Economy

The Financial Stability Oversight Council said the mortgage giants may need a bigger capital cushion than their regulator has proposed, but stopped short of designating them as “systemically important financial institutions.”

After an annual gain in July, newly constructed home listings tumbled in August as coronavirus complications caused the largest inventory drops on record, according to Redfin.

Twelve people were charged in a scheme regarding the creation of 100 fraudulent mortgages in Georgia, according to the HUD inspector general.

Home sales in Greater Hartford continued to surge in August with houses selling faster and at higher prices than the same month a year ago.

The Charlotte, N.C., company recently closed on a sale of its Cohen Financial platform to SitusAMC.

But the group is more conservative than Fannie Mae when it comes to interest rate movements over the next six quarters.

The number of pending sales in Sonoma County, Calif., was up 27% from June through August 2020 versus the same period in 2019 and the percentage of properties that went off the market within two weeks was up 8% in the same period in 2020 versus 2019.

The percentage of borrowers who have asked to temporarily suspend payments due to coronavirus-related hardships is down overall, but in the Ginnie Mae market, they're still inching up.

The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.