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Politics and policy

FHA premium cancellation bill reintroduced in the House

FHA, LOAN PRODUCTS, Originations, PMI, Politics and policy, Servicing /

A bipartisan bill looking to end the Federal Housing Administration’s life-of-loan requirement for that form of mortgage insurance coverage has been reintroduced in the House of Representatives. The Mortgage Insurance Freedom Act was previously introduced in last year’s lame duck session of Congress by Rep. Gregory Meeks, D-New York, and Rep. Pete Sessions, R-Texas. Under […]

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Why FHFA is exiting network for ‘greening’ financial system

Politics and policy, Secondary markets /

The regulator for two government-related mortgage investors is leaving the Network of Central Banks and Supervisors for Greening the Financial System, according to the former’s director. Director Bill Pulte informally circulated the departure on the social media platform X in line with his practice of using that forum to announce new policy. Pulte heads the

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How the Trump administration has neutralized the CFPB

CFPB News & Analysis, Politics and policy, Regulation and compliance, Trump administration /

Key Insight: The CFPB still exists and mass layoffs have not yet occurred but the Trump administration has dropped enforcement actions and eliminated rules, nullifying the agency’s broad reach.  Expert Quote: “The last eight months or so have been unlike any others with just a completely different tenor, completely different levels of activity and a

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More rate cuts eyed as Fed zeroes in on soft labor market

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

Key insight: The Federal Reserve’s move to cut rates was bolstered by growing concern over a softening labor market. Expert quote: “Almost everyone wrote down support for this cut. Some supported more cuts, and some didn’t — and that’s just how it is,” — Fed Chair Jerome Powell  What’s at stake: Despite the Fed moving

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Fed watchers anticipate rate cuts, watch for dissents

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

What’s at stake: The Federal Reserve’s interest rate-setting body is expected to cut the federal funds rate by 25 basis points, but markets are also listening for hints of further and/or deeper cuts in the coming months.   Expert quote: “There’s the possibility that the Fed will be sending mixed messages because the consensus probably won’t

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Condo Sales Are Soaring All Over Manhattan -- Except Midtown

Housing organizations call for condo loan flexibility

Condos and HOAs, Housing markets, Politics and policy /

President Donald Trump has been considering declaring a National Housing Emergency over the past few weeks, and some housing organizations are putting in requests for items to be included. The Community Home Lenders of America and the Community Associations Institute jointly asked the administration Wednesday to allow the Federal Housing Administration to insure loans on

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Fed cuts but only some mortgage rates are moving lower

Capital markets, LOAN PRODUCTS, Mortgage Rates, Originations, Politics and policy, Servicing /

The Federal Open Market Committee’s decision to meet broad expectations for a 25 basis point cut might not give many people in the market for a home loan the break they anticipated. “What does that do for mortgage rates? I think we’ve already seen that show up. The last three, four weeks, we’ve seen mortgage

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What underserved market supporters want to see in GSE reform

Capital markets, Housing markets, Politics and policy, Secondary markets /

Affordable housing groups weighing on behalf of underserved communities are advocating for a cautious approach to the government-sponsored enterprise reform the Trump administration is pursuing. “Any changes to the enterprises cannot raise costs on renters and homeowners,” the Underserved Mortgage Markets Coalition said in laying out one of its priorities for reform as administration officials

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Senate Democrats urge regulators to rethink CRA reversal

CRA, Politics and policy, Regulation and compliance, Regulation and the New Administration /

Key Insight: Democratic Lawmakers say the 2023 CRA made important updates to a decades old framework, accounting for online banking and reducing CRA “grade inflation.” Supporting Data: The 2023 rule was backed by bipartisan members of the Federal Reserve Board, including Governor Waller and Chair Powell. Forward Look: Lawmakers are pressing regulators to defend the

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Appeals court rejects Trump’s bid to remove Cook from Fed

Federal Reserve, Litigation, Politics and policy, Trump administration /

Key insight: A federal appeals court denied the Trump administration’s effort to remove Federal Reserve Gov. Lisa Cook from the central bank’s board of governors. Expert quote: “Here, the plain purpose of providing for-cause protection was to assure members of the Board of Governors — and national and global markets — that they do not

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