Organization Root Tag

Infrastructure will command most of lawmakers’ attention, but expect banks to keep pushing for bills that would ease the transition away from a key benchmark rate and help them serve legal cannabis businesses.

The Federal Reserve told a judge not to scrap Libor as requested by consumers in a lawsuit because it would pose a risk to financial stability and undermine years of global planning for a transition to a new benchmark for borrowing rates.

Financial institutions will have until early October to weigh in about new risk-based capital requirements for nonbanks.

This year's assessment for Fannie Mae and Freddie Mac is the first to take into account a January agreement between the Federal Housing Finance Agency and the Treasury Department that allowed the companies to retain more earnings.

The guarantor of mortgage-backed securities has been without a Senate-confirmed president for four and a half years. The vacancy makes it difficult for other government agencies to coordinate housing objectives, according to stakeholders.

The agency developed measures taking effect Aug. 31 that, among other things, will allow lenders to prioritize foreclosures of the most impaired loans and then focus on modifying salvageable ones.

In assuming that credit unions have the same risk profile as nonbank lenders, the mortgage insurer is now threatening to exclude nearly a quarter of them from being qualified issuers of the securities it backs, writes the Senior Director Of Advocacy and Counsel at the Credit Union National Association.

The acquisition of Florida-based Service Finance Co. would expand the North Carolina bank’s presence in the point-of-sale lending business.

Tight inventory and heightened competition kept prime purchasers at bay as property values continued their summer surge, according to Fannie Mae.

As people more heavily use exchanges and other providers of digital-asset-related services, they're registering more beefs with the Consumer Financial Protection Bureau, too. Experts say it's only a matter of time before the agency invokes its broad authority to police the sector.

The company's expanded portfolio through its acquisition spree drove revenue, representatives said.

The last-minute creation of the new federal holiday raised questions for lenders who must adhere to certain timelines regulated by the Consumer Financial Protection Bureau.

Republicans on the Senate Banking Committee objected to Biden administration picks for key jobs at the Department of Housing and Urban Development based on their past criticism of police practices. The nominees, including the prospective Federal Housing Administration chief, said their statements were taken out of context.

The delta variant added uncertainty to markets, leaving investors cautious about moves that would lead to upward movement.

Despite declining rates, refinancing volume fell, while purchases slowed even further after dipping to its lowest point in over a year.

While the hot market’s actual and forecast home price gains were key drivers of Fannie’s results, they also present a challenge to the affordable housing mission that it’s working to address.

This is the third major executive hire at the company amid an industry-wide push to attract more minorities to its ranks.

The industry had tightened up last year in the face of COVID-19. But as the economic outlook improves, banks are now easing criteria amid heightened competition, according to the Federal Reserve’s survey of loan officers.

In late July, the Justice Department notified the Houston bank of a potential lawsuit alleging violations between 2013 and 2017, according to a securities filing. Cadence said that its prospective merger partner, BancorpSouth, supports the settlement discussions.

The timing of major upcoming shifts in Treasury supply and demand will be crucial in determining if the recent downward trend in yields continues or finally reverses.