The Government Accountability Office has issued new warnings about the public sector’s exposure to nonbank mortgage risks and said the Federal Housing Finance Agency and Ginnie Mae have agreed to do more to manage them. Processing Content The GAO indicated the nonbank share of the secondary mortgage markets that the FHFA oversees as conservator and […]
FHFA, Ginnie pledge tighter nonbank oversight Read More »
Key insight: The better-than-expected jobs report saw 130,000 jobs added in January, while unemployment dropped to 4.3%. What’s at stake: The Federal Reserve is watching the numbers closely as Chairman Jerome Powell considers the central bank’s dual inflation and employment mandate. Forward look: The strong job numbers reduce the need for the Fed to slash
US adds 130,000 jobs in January; unemployment rate falls Read More »
Key insight: The House is poised to pass a housing affordability package with wide bipartisan margins. What’s at stake: The House bill contains a number of community bank provisions that are absent from the Senate version of the bill. Forward look: Warren’s opposition to those riders will make passage in the upper chamber more challenging,
Housing bill passes House with community bank riders Read More »
Key insight: The CFPB’s leadership cited ongoing litigation as the reason for not cooperating with the Government Accountability Office. Supporting data: The GAO reiterated what was found in court documents, finding that the CFPB had planned to fire 88% of the staff. Forward look: A federal appeals court will hear oral arguments in late February
CFPB blocks GAO investigators in layoff report Read More »
President Donald Trump wants to ban big investors from buying more houses. Some local governments are already on the case – and Atlanta is ground zero. Processing Content The Atlanta area has the highest share of corporate-owned single-family rentals in the US, and that’s spooked many locals. Residents fume about the impact on prices. Politicians
Trump plan to improve home affordability faces test in Atlanta Read More »
As the House prepares to vote next week on the Housing for the 21st Century Act, mortgage industry groups are lining up in support of a bill that bundles a wide range of changes to housing finance, federal oversight and development policy. Processing Content The Mortgage Bankers Association on Friday urged lawmakers to pass the
MBA, lenders rally behind Housing for 21st Century Act Read More »
Trump administration officials are exploring opening an antitrust investigation into US homebuilders as the White House sharpens its focus on tackling the country’s housing affordability crisis. Processing Content The Department of Justice could open the probe in the coming weeks, according to people familiar with the discussions. No decision has been made and the administration
White House explores opening antitrust probe on homebuilders Read More »
Key insight: The three credit bureaus — Equifax, Experian and TransUnion — say the complaint portal is being abused by third-party credit repair firms and AI bots. What’s at stake: Credit repair firms are using the CFPB’s complaint portal to try to remove accurate but negative information from credit reports. Supporting data: Credit reporting complaints hit
CFPB implements new requirements for complaints on its portal Read More »
Key insight: WomenVenture, a Minneapolis-based Community Development Financial Institution, has assisted 108 small businesses seeking emergency assistance as federal immigration enforcement operations strain revenues and workforces across Minnesota. Forward look: The organization is establishing an emergency rapid response fund with other Minnesota CDFIs and community foundations, while navigating uncertainty around the CDFI Fund, which provides
How one CDFI is navigating the chaos in Minneapolis Read More »
Key insight: Treasury Secretary Scott Bessent said that the smallest banks should be deregulated, but didn’t endorse any specific policies to do so. Forward look: Chairman French Hill’s, R-Ark., community bank policy package has been overtaken by crypto bills and other priorities on the House floor and the Senate. Expert quote: “Stop being his flunky.”
Bessent offers deregulatory vision, but few specifics Read More »