Organization Root Tag

Treasury dealers and investors are busy trying to predict exactly when the Federal Reserve might pull the trigger on cutting the size of its balance sheet and how big that drawdown could be when it does.

The mortgage industry has long sought a reduction, which could make homes more affordable to entry-level buyers with limited incomes, but such a measure also would limit the agency’s claims-paying resources.

All major averages have risen to start 2022, with the 15-year surpassing the ARM.

The Federal Reserve Board would become far more diverse if Sarah Bloom Raskin, Philip Jefferson and Lisa Cook are confirmed by the Senate. Jefferson and Cook are respected economists seen as likely to get the nod, but Republicans will challenge Raskin's assertions that bank regulators can play a vital role in combating climate change.

Average prices were up 15% compared to the same month in 2020.

Despite that year-over-year decline, the company beat analysts' expectations with fourth-quarter net income of $5.8 billion. Stronger commercial lending and lower expenses cushioned the blow in consumer credit.

The company's fourth-quarter trading revenue declined notably more than analysts had expected, while its business and consumer lending each dropped 1% year over year.

In a Senate confirmation hearing, the acting Federal Housing Finance Agency director echoed her predecessor’s view that restructuring of Fannie Mae and Freddie Mac should fall to Congress, and pointed to measures aimed at mitigating risk for the agencies.

The company reached an agreement with 39 states to pay $1.85 billion to resolve claims that it had used predatory lending practices.

Chief Operating and Growth Officer Pat Dodd becomes interim president and CEO following Frank Martell’s move to non-executive chairman of the company’s board.