A Maine real estate agent is proposing a bill that would give homeowners a state tax deduction on mortgage insurance premiums as well as offer grants to help lower loan payments. Processing Content Introduced by Democratic Rep. Wayne Farrin, who is also a licensed real estate agent, the bill would lead the state to implement […]
Maine bill targets MIP costs, lower rates for homebuyers Read More »
Key Insight: State bank regulators and examiners say the federal supervision regime has long been in need of streamlining, and supervisory changes announced by the Federal Reserve are seen as a step in the right direction. Expert Quote: “To me it doesn’t sound like a retreat of the Federal Reserve so much as they are
State regulators optimistic about shift in bank supervision Read More »
The Department of Housing and Urban Development is ordering citizenship checks for tenants in HUD-funded housing, part of its work with the Department of Homeland Security. Processing Content Friday’s announcement follows an audit in which the departments found almost 6,000 ineligible non-American tenants in the units, among nearly 200,000 tenants requiring eligibility verification. Another 25,000
HUD orders citizenship checks for tenants in funded housing Read More »
Long-standing plans at Ginnie Mae to enable loan-level servicing transfers in its mortgage-backed securities could move faster this year under its President Joseph Gormley. Processing Content “Ginnie Mae is increasing the velocity of the initiative to evolve its security platform from pool-level operation to loan-level,” the government guarantor wrote in its annual report, calling this
Ginnie Mae speeds up loan-level MBS overhaul Read More »
What’s at Stake: The lawsuit accuses JPMorganChase of trade libel and breach of good faith, claiming CEO Jamie Dimon violated Florida’s Unfair and Deceptive Trade Practices Act. Supporting Data: Under commercial law and bank account agreements, banks can close accounts at any time for any reason, leading many experts to call the suit “frivolous.” Forward
Trump’s JPM lawsuit unlikely to succeed, experts say Read More »
President Trump is said to have expressed reluctance to back penalty-free use of tax-advantaged 401(k) funds for down payments as he returned from the World Economic Forum in Davos, Switzerland. Processing Content Trump reportedly told representatives of news outlets like The Hill and USA Today who asked about the concept that he is “not a
Trump pulls back from 401(k) use for down payments Read More »
Federal efforts to push rates lower have helped boost mortgage production, but they are also creating headwinds for servicing that are starting to show up in earnings. Processing Content US Bank generated record revenue overall, but in the details beneath that top-line item was a $11 million drop in the valuation for servicing rights, net
Banks see MSR strain despite strong top-line results Read More »
Key Insight: The Supreme Court’s focus on procedural and due process concerns suggests that Fed Governor Lisa Cook is likely to remain in her post while her case against the Trump administration proceeds. Expert quote: “While it’s always perilous to try to predict where the Court will come out, it seems to me that the
Trump Fed majority stalled, not stopped, if Cook remains Read More »
Key Insight: The Federal Deposit Insurance Corp. is restructuring its supervisory appeals process. Supporting data: The final rule requires the three-member appeal panel to have at least one member with supervisory or examination experience and another with industry experience. Forward look: Comptroller of the Currency Jonathan Gould said the Office of the Comptroller of the
FDIC adds banker to regulatory appeals board in final rule Read More »
A trio of industry trade groups has suggestions for ways the White House can take action to meet a policy goal around making single-family homeownership more accessible to consumers without the legislation some other concepts require. Processing Content Ending a requirement to pay for three credit reports, reducing loan-level pricing adjustments and Federal Housing Administration
Coalition backs 3 ways to cut housing costs without Congress Read More »