Treasury officials are starting direct talks with Fannie Mae, Freddie Mac, and the Federal Home Loan Banks regarding the Treasury Department's process for approving the issuance of debt by the three government-sponsored enterprises.Senior level meetings are scheduled for the weeks of July 10 and July 17 with executives of Fannie, Freddie, and the Office of Finance, which issues consolidated debt obligations for the 12 FHLBanks. The meetings were first reported by the Wall Street Journal. Treasury Under Secretary Randal Quarles served notice four weeks ago that the automatic approval of GSE debt issuance is under review in light of the accounting scandals at Fannie Mae and Freddie Mac and problems with their accounting systems, risk management, and internal controls. Fannie and Freddie issue corporate debt mainly to finance their giant mortgage portfolios, which have $1.45 trillion in assets combined. The Bush administration supports legislation to reduce those portfolios. Limiting their debt issuance could effectively reduce or cap the portfolios. The FHLBanks issue debt mainly to finance loans to their member banks and thrifts.
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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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