Policymaking

CFPB Director Richard Cordray abruptly announced Friday that he would leave at the end of the day, giving the reins of the agency to a new deputy director.

The Federal Housing Administration's recent actuarial report has added more fuel to the fire over concerns about reverse mortgages, including their effect on the overall FHA insurance fund and a rise in foreclosures.

The agency's Quarterly Banking Profile said banks earned $47.9 billion in the third quarter, helped by a 7.4% increase in net interest income from the previous year.

Federal Reserve Chair Janet Yellen announced Monday that she intends to step down from the Board of Governors after her successor is sworn in when her term expires early next year, ending any speculation that she may stay on.

The Federal Housing Administration was battered by losses this year from reverse mortgages, casting doubt on whether the agency will adopt an Obama-era proposal to reduce mortgage insurance premiums.

The announcement by the head of the Consumer Financial Protection Bureau ends months of speculation about how long he planned to stay at the agency.

The battle lines are drawn between those seeking to protect the mortgage interest deduction and a legislative effort to greatly reduce its use. Hopefully, this is a battle that taxpayers will win.

Here's a look at the 12 housing markets with the largest percentages of mortgages over $500,000 — the new threshold House Republicans have proposed for the mortgage interest deduction in their tax plan.

Pricey U.S. housing markets, from the New York suburbs to California's coastal cities, could take a direct hit under the tax-reform bill released by House Republicans.

A House Republican tax proposal that infuriated housing groups and sent homebuilder stocks sliding would only have a modest impact on the market for new homes and could end up being a net positive for the industry, according to Keefe, Bruyette & Woods analysts.