Politics

A group of community development financial institutions are asking a federal court in California to compel Treasury to disburse funds from the CDFI Fund before they expire in September.

Treasury Secretary Scott Bessent said in an interview on CNBC Thursday that he and Office of Management and Budget Director Russell Vought have been tasked with developing a fiscal plan to reduce government spending.

The president has initiated a for-cause process to remove the Federal Reserve Board governor from office, something only one president has successfully done before. But that century-old precedent may not offer Trump much useful guidance in his quest.

To manage systemic risks, Congress must give large IMBs a single federal regulator and emergency liquidity backstops, according to NewRez's SVP of Policy.

All but one letter agreed that reputational harm should not be a reason to put an individual or company on the secondary market suspended counterparty list.

Retail sales fell 0.6% in July despite a World Cup bump and the University of Michigan's consumer sentiment index declined to cap off a pivotal week of economic indicators.

The Consumer Financial Protection Bureau said it will stop publishing consumer complaint narratives, citing concern that the information is one-sided.

Nonbank mortgage firm Pennymac said having an in-house system gave it a leg up on implementation, while a vendor also reported progress in its systems testing.

US wholesale inflation decelerated in July by more than estimated, likely giving the Federal Reserve more time to assess price pressures going forward.

United Bank and Five Points Bank, both ranked among the top-performing banks by Capital Performance Group, said they have stayed in the mortgage business because they see it as a way to build strong relationships in the communities they serve.

The White House is considering throwing its weight behind a push to increase a capital gains tax exemption for primary home sales ahead of the midterm election.

The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.

A new bill would increase the capacity of state and local housing finance agencies to issue tax-free municipal housing bonds by exempting them from the PAB cap.

The Mortgage Bankers Association says the three-day post-close period is redundant, but consumer groups called it vital for borrowers and required by law.

The markets mostly believe the jobs report put the damper on a September hike, but some still think the Federal Open Market Committee is likely to raise first.

President Donald Trump's administration has reportedly sent a letter to Federal Reserve Gov. Lisa Cook detailing his reasons for finding cause to remove her from office after the Supreme Court ruled in her favor earlier this summer.

Fannie Mae and Freddie Mac's oversight chief said that he's displeased with a report that these builders have retreated from serving first-time buyers.

The bill, which is meant to free up housing supply locked in by high mortgage rates, does not include assumable mortgages which stick with the property.

Sen. Elizabeth Warren and other senators sent a letter to six insurers challenging their use credit-based insurance scores to determine risk-based pricing.

Mortgage servicers would like to shed responsibility for second liens but they may be exchanging one set of workflows for others.