A proposed rule by the Federal Housing Finance Board would not improve the current regulatory capital framework, and it would make Federal Home Loan Bank membership less attractive, according to Standard & Poor's.The capital proposal to restrict excess stock would "pose a severe limitation" on the FHLBanks' ability to deliver low-cost advances to their members and to provide them with an attractive dividend on their stock, S&P says in a research paper. The Finance Board's proposal would end the practice of paying dividends in the form of excess stock and would mandate a high level of retained earnings. "Should this proposed regulation be adopted as it is currently written, Standard & Poor's will have to monitor any negative impacts to the liquidity profile of the individual banks, core business dynamics, and membership trends," S&P says. The rating agency can be found online at http://www.standardandpoors.com.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
8h ago -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
8h ago -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
9h ago -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
10h ago -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25