Treasury Secretary Scott Bessent said he would present President Donald Trump with a list of candidates to serve as the next chair of the Federal Reserve in December. “Likely sometime after Thanksgiving, in December, we’ll present the president with three or four candidates for him to interview,” Bessent told CNBC on Wednesday. Bessent said he’s […]
Bessent says he’ll give Trump Fed Chair options in December Read More »
A government-sponsored enterprise oversight agency floated a new strategic plan on Wednesday that includes an emphasis on the supply side of the housing market in one portion of three overarching goals. US Federal Housing will be collecting comments through Nov. 5 on the new plan for its operations, two GSEs it oversees that are in
FHFA seeks comment on new strategic plan for GSEs Read More »
Adobe Stock The Trump Administration’s threat to layoff federal workers if the government shutdown continued came to fruition Friday, including some housing cuts. Employees from seven departments were laid off, 442 from HUD, according to a court filing Atlanta News First obtained. In total, 4,200 employees received notices, a little over 10% of which came
HUD to lay off 400 employees amid government shutdown Read More »
Key Insight: Bank of America’s revised-up guidance for net interest income comes partly thanks to an improving macroeconomic environment. Supporting Data: BofA’s NII guidance for the fourth quarter is now $15.6 billion to $15.7 billion, up from $15.5 billion to $15.7 billion. Expert Quote: “As we’ve seen more certainty now around trade and tariffs …
Bank of America dials up outlook slightly after solid Q3 Read More »
Loandepot is raising serious accusations against West Capital Lending, accusing the brokerage of raiding its workforce, stealing its leads and skirting labor laws in California. The Irvine, California-based giant sued its city neighbor last week in state court, seeking unspecified damages for bad behavior allegedly involving hundreds of loan officers. The complaint stems from Loandepot’s
Loandepot accuses West Capital Lending of rampant fraud Read More »
Figure Technology Solutions has introduced a new platform for debt-service coverage ratio originations aimed to support growth of nonqualified mortgages as well as the company’s own blockchain-based marketplace. The fintech’s lending platform aims to provide quicker access to capital for real estate investors, utilizing artificial intelligence and blockchain technologies to streamline underwriting and funding for
Figure unveils new DSCR lending platform Read More »
Bloomberg News Key insight: Fed Governor Stephan Miran, one of the chief architects of President Donald Trump’s trade policies, said China’s move last week to limit rare earth exports, changed his “sanguine” outlook on economic growth. Expert quote: “It’s about where the balance of risks has moved and risks exist now that didn’t exist a
Miran: China trade war further bolsters rate cuts Read More »
After a couple of years where the housing market felt stuck in neutral, 2026 may be the year things shift back into gear. Expert forecasts show more people are expected to move – and that could open the door for you to do the same. More Homes Will Sell With all of the affordability challenges
2026 Housing Market Outlook Read More »
The financial-technology firm Plaid Inc. is launching a credit-score service to provide banks and fintechs more detailed and timely information on consumers’ financial health. Plaid — whose services connect banks and fintechs — is launching LendScore, a rating that will range from 1-99 with a particular focus on helping lenders serving subprime and near-prime consumers,
Financial data network Plaid launches a consumer credit score Read More »
Key insight: PNC hit or beat expectations across the board for its third quarter financial results. What’s at stake: After years of mild dealmaking and loan growth, banks are starting to reap the benefits of more certainty and a frothier market. Forward look: While PNC logged record revenue for the third quarter, its fourth-quarter outlook
PNC logs record revenue on fee income, loan growth Read More »