The Federal Housing Finance Board is sponsoring a Sept. 27 seminar on ways the Federal Home Loan Banks can increase their support for small businesses in rural and agricultural communities.The Gramm-Leach-Bliley Act of 1999 authorized the FHLBanks to accept small-business and small agricultural loans as collateral for advances. But the FHLBanks have not really adapted to that kind of lending, and they continue to rely mainly on mortgage loans for collateral. "The Finance Board would like the banks to do more of this lending," an FHFB spokesman said. The all-day seminar in Washington will focus on how the FHLBanks "can better utilize this [collateral] authority to meet the community financial institutions' liquidity needs," the seminar announcement says.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
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The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
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The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
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