Tax

But the home mortgage deduction for existing mortgages would be preserved, according to a two-page outline of the House GOP tax reform bill. Meanwhile, homebuilder stocks initially plunged.

Some housing groups are warming to an idea that they say could help more Americans benefit from housing-related subsidies than the mortgage interest deduction.

A group backed by billionaire industrialists Charles and David Koch unveiled a television and digital campaign that argues "corporate welfare" threatens Republican efforts to dramatically alter the U.S. tax code.

Although property tax loans raise concerns for the mortgage industry, there is a way for property tax lenders and mortgage companies to co-exist.

The National Association of Home Builders is backing off long-held support for the mortgage interest deduction in hopes that the Trump administration can deliver on its promise of lower taxes.

Some in the housing industry expressed concern that the plan would double the standard deduction to $24,000 for married couples and $12,000 for individuals—a move that could dramatically lessen the impact of the mortgage interest write-off.

The need to raise the U.S. debt limit, pass a budget, provide relief for victims of Hurricane Harvey and enact flood insurance and tax reform will dominate the remaining legislative calendar this fall.

The National Association of Federally-Insured Credit Unions defended the credit union tax exemption and called for other financial reforms during a meeting Tuesday with Treasury Secretary Steven Mnuchin.

The Republican push to lower the corporate tax rate is already having an impact on banks and other investors in low-income housing tax credits.

The prospect of a lower corporate rate resulting from looming tax reform discussions may be a blessing for the industry, but it could be bittersweet for one particular group of bankers.

U.S. Treasury Secretary Steven Mnuchin has taken pains to stress that the Trump administration isn't out to kill Americans' beloved mortgage-interest tax deduction — but a side effect of the plan could turn it into a perk for only the wealthy.

Floridians will see smaller tax cuts this year than earlier plans envisioned, but voters will have a chance to give some homeowners a property tax break by increasing the homestead exemption.

Administration and leaders in Congress support some common principles that could help banks.

Bankers hope that new tax policy will respect the role of tax-assisted community development programs in encouraging business investment in distressed areas.