Organization Root Tag

Many experts think the Consumer Financial Protection Bureau's funding through the Federal Reserve could be the fatal flaw in the Dodd-Frank Act that created the agency, but differentiating the CFPB's structure from others may be tricky.

The Federal Reserve raised its benchmark interest rate by half a percent this week, but chair Jerome Powell said the question now is how long to keep monetary policy tight.

In a series of tense exchanges, Republicans accused Consumer Financial Protection Bureau Director Rohit Chopra of making rules through press releases.

Average loan amounts also increased, with mean purchase sizes crossing back above the $400,000 mark.

The FHFA should focus on the facts as it ponders the future of the Federal Home Loan Bank System.

The Lansing, Michigan-based firm was awarded the contract this spring and takes over from Novad Management Consulting, which had previously serviced government-held HECMs since 2014.

New data offered the strongest evidence yet that price pressures have peaked.

Nonbanks would have to inform the CFPB of any state or local court decisions against them involving consumer financial products, under a new proposed rule. That information would be pooled with data about federal violations and be made available to the public.

Concrete prices have surged 10.7% in 2022, but the cost of once-volatile softwood lumber has moderated greatly since the summer, according to the National Association of Home Builders.

But that's largely because homes are staying on the market longer — almost three weeks more than in early summer on average.

In a report to Congress, the agency recommended sharing information with the Consumer Financial Protection Bureau, which also is looking more closely at servicemember mortgages.

Shares picked up across all federal categories last week, but overall application volumes fell, dragged down by a cooling conventional purchase market, according to the Mortgage Bankers Association.

Home prices, sales volumes, interest rates are expected to drop next year, researchers at the company forecasted.

The pushback the government insurer faced over the revised standards led it to delay deadline for implementation by a full year, to December 31, 2024

The range in the size of mortgages to be insured by the agency in 2023 runs between $472,030 to $1,089,300, while maximum claims on HECMs will similarly increase.

Wells Fargo cut hundreds more mortgage employees Thursday, the latest in a series of reductions across the industry after higher interest rates brought the pandemic-era home-lending boom to halt.

Dianne Dobbeck, head of the Federal Reserve Bank of New York's supervision group, said the banking system is sound, but potentially destabilizing risks must be monitored and addressed.

Allowing Fannie Mae and Freddie Mac to buy these loans encourages consumers to purchase more expensive homes, the group said.

Activity swung upward for the fourth week in a row, but a steeper drop in refinances led overall volumes down by a fraction from seven days earlier and 66% on an annual basis.

Almost half of the 388 respondents to a new survey said a scenario where growth continues to slow while inflation remains elevated will dominate globally next year.