Policy News from National Mortgage News

The economy lost 23,000 jobs in July, but the unemployment rate ticked down to 4.1% all the same. The development could embolden both hawks and doves at the central bank.

The bill, which is meant to free up housing supply locked in by high mortgage rates, does not include assumable mortgages which stick with the property.

Supporters of mutual banks are lining up behind a proposed regulatory overhaul. The Fed's plan would make it easier for depositor-owned banks to raise capital.

Sen. Elizabeth Warren and other senators sent a letter to six insurers challenging their use credit-based insurance scores to determine risk-based pricing.

Opponents argued that Provident Bank, which bought Lakeland in 2024, had yet to disburse millions of dollars remaining on a mortgage subsidy fund.

Mortgage servicers would like to shed responsibility for second liens but they may be exchanging one set of workflows for others.

Mark Paoletta, the Consumer Financial Protection Bureau's chief legal officer, has taken over as the agency's acting director. Russell Vought's term ended Aug. 1.

A federal lawsuit against the now defunct mortgage company has been dropped but John DiIorio wants to also demonstrate officials acted in bad faith.

The Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency issued a joint notice of proposed rulemaking for the Community Reinvestment Act that would tailor requirements for smaller institutions and monitor which groups receive community development grants.

The Wall Street Journal reported federal whistleblower allegations exist, citing unnamed sources and viewed documents, but the firm said it has seen no proof.

The American Bankers Association, Bank Policy Institute and Securities Industry and Financial Markets Association submitted comment letters to the Securities and Exchange Commission arguing that a proposed change to Form S-3 eligibility would make it more difficult for some banks to access the capital markets.

Federal Reserve Chair Kevin Warsh acknowledged that his limited guidance might have been a factor in rising market rates, but said whatever increased volatility can be attributed to the changes is more than offset by the benefit of a more nimble central bank.

Loandepot is arguing that its local rival, West Capital Lending, has no standing to sue it over the statute meant to protect consumers from predatory lending.

Christopher Peterson, a law professor at the University of Utah and former senior advisors at the Consumer Financial Protection Bureau, is the latest top hire for a Democratic state stepping up consumer protection.

The Congressional Budget Office's latest read on loan and guarantee costs points to the risks and value of government-sponsored enterprises in conservatorship.

Heading into this week's Federal Open Market Committee meeting, the Fed's core indicators are painting a different picture of the economy than real-time measures, injecting more uncertainty into Wednesday's FOMC meeting than usual.

The agency proposed to repeal a regulation that requires FHLBanks to submit formal notices before engaging in new business activities that carry unmanaged risk.

The trade group supports FHFA's overhaul but urges longer comment periods, more flexibility and protections to prevent unintended consequences.

Though the crimes occurred earlier this decade, they highlight how much easier it has become to create false documents today, given the rise of artificial intelligence.

Brian Johnson, President Trump's nominee to lead the Consumer Financial Protection Bureau, navigated a somewhat contentious Senate Banking Committee hearing dominated by Democratic opposition but without giving away specific plans he has for the agency.