Organization Root Tag

Sales of co-ops and condos dropped 3.7% in the third quarter from the previous three months and more than 18% from a year earlier, appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate said in a report Tuesday.

While broader counterparty rules were recently reworked in consultation with the industry, questions persist regarding one subset from the government bond insurer.

Interest rate increases by central banks have compounding effects and could exacerbate weaknesses in the global financial system, Federal Reserve Vice Chair Lael Brainard argued in a speech Friday.

But those looking for news about a possible reduction in the mortgage insurance premium are still waiting.

The new chief executive comes to the government-sponsored enterprise from national nonprofit Enterprise Community Partners and previously held management roles at JPMorgan Chase.

The Federal Housing Finance Agency got an earful from housing experts at a listening session intended to aid a comprehensive review of the financing system.

A federal judge found that the Consumer Financial Protection Bureau overstated the costs and understated the negative impact of exempting 1,700 financial institutions from reporting Home Mortgage Disclosure Act data.

In a policy proposal published Tuesday, Fed staffers called for supervisory changes to accommodate banks with commercial real estate loans still reeling from COVID.

The trade groups, including the American Bankers Association, allege the Consumer Financial Protection Bureau exceeded its authority by claiming discrimination in any financial product violates the federal prohibition on "unfair, deceptive or abusive acts or practices."

Over 1 million single-family and multifamily homes along the coast are at risk of storm surge damage.