Late Wednesday Bank of America invested $2 billion in Countrywide Financial Corp., the nation's largest home lender, a possible sign that the mortgage liquidity crisis could be ebbing somewhat -- but only for conventional lenders. (
There's broad support for the effort to reduce costs and processes, but the Appraisal Institute warns about reducing property valuation quality control checks.
Foundation had introduced Version 3 of its credit risk model, using the most recent delinquency data, to improve loan performance predictions.
Fannie Mae's conservator is supporting the government-sponsored enterprise's test within certain boundaries, according to a recent social media post.
The Senate Banking Committee is slated to consider Christopher Phelen to be the chair of the Council of Economic Advisers on Thursday. Phelen has said in past academic papers that fractional reserve banking is "highly problematic."
The bureau said the move is intended to remove potentially confusing language with an upcoming revision to the Equal Credit Opportunity Act.
