Key insight: A report from the White House Council of Economic Advisers claimed that the Consumer Financial Protection Bureau’s rules raised consumer interest rates and reduced the availability of credit since its inception. Supporting data: The report says the agency’s actions raised consumers’ borrowing costs by between $237 to $369 billion over the 13 years […]
White House report says CFPB raised borrowing costs Read More »
Officials responsible for mortgages that are directly government-backed weighed in on how they’re looking to address borrower affordability and performance risk amid policy change at the Mortgage Bankers Association’s servicing conference. Processing Content Federal Housing Administration Commissioner Frank Cassidy called his agency’s insurance-fund capital ratio “very strong” and hinted that a premium cut or other
FHA, Ginnie Mae, VA manage loan performance, affordability Read More »
Key Insight: Federal Reserve Gov. Michael Barr said the economy is currently ‘closest’ to a scenario in which AI gradually raises worker productivity without resulting in sweeping layoffs. Supporting data: Only 17% of firms currently use AI, according to a study cited by Barr. Forward look: Barr says policymakers must prepare for the worst, which
Fed’s Barr outlines AI risks to finance, labor market Read More »
Institutional investors modestly expanded their share of single-family home purchases in December, complicating President Donald Trump’s call to push large buyers out of the market. Processing Content Large investors, those that own between 100-999 properties, accounted for 3% of all single family-home purchases and mega investors, 1,000 or more properties, totaled a 2.8% share in
Institutional home buyers gained ground in December Read More »
A federal judge has defeated a trade group’s bid to stop tighter lending rules for clean energy loans, overriding protests that the move would hike costs and diminish demand. Processing Content The ruling on summary judgment this week by U.S. District Judge Tom Barber, in favor of the government, means administrators with the Property Assessed
Trade group loses bid to block PACE rules Read More »
Key Insight: Federal Reserve Vice Chair for Supervision Michelle Bowman said the Fed is exploring ways to reduce banks’ regulatory costs associated with mortgage lending and servicing. Expert Quote: “These potential changes would address legitimate concerns about mortgage market structure while maintaining appropriate prudential safeguards.” — Fed Vice Chair for Supervision Michelle Bowman. Forward Look:
Fed’s Bowman wants to boost banks’ share of mortgage market Read More »
Fair housing organizations are pushing back against the early termination of a consent order between the Department of Justice and Lakeland Bank over a redlining settlement. Processing Content The Public Interest Law Center filed a proposed amicus curiae brief arguing against a joint motion to end another Biden-era redlining agreement early. The document said the
DOJ, Lakeland redlining settlement contested by advocates Read More »
An integrated solution involving four key areas needs to come to fruition in order to solve the affordable housing crisis, the National Association of Mortgage Brokers argues in its latest white paper. Processing Content Those points were listed in a document accompanying the white paper and include: Increasing the housing supply Reducing regulatory barriers Lowering
NAMB outlines 4-part housing affordability fix Read More »
Key Insight: Inflation showed signs of cooling in January, with the annual inflation rate dropping to 2.4%. Supporting data: Prices excluding food and fuel rose 0.3% in January, while food increased 0.2% and energy prices ticked down by 1.5%, the report found. Forward look: The January inflation reading remains slightly above the Fed’s longstanding 2%
Inflation cools to 2.4%, bolstering Fed’s cautious rate outlook Read More »
Freddie Mac posted lower fourth-quarter and full-year earnings as revenue slipped and credit costs climbed, even as lawmakers on Capitol Hill renewed debate over whether the company and Fannie Mae are anywhere close to having the capital needed to exit conservatorship. Processing Content Lower net revenues and a higher provision for credit losses drove a
Freddie profit falls; Congress pushes back on IPO Read More »