Politics

The change, which goes into effect April 1, delays when certain banks would have to change their assessment areas until 2026.

The Community Home Lenders of America alleged one provider's employment verification service is charging fees it considers excessive in a letter to federal agencies.

The questions about whether the Home Loan banks receive a public subsidy has been settled. All that remains is for lawmakers to take steps to redirect that subsidy toward public benefits rather than corporate profits.

Federal Reserve Chair Jerome Powell said at the Federal Open Market Committee press conference Wednesday that a slower pace of reduction could help the central bank avoid shrinking its holdings further without disrupting the banking system.

Policy experts say the mix of proposals put forth by the White House could ease the nation's housing shortage, but success will be neither quick nor assured.

A trio of Republican Congressmen stated they will investigate how the program got fast-tracked by the Biden Administration.

The head of the Consumer Financial Protection Bureau summarized his findings from a yearlong probe into the Appraisal Foundation. He says the "lawmaking body" is not accountable to the public or market forces.

Federal Reserve officials have hammered home the importance of bank readiness to borrow from the discount window. Getting banks to actually do so may require the Fed to make structural improvements to the system.

Doma leadership said it has the technology and underwriting capabilities to allow the government-sponsored enterprises to handle the risk refi loans eligible for title waivers under a pilot announced by President Biden last week.

The Congressional Budget Office put an estimate on the net government subsidy provided to the Federal Home Loan Bank System, including the so-called "implied guarantee," on bonds priced and sold to investors.

In an address on Tuesday, economic advisor Lael Brainard also discussed the controversy surrounding the president's proposed title waiver program.

The American Land Title Association, which represents the title insurance industry, argued that the program would not cut costs for those who really needed it.

While some said the agency was ignorant of its own rules, one trade group praised the goals of the posting.

Regardless of the effect housing prices have on ballot decisions, almost two-thirds of respondents indicate that current economic trends left them feeling negative about the economy, Redfin said.

The head of the U.S. Department of Housing and Urban Development under the Biden Administration said she will transition from public life starting March 22.

Regulatory reform – rather than Biden's proposed solutions – is needed to fix the inventory crisis, some say, but others applauded the president's buyer cost-cutting initiatives.

The title proposal is part of a broader housing cost reduction proposal being discussed in the State of the Union speech.

During a contentious exchange on his second day of congressional testimony this week, the Federal Reserve chair drew a line between the central bank's response to last year's bank failures and its current capital proposal.

In congressional testimony, the Federal Reserve chair said the Board of Governors is processing the comments on its capital reform proposal. Putting forth an entirely new proposal is "very plausible."

The letter, which was sent to bank regulators, represents a further escalation of lawmaker criticism of the Basel III endgame proposal, and comes just as Federal Reserve Chairman Jerome Powell is set to testify in the House Financial Services Committee.