Key Insight: The CFPB has enough money to operate through Dec. 31st, but the Justice Department filed a motion about a “potential lapse in appropriations.” Supporting Data: The government is relying on claims by the Office of Legal Counsel that the central bank lacks “combined earnings” to fund the CFPB, as required by the Dodd-Frank […]
DOJ: CFPB cannot request new funding from the Fed Read More »
Fannie Mae and Freddie Mac, two influential mortgage buyers the United States holds in conservatorship, are looking into doing more with loans transferred between buyers and sellers, according to Federal Housing Finance Agency Director Bill Pulte. “At Fannie and Freddie, we are evaluating how to do assumable or portable mortgages in a safe and sound
Fannie, Freddie eyeing assumable or portable loans: Pulte Read More »
President Donald Trump downplayed criticism of the potential creation of a 50-year mortgage product, saying it would help more Americans afford monthly payments on homes. “It’s not even a big deal,” Trump said in an interview with Fox News that aired on Monday. “All it means is you pay less per month. You pay it
Trump defends 50-year mortgage plan, calling it ‘not a big deal’ Read More »
The Veterans Affairs home loan benefit has been available for more than 81 years, yet misconceptions about the program persist, a Navy Federal Credit Union survey found. These misunderstandings affect both eligible borrowers and real estate professionals concerned about VA requirements. VA mortgage applications accounted for 13.4% of all mortgage applications in the week ending
VA loans gain ground despite misconceptions and shutdown Read More »
The record-breaking US government shutdown is nearing an end after a group of moderate Senate Democrats agreed to support a deal to reopen the government and fund some departments and agencies for the next year, people familiar with the talks said. Under the agreement, Congress would pass full-year funding for the departments of Agriculture, Veterans
Shutdown nears end as Senate Democrats agree to funding deal Read More »
By Oct. 1, the first day of the federal government shutdown, mortgage subservicer Loancare was already fielding calls from borrowers asking what it meant for them and whether forbearance or other relief options were available. Consumers may have been more optimistic then. By Nov. 7, the shutdown had entered Day 38, concern was growing. How
How some mortgage servicers have handled shutdown fallout Read More »
The range of fixed-rate mortgage terms and other outcomes possible through government-sponsored enterprise reform got a lot wider over the weekend. President Trump and Bill Pulte, the head of the GSEs’ oversight agency, used the social media channels they often employ to float ideas in order to advocate for a 50-year mortgage, a concept at
Trump, Pulte float 50-year mortgage use in U.S. Read More »
Bill Pulte said the government-sponsored enterprises will see partnerships emerge as he eyes their money-making potential, while also upping criticism of homebuilders and the Fed chair at a housing conference Friday. In a call with attendees at the Residay 2025 conference in New York, the Federal Housing Finance Agency director pointed at the recent Trump
Pulte suggests new Fannie Mae, Freddie Mac business deals Read More »
A loan program allowing homeowners to pay for clean energy upgrades through property tax bills will still be subject to tighter lending rules next year, a federal judge ordered. The Property Assessed Clean Energy (PACE) program allows borrowers to pay for home improvements, from storm hardening to solar panels, via future property tax assessments. The
Effort to halt CFPB’s new PACE rules hits roadblock Read More »
Bess Adler/Bloomberg Key insight: Federal Reserve Gov. Christopher Waller’s comments suggest the barriers to nonbank firms acquiring a “skinny” Fed master account — a concept Waller himself introduced late last month — may be higher than were previously assumed. Expert Quote: “There’s a misunderstanding out there that somehow just a fintech can show up and
Waller hedges on nonbank access to ‘skinny’ master account Read More »