The Federal Housing Finance Board is considering changes to its capital proposal that would make it less onerous and difficult for the Federal Home Loan Banks to come into compliance with new retained earnings requirements."Some commentators made valid points [in comment letters]," FHFB Chairman Ronald Rosenfeld told a congressional panel. "There is room for movement on several important issues." Since the 12 FHLBanks are well capitalized, many questioned the need for a 50% dividend payout limit while the FHLBanks raise their retained earnings to meet the proposed minimum requirement of $50 million plus 1% of non-advance assets. "That is a constructive observation, and we should consider a higher dividend payout ratio, which would extend the time for the FHLBanks to reach the retained earnings minimum," Mr. Rosenfeld said. Many members of the House Finance Services Committee urged the FHFB chairman to withdraw the proposed rule, contending that it would harm the FHLBanks and their affordable housing programs. But Mr. Rosenfeld did not give any indication that he would back down.
-
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
5h ago -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
5h ago -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
5h ago -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
7h ago -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
9h ago -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
9h ago