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Politics and policy

Fate of Fed intertwined with FTC Democrat, Supreme Court told

Law and regulation, Politics and policy /

Allowing President Donald Trump to remove independent agency members undermines the legal basis for the independence of the Federal Reserve, lawyers for the Federal Trade Commission’s sole remaining Democrat told the US Supreme Court Monday. Attorneys for FTC Commissioner Rebecca Kelly Slaughter made that argument in a filing that seeks to allow her to remain in her […]

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Trump makes new push for court approval to fire Fed’s Cook

Federal Reserve, Politics and policy /

President Donald Trump on Sunday made a final push to sway a US appeals court to let him oust Federal Reserve Governor Lisa Cook over allegations of mortgage fraud before next week’s Fed vote on interest rates, again telling the court that she’s failed to dispute the claims. Trump last week asked the Washington-based appeals court to

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Why MBA is renewing opposition to a Fannie-Freddie merger

Capital markets, Politics and policy, Secondary markets, The Great American Mortgage Corporation /

The Mortgage Bankers Association’s chief issued a reminder of why it has opposed merging two influential government-sponsored loan buyers as federal officials signaled momentum in pursuing a public offering. “Creating a government-conferred monopoly would diminish innovation, degrade service to market participants and heighten systemic risk,” MBA President and CEO Bob Broeksmit said in a blog

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GSE talks revive push for 30-year loan changes

Fannie Mae, Freddie Mac, Housing markets, Politics and policy, The Great American Mortgage Corporation /

The 30-year mortgage without a prepayment penalty has long been standard in the U.S., but the latest round of GSE reform has some former officials questioning it. The debate has new relevance given that two influential GSE loan buyers that have been in government conservatorship are now exploring potential restructuring with industry input. Many housing

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CFPB warns staff of upcoming layoffs due to GOP funding cuts

Litigation, Politics and policy, Regulation and compliance, Trump administration /

Key Insight: Congress passed the president’s massive tax and spending bill in July that lowered the maximum amount of funding the CFPB can request from the Federal Reserve System. Supporting Data: The CFPB’s fiscal 2025 operating budget is capped at an estimated $446 million, a 43% drop from the funding cap of $785.4 million in

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Trump appeals ruling allowing Fed Gov. Cook to remain

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

Key insight: The White House has appealed a lower court ruling granting Federal Reserve Gov. Lisa Cook an injunction that allows her to remain at her post pending the outcome of her lawsuit challenging the president’s moves to fire her. What’s at stake: The appeals process, even if expedited, is unlikely to affect Cook’s participation

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Inflation creeps higher in August, amid looming rate cut

Economy, Home Prices, Monetary policy, Politics and policy /

Key Insight: Consumer prices rose 0.4% in August, doubling July’s 0.2% increase, indicating inflation is rising but remains moderate. Supporting Data: The inflation numbers come after the U.S. economy reported only 22,000 jobs in August, the weakest gain since the pandemic recovery, while unemployment ticked up to 4.3%. Forward Look: The data likely does not

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Experts: Pulte’s disclosures on Cook may violate privacy law

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

What’s at stake: President Trump moved to fire Federal Reserve Gov. Lisa Cook via social media on Aug. 25, five days after Housing FInance Agency Director Bill Pulte raised allegations that Cook had engaged in mortgage fraud. Cook challenged her removal in court and was granted a preliminary injunction Tuesday night. Key insight: Pulte publicly

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How lenders can prep for NFIP lapse, shutdown

Flood insurance, Mortgage technology, Originations, Politics and policy, Servicing /

Congress faces tough budget negotiations this month over the National Flood Insurance Program reauthorization and other issues, putting the single-family mortgage market on alert. Without a NFIP renewal by Sept. 30, flood coverage could lapse and a broader congressional impasse could cause a new government shutdown, requiring workarounds. What follows are a few of the

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What lenders want if Trump declares housing emergency

Industry News, Politics and policy, Regulation and compliance /

Housing finance experts have a myriad of ideas for President Donald Trump should he declare a national housing emergency.  Treasury Secretary Scott Bessent hinted at the move in a Labor Day interview with the Washington Examiner, noting that closing costs “are on the table.” While housing regulators have implemented some measures this year to address

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