• Ocwen2.71+0.04 +1.50%
  • Zillow42.87-0.36 -0.83%
  • Trulia47+0 +0%
  • NationStar17.37-0.19 -1.08%
  • CoreLogic41.81+0.10 +0.24%
  • RE/MAX55.25-0.40 -0.72%
  • Fannie Mae2.81+0.08 +2.93%
  • Freddie Mac2.675+0.055 +2.099%
  • Wells Fargo53.02-0.72 -1.34%
  • CitiMortgage61.07+0.37 +0.61%
  • Bank of America24.00-0.07 -0.29%
  • Lennar50.39-0.60 -1.18%
  • Fidelity National Financial40.39-0.08 -0.20%
  • D.R. Horton33.07-0.18 -0.54%
  • PulteGroup22.75-0.27 -1.17%
  • First American41.66-0.40 -0.95%
  • BKFS39.10+0.20 +0.51%
  • AUDUSD=X0.7384+0.0006 +0.0745%
  • USDJPY=X113.2800-0.5410 -0.4753%
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Home >> News >> Government

Experts Say Fed Minutes Could Signal Hike

Experts Say Fed Minutes Could Signal Hike

The Federal Reserve will release the minutes of its April meeting on Wednesday afternoon, and if industry experts are on track, they could point to another rate hike on the horizon. Regional Federal Reserve Presidents Neel Kashkari, Robert Kaplan and James Bullard have all weighed in on the issue. The Fed previously raised rates from 0.75 points to 1 in March.

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Freddie Mac Portfolio Up 0.5 Percent

Freddie Mac Portfolio Up 0.5 Percent

Freddie Mac’s latest summary report reveals an increase in both its total mortgage portfolio and its mortgage-related securities. Its mortgage portfolio rose 0.5 percent over the year, while its mortgage-related securities and guarantees jumped by 2.1 percent. The government-sponsored enterprise has funded $127 billion mortgages year-to-date.

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How the Budget Proposal Impacts HUD

How the Budget Proposal Impacts HUD

Several HUD programs are slated to be cut according to the recent budget proposal, including the Community Development Block Grant (CDBG) Program. According to HUD, the CDBG Program has not been effectively targeting the poorest communities and has not demonstrated a measurable impact on communities. Other programs are to be cut due as HUD states that State and local governments are better-positioned to serve their communities’ needs in place of these programs.

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Watt & Mnuchin Tackle GSE Reform

Watt & Mnuchin Tackle GSE Reform

On Thursday, both FHFA Director Melvin L. Watt and Treasury Secretary Steven T. Mnuchin separately addressed the current state of the GSEs. Though Mnuchin discussed the priority of housing finance and regulatory reform in front of the Senate, at an industry conference Watt described the many successes of the FHFA in the last nine years. Watt warned that reforms made during conservatorship should not be ignored by congress during the reworking of housing finance reform.

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Supreme Court Protects Collectors of Stale Debt

Supreme Court Protects Collectors of Stale Debt

Debt collectors that knowingly pursue stale debt in bankruptcy proceedings do not run the risk of facing potential consumer protection lawsuits, accoridng to a Supreme Court ruling. The ruling came after the high court voted 5-3 to overturn an Eleventh Circuit decision which had found Midland Funding LLC, a purchaser of unpaid debt, potentially liable under the Fair Debt Collection Practices Act.

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Fostering Diversity and Inclusion in the Industry

Fostering Diversity and Inclusion in the Industry

The second-annual Five Star Diversity Symposium, a day-long event focused on advancing the conversation on diversity within the mortgage industry, featured keynote addresses from diversity leaders as well as roundtable discussions and panels. The Diversity Symposium includes representatives by several key companies and government agencies within the mortgage industry.

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Rumors Swirl Around FHA Nomination

Rumors Swirl Around FHA Nomination

President Donald Trump may be gearing up to nominated Brian Montgomery to head up the FHA. Currently the Vice Chairman of The Collingwood Group, Montgomery previously served as FHA Commissioner under President George W. Bush and President Obama. He also served as Asisstant Secretary for HUD and Deputy Assistant at the White House.

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The Pros and Cons of Trump’s Tax Plan on the Housing Market

The Pros and Cons of Trump’s Tax Plan on the Housing Market

Because of the need to establish this fiscal balance, the road to achieve Trump’s proposals will be long and rocky, and will require the hard work and cooperation of both sides of the aisle. This proposal has also raised many questions about what Trump’s plan would mean for the housing market. Due to the current lack of detail in his proposed outline, it is difficult to accurately predict the impact a tax system overhaul of this magnitude would have on the economy.

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Amendment Extends FOIA Exemptions to GSEs

Amendment Extends FOIA Exemptions to GSEs

The House of Representatives has amended HR 1694, extending the nine exemptions of the Freedom of Information Act to Fannie Mae and Freddie Mac. The amendment was sponsored by Rep. Hank Johnson (D-Georgia). Passed in April, HR 1694 requires the GSEs to adhere to the FOIA, something they've never had to do since entering conservatorship in 2008.

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Criticism and Reaction to FSC Communication Control

Criticism and Reaction to FSC Communication Control

A recently-published letter from Financial Services Committee Chairman Jeb Hensarling (R-Texas), originally sent in April to Treasury Secretary Steven Mnuchin, informed Mnuchin of the Financial Services Committee’s intention to retain control of all communication between the committee and the Treasury. Under the 1967 Freedom of Information Act, Congress is exempt from requests for records and material, and as Hensarling stated, communications between the Financial Services Committee and various branches of government constitute congressional records. The Financial Services Committee’s top Democratic Representative, Maxine Waters (D-California), criticized Hensarling’s letters.

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