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 head of the Consumer Financial Protection Bureau summarized his findings from a yearlong probe into the Appraisal Foundation. He says the "lawmaking body" is not accountable to the public or market forces.
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The top five depositories have a combined wholesale volume of more than $15 billion at the end of Q4 2023.
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Among opportunities to be offered to the program's fifth class of startup entrepreneurs are bank-provided mentorships and sessions with technology leaders and regulatory experts within home finance.
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Financial advisors and tax experts say HOA fees are usually not deductible, unless the home is used for a business or as a rental property.
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The broker argues it did not break any agreement because it never signed an amendment to UWM's ultimatum in 2022.
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The racial gap in first-time buyers' ability to maintain their status as owners has also narrowed over the last two decades, the agency's researchers reported.
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