Capital

Chairman and CEO Jamie Dimon said in a Tuesday statement that "the U.S. economy remained resilient" during the second quarter, adding that the recent tax cuts and potential deregulation are "positive for the economic outlook."

Analysts are predicting stronger results this year after a disappointing outcome in 2024.

The Connecticut bank said its newly minted president, Steven Sugarman, successfully led a private placement and signed a long-term employment agreement that makes him a potential CEO. David Lowery, current chief executive of Patriot, plans to step down in April.

The Stamford, Connecticut-based bank hired Steven Sugarman to be its president. The former bank CEO, who now heads one of the country's largest mission-based lenders, will help drive an effort to close a capital gap.

To honor Stevens, who started in the secondary market where dry mortgage notes are sold to investors, let's delve into why the B3E proposal is badly constructed.

Because the measure of the insurance fund's soundness remained well above its target, trade groups asked whether the cost of coverage could be further reduced.

The impact on things like servicing rights would raise costs even for lenders that aren't banks, according to Mortgage Bankers Association President and CEO Bob Broeksmit. Others disagree.

But at the same time, the publicly traded company is selling off another type of housing finance asset to some large depository institutions.

Consumer advocates are protesting specific risk-weighting changes affecting borrowers with lower down payments. Also, a broader increase in requirements may discourage depository holdings of servicing.

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.

States have the option of adopting the oversight framework issued by the Conference of State Bank Supervisors, which resembles capital and liquidity plan proposed by the Federal Housing Finance Agency.

The bank said the move will give it more flexibility for raising capital.

The proposed best practices would be modeled after federal servicing standards and be used to supervise nonbanks firms subject to state regimes.

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.

Whoever wins the White House in November may have immediate agency openings to fill, while a key decision looms about who will run the Federal Reserve after Jerome Powell’s term expires in 2022.

In the most sweeping capital distribution order since the financial crisis, the Federal Reserve says it will prohibit big banks from buying back their stock in the third quarter and limit dividend payments to second-quarter levels.

As they prepare to exit government conservatorship, Fannie Mae and Freddie Mac have enlisted the investment banks to help them boost capital and evaluate market opportunities.

Many community banks have given up on national mortgage platforms as not worth the effort, but organizers of NXG Bank in Maryland say they have a plan to make one work.

The industry's largest acquisition in more than a decade will create the sixth-biggest bank in the country, with assets of more than $442 billion.

The administration’s reported interest in having the White House aide run Fannie Mae and Freddie Mac's regulator signals a focus on constraining the mortgage giants’ role in the housing market.