The Federal Reserve has agreed to extend to depository institutions at least $40 billion in increments against mortgages or other collateral in an effort to counteract the global credit crunch.The Fed will provide the liquidity through two auctions of $20 billion each in December and plans to hold two more in January for amounts to be determined. The Bank of Canada, the Bank of England, the European Central Bank, and the Swiss National Bank also took steps Dec. 12 to try to restore liquidity to the market.
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The number of homes purchased by foreign buyers increased for the first time in 8 years, with many making all-cash purchases of vacation and rental homes.
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Prosecutors said the defendant will pay back $13,784 in restitution for federal housing assistance he fraudulently obtained between 2019 to 2020.
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Most indicators cited by Morningstar DBRS are favorable to a good securitization market the rest of the year, but inflation is one of several challenges.
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While Sunbelt markets were more likely to see softening property values, the Northeast saw growth continue, according to Intercontinental Exchange.
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Mortgage professionals are more often subject to non-compete and non-solicitation agreements and aren't likely to be impacted by the new Sunshine State law.
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New limits for forward commitments add to indications the secondary mortgage market is watching builder partnerships with home lenders closely.
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