The oversight agency for two government-sponsored enterprises sent out an image from President Trump over the weekend depicting a public offering for some of their shares near term but experts question the timing. The illustration from President Trump’s Truth Social post, like some others he’s posted around his policy initiatives, is designed to depict an […]
President Trump envisions November launch for mortgage IPO Read More »
Freddie Mac has expanded its program for loans on real-property factory-built homes that have features in common with traditional houses like pitched roofs, attached garages and permanent foundations. The government-sponsored enterprise said it is now buying single-section CrossMod homes loans for the first time, making it possible for borrowers to get reduced rates for housing
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The Trump administration is preparing to sell shares of Fannie Mae and Freddie Mac in an offering that could start as early as this year, according to a senior administration official. The plan could value the government-controlled mortgage giants at some $500 billion or more and would involve selling between 5% and 15% of their
Fannie, Freddie $30 billion IPO being weighed for this year Read More »
President Donald Trump said Thursday that he will nominate Stephen Miran, chairman of the White House Council of Economic Advisers, to fill a recent vacancy on the Federal Reserve Board.Bloomberg News WASHINGTON — President Donald Trump said he will nominate Stephen Miran, currently the chair of the Council of Economic Advisers, to the Federal Reserve
Trump says he will nominate Stephen Miran to Fed Read More »
Bloomberg News A new round of tariffs imposed Thursday has raised alarm among economists, lawmakers and financial analysts not just for their impact on trade flows and prices, but for the ripple effects on the financial sector. Broad tariffs on more than 90 countries went into effect Thursday, following the president’s previously announced deadline for
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Chris Kleponis/Bloomberg WASHINGTON — President Donald Trump signed an executive order meant to combat so-called debanking in the financial system. The order tells bank regulators to ensure that banks aren’t cutting off consumer access to accounts for political reasons. It also tells the regulators to remove reputational risk from their supervision handbooks, a step that
Trump signs debanking executive order Read More »
The Mortgage Bankers Association announced Wednesday that its Residential Board of Governors has passed a resolution calling for two influential government-sponsored enterprises to end their requirements for tri-merged credit reports. The move follows FHFA’s decision to allow score competition without changing tri-merge rules, and MBA’s earlier plan to explore the viability of using a single
MBA urges GSEs to end costly tri-merge credit reports Read More »
The Department of Housing and Urban Development is auctioning off hundreds of millions of dollars in reverse mortgages on Wednesday in a bid to reduce risk to its insurance fund. Close to 1,600 home equity conversion mortgages (HECMs) secured by vacant properties are for sale, a notice published by the department on the Federal Register
HUD plans to sell close to 4,000 HECM loans Read More »
Fannie Mae and Freddie Mac’s regulator announced additional leeway for them to invest more heavily in low-income housing tax credits in line with the passage of recent legislation. Each can now invest up to $2 billion for a total of $4 billion per year, twice the previous limit, according to a press release from U.S.
Fannie Mae and Freddie Mac’s regulator raising LIHTC limits Read More »
WASHINGTON — The Trump administration upped its rhetoric on debanking again on Tuesday, this time targeting banks themselves rather than their regulators. President Donald Trump once again took aim at two of the country’s largest banks, JPMorgan Chase and Bank of America, and their chief executives, for what he framed without evidence as discrimination against
Trump changes tone on debanking, lays more blame on banks Read More »