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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The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
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The agreements at the heart of the hearing did not cover the one reached with the National Association of Realtors or those people that only bought homes.
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Feds say Chicago businessman Mark Steven Diamond defrauded at least 80 victims and caused at least $6 million in losses.
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Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.
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The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.
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The home purchase market right now is healthier than it was last year, said CEO Mat Ishbia, noting a 24% increase in volume over the recent period compared to Q1 2023.
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