Organization Root Tag

Younger home buyers accounted for more than half of Veterans Affairs purchase mortgages, with Virginia Beach and Washington seeing the greatest number of applications.

There is no room to unfairly criticize the determination of the Consumer Financial Protection Bureau to properly fulfill its regulatory roll in mortgage servicing, writes the founder of the Maine Attorney Saving Homes program.

Founded in the wake of the global financial crisis, KBRA has issued more than 51,000 ratings representing almost $3 trillion in rated issuance since 2010.

The Consumer Financial Protection Bureau seems to have been turned loose by Chopra in a redux of the bad old days under former director Richard Cordray, when the agency inflicted punishment on the mortgage industry often without any basis in fact, writes Whalen.

The guessing game is over about President Biden’s pick for Federal Reserve chair, but several names are in the mix for three additional vacancies on the board, including vice chair for supervision.

Zillow Group Inc. jumped in late trading Thursday after the company said it plans to repurchase shares as it makes progress winding down its ill-fated home-flipping business.

Chryssa Halley, who has been with the company since 2006, was named CFO and Jim Holmberg was named controller.

He also told the Senate that he wanted to retire the word “transitory” to describe price increases, and he said inflation pressures will “linger well into next year.”

The White House is considering nominating Richard Cordray, who led the Consumer Financial Protection Bureau from 2013 to 2017, as the Federal Reserve's next vice chairman of supervision, according to a report in The Wall Street Journal.

Federal Reserve officials at their last meeting stressed the need for flexibility on how quickly they will scale back their bond-buying program as well as the timing of interest-rate increases, before data showed inflation accelerating.

The Federal Housing Finance Agency should consider allowing small depositories — those defined by regulators to be below $10 billion in total assets — to again make use of structured transactions for seasoned, performing loans, writes the chairman of Whalen Global Advisors.

In order to complete the monthly cycle of two-, five- and seven-year notes before Thursday’s holiday, the Treasury Department is cramming them into Monday and Tuesday, which hasn’t gone well in the past.

Two progressive Democratic senators said they oppose the renomination of Federal Reserve Chair Jerome Powell to a second term, joining Elizabeth Warren in urging President Biden to choose someone else.

Monday’s release of FHA’s annual financial report has renewed calls to end its Life of Loan policy and cut annual premiums back down to pre-crisis levels, the executive director of the Community Home Lenders Association writes.

In a letter to the agency’s new director, top Senate Democrats recommended policy steps intended to limit mistakes in consumers’ credit files that they said “can ruin lives.”

The decision raised major questions about what’s next for a company that was pushing deeper into the U.S. housing market as part of its bid to transform itself from an online listings giant into a buyer and seller of thousands of homes a month.

A report by the agency found that consumers in majority Black neighborhoods were more than twice as likely as those in white neighborhoods to lodge complaints with the credit bureaus over information in their files. Meanwhile, disputes were less common among older borrowers.

The business hit a major snag in recent months as the company’s algorithms caused it to overpay for houses just as the heated U.S. market began to cool slightly, forcing it to list properties at a loss.

A majority of the 49 economists in the survey predicted the U.S. central bank will begin the taper in November and wrap it up by mid-2022, curbing the current $120 billion monthly buying pace by reducing Treasuries by $10 billion a month and mortgage-backed securities by $5 billion.

The agency said the risk management program for Cenlar FSB, which performs servicing functions for financial institution clients, was inadequate for the bank's size.