The Federal Housing Finance Board has finalized an appointment process for public interest directors that allows the individual Federal Home Loan Banks to nominate one or two candidates for the FHFB's approval.Previously, these independent directors were selected and appointed by the FHFB. But that process came to halt several years ago when the White House stopped all appointments as part of its approach to reforming the regulation of the government-sponsored enterprises. In finalizing the new process, the FHFB dropped a proposed requirement that the FHLBanks submit two candidates for each vacancy. The final rule allows the FHLBanks the option of nominating one candidate, as recommended by the America's Community Bankers and others. FHLBank stakeholders were concerned that some good candidates might refuse to go through the nominating process if they only had a 50% chance of being appointed.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
4h ago -
The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
6h ago -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
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While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
April 23 -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
April 23 -
Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
April 23