House Democrats sent a letter Tuesday to the U.S. Department of Housing and Urban Development Secretary Scott Turner, asking him to rescind a recent decision that would slash funding for affordable housing programs. HUD’s Notice for Funding Opportunity for the Fiscal Year 2025 Continuum of Care Program, issued on Nov. 13, would cut support for […]
House Democrats urge HUD to reverse housing funds cut Read More »
Representative Eric Swalwell, a California Democrat who has been a frequent critic of Donald Trump, filed a lawsuit on Tuesday claiming Federal Housing Finance Agency Director Bill Pulte abused his power to retaliate against one of the president’s political opponents. Swalwell alleges Pulte obtained and used the lawmaker’s personal mortgage records in violation of US privacy laws
Swalwell claims Pulte abused power to target Trump critics Read More »
Key Insight: The enhanced supplemental leverage ratio was adjusted to be half of a bank’s Global Systemically Important Bank surcharge, cutting headline capital requirements while reaffirming risk-based capital rules as the primary binding constraint for banks. Supporting data: The new rule cuts banks’ Tier 1 capital needs by less than 2% for the GSIBs, but
Regulators finalize revised leverage rule for big banks Read More »
A federal grand jury is examining the handling of the mortgage fraud investigation into Sen. Adam Schiff of California according to a subpoena to a witness in the case. The subpoena was sent to Republican activist Christine Bish, who appeared before the grand jury in Maryland Nov. 20. It asked her for any communications and
DOJ examining handling of Schiff mortgage investigation Read More »
U.S. Federal Housing is increasing the multifamily caps at Fannie Mae and Freddie Mac for 2026 by over 20% compared to this year, a level which keeps pace with volume growth in recent months, observers said. The combined cap of $176 billion is split evenly between the two companies at $88 billion. This year’s cap
FHFA boosts Fannie, Freddie multifamily caps over 20% in ’26 Read More »
A federal judge threw out the criminal charges against former FBI Director James Comey and New York Attorney General Letitia James, ruling that the prosecutor who brought the cases had been illegally appointed. The appointment of Lindsey Halligan as interim US attorney for the Eastern District of Virginia was unlawful, US District Judge Cameron McGowan
James Comey, Letitia James charges dismissed by judge Read More »
Privatizing the National Flood Insurance Program would raise premiums by hundreds of dollars, according to a study that estimates the impact as policymakers weigh potential changes and mortgage-related coverage costs climb. The average 64% increase would equate to an additional $600 in annual costs for the average homeowner with flood insurance, who currently pays $933
What privatizing the NFIP would cost homeowners: Insurify Read More »
Key Insight: Federal Reserve Gov. Lisa Cook says emerging risks are arising over how artificial intelligence may influence financial markets. Expert quote: “Recent theoretical studies find that some AI-driven trading algorithms can indeed learn to collude without explicit coordination or intent, potentially impairing competition and market efficiency.” — Federal Reserve Gov. Lisa Cook. What’s at
Fed’s Cook sees risk in gen AI-manipulated financial trading Read More »
The Federal Housing Administration is waiving its policy requiring mortgagees to provide borrowers with a longstanding notice that lays out FHA loan rights and responsibilities. The waiver for use of the “Important notice to homebuyers” disclosure is in line with the federal government’s broader deregulatory agenda, and ends the use of “a redundant and outdated
FHA waives disclosure as nominee for commissioner advances Read More »
President Donald Trump suggested he would fire Scott Bessent if the Treasury secretary doesn’t help secure lower interest rates, expressing ongoing frustration with the Federal Reserve’s reluctance to cut rates more quickly. Trump’s remarks — made in a joking tone — come amid increased pressure on the administration from voters to lower the cost of
Trump quips he’ll fire Bessent if interest rates not lowered Read More »