Federal Reserve Vice Chair for Supervision Michelle Bowman.Bloomberg News The Federal Reserve’s top regulator said changes are needed to the supplementary leverage ratio to improve the Treasury market and ensure banks face proper risk incentives. In a Monday speech, Fed Vice Chair for Supervision Michelle Bowman said the current calibration of the capital requirement is […]
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Mortgage modifications surged in the first quarter at the nation’s largest banks, reversing a yearlong decline, while foreclosure activity also saw a marked uptick, according to a new government report. The data suggests rising financial stress is hitting certain borrower segments, even as conditions for the mortgage market overall appear relatively strong, based on numbers
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Adobe Stock Shares of Northern Trust rose by more than 6% as of midday Monday after a news report that Bank of New York Mellon reached out to the asset servicing and investment management firm last week to discuss a potential acquisition. The CEOs of BNY and Northern Trust have had at least one discussion,
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Bloomberg News WASHINGTON — President Donald Trump on Friday evening signed a rule that officially eliminates the Office of the Comptroller of the Currency’s stricter reviews of certain bank mergers. Trump signed the Congressional Review Act resolution Friday nullifying the Office of the Comptroller of the Currency’s Biden-era rule that got rid of an expedited
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US previously owned home sales rose slightly in May to a still-sluggish pace that continues to show a housing market constrained by poor affordability. Contract closings increased 0.8% to an annualized rate of 4.03 million last month, just the second advance this year, according to data released Monday by the National Association of Realtors. That
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For many career servicemembers in the U.S. military, relocation is part of the job. Known as a Permanent Change of Station, these reassignments typically happen every two to four years and often involve moving an entire household: spouse, kids, pets and all. This is where lenders and real estate agents can play a critical role
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Life can feel a bit unpredictable these days. What’s happening with inflation? The economy? The housing market? But in the middle of all that uncertainty, there’s one thing a lot of people still crave – a place to call their own. Because when everything else feels up in the air, home can be the thing
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Compass, the largest real estate brokerage in the country by volume, has sued Zillow over its policy on private listings. Compass filed a lawsuit in New York on Monday, alleging that Zillow is breaking federal antitrust laws by permanently banning any listing that isn’t put on an MLS within a business day of being publicly
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Short-term market swings are nothing new but the kind of volatility mortgage lenders are dealing with today is driven less by predictable economic indicators and more by geopolitical tensions, trade policy shifts, and global headlines. While volatility has ticked up, it’s not at historic extremes. The CBOE Volatility Index, which measures stress in financial markets,
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On Saturday night, the U.S. bombed Iranian nuclear sites, sending shockwaves around the world and leading people to ask me what this means for mortgage rates. This type of global event can lead to significant market movements in oil prices, the U.S. dollar and the 10-year yield in the short term. However, this year, we’ve
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