Politics

Adjustments to area median-income levels will make more residents eligible after the state opened up the Homeowner Assistance Fund to households with pandemic-related partial claims or loan deferrals earlier this year, the program said.

The city won't allow developers to supply new suburban subdivisions with groundwater, prompting a scramble for alternative water sources and a predicted rise in local housing costs.

The Consumer Financial Protection Bureau issued two reports analyzing banking and consumer credit trends in the South, where many rural areas are considered "banking deserts."

Under new terms of its program, the Aloha State will also extend assistance to reverse mortgage holders as well as some borrowers with nondelinquent loans.

The Consumer Financial Protection Bureau decided to move forward with its proposal based on feedback to an earlier request for input.

In a speech, the Federal Reserve Board governor said tighter monetary policy is not to blame for the volatility seen in the banking system this spring.

The largest nonbank servicer did not offer appropriate assistance to more than 80% of borrowers with delinquent government loans after their COVID-19 forbearance ended, HUD's Office of the Inspector General claims.

Though the Federal Reserve's stress test scenarios were announced ahead of the string of bank failures this spring, the results will be a significant peek into the health of the banking system.

Republican members of the House Financial Services Committee blasted Consumer Financial Protection Bureau Director Rohit Chopra as an 'extortionist' and labeled his efforts to rein in discrimination as 'McCarthyism' during a four-hour hearing Wednesday.

The Treasury has added Property Assessed Clean Energy financing for solar panels and the like to the list of approved expenses that states could authorize.

Republican-led bills seeking to reverse adjustments to mortgage fees and a bipartisan bill aiming to reinstate tax deductions on mortgage insurance stand to change operations for lenders if they pass.

Consumer Financial Protection Bureau Director Rohit Chopra faces tough questions next week testifying before the Senate Banking Committee and House Financial Services Committee.

Federal bank regulators issued proposed guidelines for banks and other mortgage lenders to craft policies around reconsideration of value requests. The move is the latest aimed at rooting out bias in home appraisals.

The bill would update mortgage revenue bonds and credit certificates, which are both administered by housing finance agencies.

The GOP has launched multiple proposals with this aim and a trade group is specifically backing an expansive one from Rep. Warren Davidson, R.-Ohio.

Six regulatory agencies are seeking public comment on a proposed rule that would establish best practices for using automated valuation models to assess collateral.

The fact that rates are higher than they were at origination for many distressed borrowers has made it tough to lower payments and this new type of partial claim may help.

The Stroudsburg, Pennsylvania-based financial institution, from 2017 to 2021, did not sufficiently serve the credit needs of majority-Black and Hispanic neighborhoods in and around Philadelphia, the DOJ alleges.

House Republicans will likely need to gain support from Democrats to get the debt limit deal through a critical vote in the House Wednesday evening.

Federal Reserve Board Gov. Philip Jefferson, who has been tapped to serve as vice chair of the central bank, said the new rules will standardize capital requirements and increase transparency.