Politics

This week, Federal Reserve Gov. Michelle Bowman cast the first dissenting vote at an FOMC meeting in years. On Friday, she explained why the economic data she's seen didn't convince her of the need to cut rates as much as her fellow governors thought.

A Senate budget bill includes language regulating the use of mortgage trigger leads, legislation that much of the industry supports.

Biden cast the Fed's decision to lower rates as a vindication of his stewardship of the nation's post-pandemic economic recovery and a sign of progress in the fight against high inflation that has been one of his — and Harris' — biggest political liabilities.

Agencies must now provide clearer justifications for their interpretations, while Congress needs to draft more precise legislation. The decision could empower banks to challenge agency rules more frequently and potentially prolong regulatory processes, with courts giving less deference to agency interpretations.

The Federal Reserve chair said he supports the revised proposal outlined by Vice Chair for Supervision Michael Barr and said the new proposal would get a vote by the full Board of Governors early next year.

Short-term rate cuts often don't immediately translate to lower financing costs for 30-year home loans, and there are some unique circumstances this time.

The move signals the end of the Federal Reserve's battle against runaway inflation in the wake of the COVID-19 pandemic. Fed officials expressed divergent views on further action this year.

Changes to the Manufactured Home Construction and Safety Standards include allowing the building of two-to-four family units on a permanent basis.

Sen. Tim Scott's housing bill calls for Congress to play more of a role in reviewing public intervention in housing while reforming or expanding certain programs.

Federal Reserve Vice Chair for Supervision Michael Barr conceded major points to the industry on last year's capital reform proposal. But how regulators will approach other reforms in light of that experience is uncertain.

A former housing regulator confirmed that he anticipates a release from conservatorship would occur if Trump's elected, adding to other signs a plan is brewing.

There's support for Reg X modernization, but both consumer and mortgage groups are concerned about language mandates, and the industry opposes fee restrictions.

While the shelter-related increase won't deter the Fed from cutting interest rates, it reduces the chance of an outsize reduction.

Vice President Kamala Harris sought to outline proposals on housing and a child tax credit, while former President Donald Trump highlighted an aggressive tariff plan.

Federal Reserve Vice Chair Michael Barr's planned revision of the capital proposal addresses a key concern the housing finance industry has.

Federal Reserve Vice Chair for Supervision Michael Barr outlined the changes he and other regulators would like to see to the capital reform plan, including largely excluding banks with less than $250 billion of assets.

Consumer Financial Protection Bureau Director Rohit Chopra will be looking at whether automation accommodates or undermines potential savings from refinancing.

Federal Reserve Bank of New York President John Williams said he's seen enough data to be comfortable with a rate cut at the Federal Open Market Committee meeting later this month.

The lender is asking U.S.Tax Court to find IRS adjustments in error and clear the company of any liability or penalties.

The Republican presidential nominee laid out his economic platform during a speech at the Economic Club of New York.