakers on a senate appropriations subcommittee to restore funding for the Community Development Financial Institutions Fund, after the White House proposed eliminating new funding. In the letter, addressed to Financial Services and General Government Subcommittee Chair Bill Hagerty, R-Tenn., and Ranking Member Jack Reed, D-R.I.,
Military credit union group urges Congress to fund CDFIs Read More »
Bloomberg News The Supreme Court’s ruling allowing President Trump to proceed with mass firings of federal employees does not directly affect the Consumer Financial Protection Bureau, according to the CFPB’s employee union, which is fighting workforce reductions at the agency in court. The CFPB’s union has a separate case pending before a panel of the
Supreme Court ruling won’t directly impact CFPB case Read More »
The US Supreme Court let President Donald Trump move ahead with plans to dramatically reduce the size of the federal government, lifting a court order that had blocked 19 federal departments and agencies from slashing their workforces. Granting a Trump request over one dissent, the justices on Tuesday cleared the administration to implement Trump’s Feb. 11 executive
Supreme Court lets Trump proceed with broad workforce cuts Read More »