Housing

Ben Carson accepted Donald Trump's offer to lead the U.S. Department of Housing and Urban Development, according to a statement from the president-elect's transition office Monday.

NAHREP Consulting Services, a consulting firm that specializes in housing and the Latino market, has created a new program to help lenders looking to ramp up their market efforts in diverse communities.

The mortgage interest deduction will be limited in reforms designed to provide tax cuts for middle-class borrowers, but not those with higher incomes, according to Treasury Secretary-designate Steve Mnuchin.

The debate over housing finance reform appears to have new life as both Democrats and the next administration appear ready to take up the issue.

Treasury Secretary-designate Steven Mnuchin's plan to remove Fannie Mae and Freddie Mac from government control could mean increased competition for lenders' loans. But it could also prompt a rise in mortgage rates.

Even before taking office, Treasury Secretary-designate Steven Mnuchin has said he wants to return Fannie Mae and Freddie Mac to the private sector, a radically different vision of housing finance reform than that pushed by other Republicans.

President-elect Donald Trump has named Quicken Loans Executive Vice President Shawn Krause to the team that will direct the transition at the Department of Housing and Urban Development.

While President-elect Donald Trump already faces numerous potential conflicts-of-interest between his businesses and the presidency, his real estate ties and campaign promises raise serious questions about his approach to the housing industry.

John Allison, a contender for President-elect Donald Trump's Treasury secretary, is a staunch opponent of the Federal Reserve Board, the Basel international accords, the government's support of the housing finance industry and the Dodd-Frank Act of 2010.

The Pennsylvania company has redoubled its outreach to low- and moderate-income consumers by partnering with Operation Hope on a down payment assistance program and naming a veteran banker to the newly created post of director of fair and responsible banking. But despite these efforts, history says Fulton is unlikely to escape punishment if the Justice Department finds that it violated fair-lending laws.

The Federal Housing Finance Agency's choice to raise conforming loan limits in 2016 for the first time in a decade is being met with enthusiasm from the mortgage industry, as it should prove to be a positive for future origination volume.

The maximum baseline conforming loan limit in 2017 is being increased to $424,100 by the Federal Housing Finance Agency.

Former BB&T Chief Executive John Allison is a late entrant on a short-list for the job of U.S. Treasury secretary, according to two people familiar with President-elect Donald Trump's selection process.

President-elect Donald Trump said in a tweet Tuesday that he is considering Dr. Ben Carson — one of his opponents in the Republican primary — to head the Department of Housing and Urban Development.

If President-elect Donald Trump selects House Financial Services Committee Chairman Jeb Hensarling as his Treasury secretary, it would be a clear sign that he intends to embrace a more traditional Republican agenda when it comes to financial services issues.

The U.S. economy is expected to continue growing modestly in 2017, but the unknown about policies to be enacted by President-elect Donald Trump's administration pose both upside and downside risks, according to Fannie Mae.

John Paulson went long on Donald Trump when much of Wall Street went short. Now, he's reaping the rewards.

Fifth Third Bancorp in Cincinnati has expanded its community development pledge to $30 billion.

Banks already have a difficult time collecting data on mortgage lending to minorities. New data requirements scheduled to take effect in early 2018 could lead to even more mistakes — and financial penalties — not to mention higher compliance costs and longer delays in closing loans.

Two consumer advocacy groups in California have accused CIT Group's OneWest Bank of failing to provide mortgages and other financial services in minority neighborhoods.