• 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%
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  • USDJPY=X113.2800-0.5410 -0.4753%
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Home >> News >> Government (page 20)

Wells Fargo Repairs Resolution Plan

Wells Fargo Repairs Resolution Plan

The FDIC and the Federal Reserve Board found that in December 2016, Wells Fargo had not yet remedied two of the three deficiencies the agencies had previously identified. Subsequently, the agencies imposed restrictions on the growth of Wells Fargo’s international and non-bank activities. The revised plan submitted by Wells Fargo in march adequately repaired the two deficiencies. Wells Fargo has remedied the deficiencies and will no longer be subject to the growth restrictions which were imposed.

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What Would a Government Shutdown do to Mortgages?

What Would a Government Shutdown do to Mortgages?

With the federal funding running out on Friday and a potential government shutdown looming, expect to see an impact on the mortgage industry. Access to tax documents and other government paperwork may prove difficult in the event of a shutdown. Furloughs at the IRS and Social Security can cause roadblocks in the application process.

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Critics Take Aim at Latest Trump Orders

Critics Take Aim at Latest Trump Orders

Critics have begun to speak out after President Trump signed two executive orders calling for the review into “too big to fail” and a number of financial oversight entities. Some even fear it could signal another financial crisis is on the horizon. Trump’s orders specifically require a review of the Financial Stability Oversight Council and the Orderly Liquidation Authority.

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Proposal Details Possible GSE Reform Plan

Proposal Details Possible GSE Reform Plan

A key industry organization has released a white paper outlining a GSE reform plan. The paper details how the reform should occur, how to handle the transition, and the secondary market’s role in it all. The organization hopes to work with legislators on creating a bipartisan reform plan.

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Greenspan Supports Dodd-Frank Rollback

Greenspan Supports Dodd-Frank Rollback

Former Fed Chairman Alan Greenspan came out against the Dodd-Frank Act today on CNBC’s “Squawk on the Street” business show. The post-crisis regulations, he said, have caused a “surge in stock prices,” and getting rid of them would “have a very significant positive impact on the economy.” President Trump called for a review of Dodd-Frank back in February.

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How Effective is the CFPB?

How Effective is the CFPB?

With the Consumer Financial Protection Bureau and the Dodd-Frank Act coming under federal scrutiny, Trulia wondered how effective the consumer protections have been in the CFPB’s first half-decade. According to the firm, very. A new report suggests the bureau has been a powerful ally for U.S. mortgage holders in all markets.

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Fannie Mae Keeping Its Outlook Steady

Fannie Mae Keeping Its Outlook Steady

The April Economic and Housing Outlook report from Fannie Mae paints a steady picture of an economy the GSE expects to give no big surprises. The combination of potential political unrest home and abroad and a smoothly growing housing market are keeping the GSE’s predictions on the safe side. Still, housing is a significant bright spot this year.

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CFPB Clarifies Information Collection Requirements

CFPB Clarifies Information Collection Requirements

The increased amount of data which the CFPB has required lenders to report has led increased complications. Several lenders and trade groups have asked for clarification on the definition and reporting requirements for new HMDA reporting categories, such as “loan purpose” the unique identifier for the originator of the loan. In a statement, the CFPB let firms know that they can avoid reporting on those topics if they do not have the information due to loans which were purchased from a third party.

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Refinance Volume Drops as Mortgage Rates Rise

Refinance Volume Drops as Mortgage Rates Rise

Refinances fell in February as mortgage rates rose, according to the Federal Housing Finance Agency’s (FHFA) February 2017 Refinance report. The average interest rate on a 30-year fixed rate mortgage in February 2017 was 4.17 percent, up from January 2017’s 4.15 percent.

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Jeb Hensarling Discusses CFPB Reform and Accountability

Jeb Hensarling Discusses CFPB Reform and Accountability

Financial Services Committee Chairman Jeb Hensarling still finds fault in the CFPB’s structure, and in Cordray’s leadership. According to Hensarling, Cordray “recklessly ignores the due process protections that have been deeply rooted in our American legal system for centuries." Hensarling hopes the Bureau will become the "cop on the beat" its supporters want.

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