Organization Root Tag

The mayor and city council of Baltimore, along with a Maryland-based economic justice group, are suing the bureau and its acting director, claiming that the recent decision to "defund" the CFPB will leave it unable to support communities.

But the company took a credit loss provision in the fourth quarter, deciding to add to its reserves because of new mortgage acquisitions to its portfolio.

Federal Reserve Chair Jerome Powell said insurance companies and banks are already pulling out of disaster-prone areas, which could pose problems.

The Federal Reserve is set to refrain from cutting interest rates for "quite a while," following a hotter-than-expected inflation report, according to Mohamed El-Erian. 

The latest refinance surge helped lift total application activity up for a second straight week, even as purchases fell, the Mortgage Bankers Association said.

Joseph Otting, who is leading Flagstar's turnaround, said potential buyers may be interested in acquiring the regional bank once it gets past certain challenges.

Lenders increased offerings in jumbo and non-QM segments as the industry focuses on customers with strong credit, the Mortgage Bankers Association said.

Speaking to reporters from the Oval Office, the president was asked if he wanted to eliminate the bureau. "I would say, yeah," Trump replied. "Because we're trying to get rid of waste, fraud and abuse."

The acting leader is a co-author of the conservative playbook in which a former Fannie Mae and HUD director calls for abolishing the regulator.

McKernan, a member of the Federal Deposit Insurance Corp.'s board of directors, offered measured resistance to Biden-era bank regulation and led on a number of issues including cracking down on the influence of asset managers who hold stakes in FDIC-insured banks.