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Politics and policy

FHFA set to end equitable housing finance plans for GSEs

Fair Housing Act, Housing markets, Politics and policy, Regulation and compliance, Secondary markets /

The Federal Housing Finance Agency is proposing to repeal its fair lending, fair housing and equitable housing finance rule, stating it is looking to comply with Pres. Trump’s executive orders. Furthermore, the rule is duplicative, with the laws behind each portion administered by other agencies. But Jannell Byrd-Chichester, general counsel for the National Fair Housing […]

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Private flood insurance growing as federal coverage recedes

Flood insurance, Law and regulation, Originations, Politics and policy, Servicing /

Private flood insurance use rose notably in recent years as utilization of federal coverage inched down due to adjustments to public programs that have included more latitude in the mortgage sector. Over the last four years, private coverage grew 20% while public policies the National Flood Insurance Program offers receded by 2%, according to a

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Bipartisan bill seeks to boost affordable housing

Affordable housing, Politics and policy, Trump administration /

A bipartisan group of lawmakers is leading an effort to increase housing supply through the introduction of a bill that would boost investments in affordable housing — a priority set by the Trump administration. Senate Banking Committee Chair Tim Scott, R-S.C., and Sen. Lisa Blunt Rochester, D-Del., along with several other senators, introduced the Community

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GSEs could exit conservatorship fast, experts say

Politics and policy, Regulation and compliance, Secondary markets /

The government-sponsored enterprises’ exit from conservatorship could be unexpected and quick, the senior vice president of mortgage finance policy at the Independent Community Bankers of America said. While a methodical process may take place, he wouldn’t be surprised if the opposite happens, Ron Haynie said, speaking during an online presentation from Lenders One and the

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New ruling answers legacy mortgage bond servicing question

Law and legal issues, Politics and policy, RMBS, Securitization, Servicing /

The New York Supreme Court has weighed in on a contractual dilemma Wells Fargo has reportedly faced as a residential mortgage-backed securities trustee with a responsibility to oversee investor payment distributions impacted by unforeseen policy changes. A judge has ruled on how trustees and servicers should handle forborne principal from loans in the now-defunct Home

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Trump, Powell tussle over renovation costs in rare visit

Trump, Powell tussle over renovation costs in rare visit

Interest rates, Monetary policy, Politics and policy, Trump administration /

Getty Images President Donald Trump paid a rare visit to the Federal Reserve Board headquarters Thursday afternoon to confront Fed chair Jerome Powell over cost overruns related to a building renovation project that began in 2022.  Trump and other members of his administration have raised the cost overruns related to the Federal Reserve’s renovation —

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DOJ to appeal ruling reinstating fired NCUA board members

DOJ to appeal ruling reinstating fired NCUA board members

Litigation, NCUA, Politics and policy, Trump administration /

Frank Gargano The Justice Department says it will appeal a lower court ruling reinstating two fired Democratic board members of the National Credit Union Administration and that found their April terminations unlawful. The Department of Justice on Wednesday filed a notice with the U.S. Court of Appeals for the District of Columbia Circuit that it

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Bill to expand ADU financing introduced in Congress

Affordable housing, Politics and policy /

A new bill proposed in Congress would make it easier for homeowners to build accessory dwelling units on their properties, a step supporters say will help alleviate the nation’s housing affordability crisis. The legislation, called the SUPPLY Act, aims to expand access to second mortgages for homeowners who want to build an ADU by making

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Figure to recombine lending arm and marketplace into one entity

Blockchain, Cryptocurrency, Industry News, Politics and policy /

The founder of Figure is moving to recombine the company he split into two parts just a year ago Mike Cagney, the head of the fintech firm, announced via LinkedIn that Figure, the firm’s lending arm, and Figure Markets, a blockchain-powered financial marketplace, will become one entity again. “I split the company in two last

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