A final recommendation to cap the mortgage interest deduction at $300,000 was headed to the White House and Treasury Department on Tuesday with the home finance and real estate industries in stiff opposition.Trade organizations and their lobbyists are girding for battle, even though many believe the recommendation will likely not be adopted. (The proposal is part of a larger effort by the executive branch to simplify the U.S. tax code.) On Tuesday afternoon the National Association of Mortgage Brokers joined Reps. Robert Wexler, D-Fla., and Katherine Harris, R-Fla., at a news conference after the two elected officials introduced a resolution calling for protection of the current mortgage interest tax deduction of $1 million. Edward Yingling, president of the American Bankers Association, said lowering the deduction ceiling "would have negative implications for the value of investments people have made in their homes."
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
9m ago -
In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
7h ago -
Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 -
The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
March 27 -
Equity is entitled to a little over $70,000 worth of damages.
March 27