The Consumer Financial Protection Bureau (CFPB) on Wednesday issued a final rule to immediately rescind the nonbank registry rule and a proposal to create a registry of nonbank contract terms and conditions. The decision was applauded by mortgage trade groups. The nonbank registry rule was published in the Federal Register in July 2024 and set […]
CFPB drops nonbank registry rule, citing cost burden Read More »
A growing number of economists believe that the Federal Reserve is close to announcing the end of its quantitative tightening (QT) program — a move that could have wide-reaching implications for the mortgage industry. Over the past few weeks, central bank officials have signaled they are prepared to wind down the policy aimed at shrinking
Fed prepares to pivot balance sheet, with potential ripple effects for mortgages Read More »
Federal Housing Finance Agency (FHFA) Director Bill Pulte said on social media Wednesday that his agency is reviewing the loan-level price adjustment (LLPA) matrix — the fees charged on conventional loans to account for risk. Pulte said the review is being led by Barry Habib, the founder and CEO of MBS Highway and a well-known
Pulte says LLPA fees under review, signals relief for borrowers Read More »
I’ve been involved in federal housing policy for more than 50 years, beginning my career at the U.S. Department of Housing and Urban Development (HUD) in the 1970s and later serving on the staff of the U.S. House Committee on Banking, Finance and Urban Affairs — now the Financial Services Committee — from 1983 to
It’s time for a federal housing policy reset Read More »
Trade groups representing community banks and home lenders are urging the Trump administration to allow Fannie Mae and Freddie Mac to purchase mortgage-backed securities (MBS) to help bring down mortgage rates. The idea relies on amending the Preferred Stock Purchase Agreements (PSPA) to enable the GSEs to purchase up to $300 billion of their own
Trade groups push plan to let GSEs buy MBS to ease mortgage rates Read More »
Mortgage Bankers Association President and CEO Bob Broeksmit on Monday called 2025 a “historic year” for the trade group, highlighting major legislative and regulatory victories during his opening address Monday morning at the association’s Annual Convention and Expo in Las Vegas. Broeksmit shared with the audience that the MBA helped shape roughly 10% of all
MBA’s Bob Broeksmit celebrates legislative victories in 2025 Read More »
The Trump administration has hinted at declaring a national housing emergency. Treasury Secretary Scott Bessent floated the idea, and President Trump confirmed it is under consideration. A “federal emergency” sounds dramatic and grabs headlines. But here’s the reality: declaring one might ease financing restraints for single-family buyers, say, by subsidizing closing costs, but can it
If there’s a national housing emergency, let’s be honest about what It really means Read More »
The Federal Housing Finance Agency (FHFA) is seeking public feedback on its proposed strategic plan for 2026–2030, the agency announced Wednesday. The document, described as “consistent with its statutory requirements and President Trump’s executive orders,” marks a sharp shift from the Biden-era plan. It introduces new priorities such as fraud detection and deregulation, while scaling
FHFA proposes 2026-2030 strategic plan, signaling shift under Trump administration Read More »
Treasury Secretary Scott Bessent told CNBC on Wednesday that he’ll soon be giving President Donald Trump several candidates to serve as the next chair of the Federal Reserve. “Likely sometime after Thanksgiving, in December, we’ll present the president with three or four candidates for him to interview,” Bessent told CNBC’s Sara Eisen. Bessent disclosed that he’s trimmed the
Trump to receive Fed chair candidates in December Read More »
Fair Finance Watch, a self-described watchdog for the financial services industry, has filed early opposition to Fifth Third Bank‘s proposed acquisition of Comerica, urging the Federal Reserve to hold public hearings and scrutinize the Cincinnati-based lender’s mortgage lending record before approving the deal. In a letter sent Oct. 8 to Fed Chair Jerome Powell and
Fair Finance Watch opposes Fifth Third-Comerica merger Read More »