Apply Online
Schedule a Call

Politics and policy

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, […]

Senators ask FHFA to pause plans to privatize Fannie, Freddie Read More »

Jobs numbers dash hopes for rate cut, mortgage hiring rises

Economic indicators, Mortgage Rates, Originations, Politics and policy /

May’s slightly stronger than anticipated employment data dampened lenders’ hopes for further downward pressure on rates in the immediate future, as they added incrementally to payrolls for the spring homebuying season. U.S. employers overall added 139,000 jobs last month, above consensus expectations for around 130,000. Unemployment remained stable at 4.2%. Nonbank mortgage employment, which is

Jobs numbers dash hopes for rate cut, mortgage hiring rises Read More »

Senators scrutinize Rocket’s Redfin, Mr. Cooper deals

Industry News, M&A, Politics and policy, Rocket Mortgage /

Five U.S. Senators have called into question the lack of federal antitrust oversight of Rocket Companies’ proposed acquisitions of Redfin and servicing powerhouse Mr. Cooper. Lawmakers, including Sens. Elizabeth Warren, D-Mass, and Cory Booker, D-N.J.,sent a letter to the Justice Department’s Antitrust Division and the Federal Trade Commission demanding to know why the agencies did

Senators scrutinize Rocket’s Redfin, Mr. Cooper deals Read More »

HUD memo reportedly warns of staff cut impact on mortgages

Fraud, HUD, Politics and policy, Regulation and compliance /

The Department of Housing and Urban Development’s own counsel is reportedly concerned that Trump administration-induced staff cuts could disrupt mortgage operations and increase fraud and litigation risks.  The revelations stem from an internal HUD document seen by Bloomberg Citylab, according to an article published Thursday. Staff departures at the regulator could allegedly “greatly delay”‘ or

HUD memo reportedly warns of staff cut impact on mortgages Read More »

Federal Reserve Board Gov. Adriana Kugler

Fed’s Kugler not ready to look past tariff inflation

Federal Reserve, Monetary policy, Politics and policy, Tariffs /

Federal Reserve Board NEW YORK — At least one Federal Reserve official expects tariffs to lead to higher inflation, and she is worried the effects could be long lasting.  Speaking before the Economic Club of New York on Thursday, Fed Gov. Adriana Kugler said she sees ways in which higher trade barriers could lead to

Fed’s Kugler not ready to look past tariff inflation Read More »

Michelle Bowman

Bowman confirmed as top regulator at Fed

Politics and policy, Regulation and compliance, Trump administration /

Federal Reserve Gov. Michelle BowmanBloomberg News WASHINGTON — Michelle Bowman has been confirmed by the U.S. Senate to be the Federal Reserve vice chair for supervision.  The Senate confirmed Bowman’s nomination in a 48-46 vote, split along party lines. Once she is sworn in, Bowman will serve as the top bank regulator at the Fed,

Bowman confirmed as top regulator at Fed Read More »

Wells Fargo

Wells shed its asset cap — but it isn’t clear why

Enforcement, Politics and policy, Regulation and compliance /

Bloomberg News In 2018, the Federal Reserve Board’s total growth restriction on Wells Fargo established a new tool for dealing with large banks with broken compliance cultures. Many in and around the banking space viewed the $1.95 trillion asset cap — imposed in response to Wells Fargo’s cross-selling and fake accounts scandals — as a

Wells shed its asset cap — but it isn’t clear why Read More »

FHA tweaks updates to loss mit options, ‘face-to-face’ rule

Distressed, Politics and policy, Servicing /

The Federal Housing Administration has revised updates planned for rules around contacting and offering options to distressed borrowers. The FHA has removed required outreach at particular times from a planned transition to permanent loss mitigation options from temporary pandemic contingencies, and also is tweaking modernization of what were originally “face-to-face” meeting requirements. Overall, the new

FHA tweaks updates to loss mit options, ‘face-to-face’ rule Read More »

Rodney Hood

Trump-era OCC eyes lighter capital rules to boost lending

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

Acting Comptroller of the Currency Rodney HoodBloomberg News WASHINGTON — Acting Comptroller of the Currency Rodney Hood confirmed that the Trump administration plans to revise capital requirements for banks, aiming to ease what he described as excessive regulations that could constrain credit.  The remarks, delivered to a crowd at the U.S. Chamber of Commerce’s Capital

Trump-era OCC eyes lighter capital rules to boost lending Read More »

fischer-stanley-bl070214-357.jpg

Former Fed vice chair Stanley Fischer dies at 81

Federal Reserve, Monetary policy, Obituaries, Politics and policy /

Former Federal Reserve Vice Chair and noted macroeconomist Stanley Fischer, who passed away Saturday at 81.Bloomberg News (Bloomberg) — Stanley Fischer, a professor and practitioner of macroeconomics who helped guide central banks in two countries, Israel and the US, and mentored a younger generation of economic decision-makers, has died. He was 81. He died on

Former Fed vice chair Stanley Fischer dies at 81 Read More »