Key takeaway: As Federal Reserve Chair Jerome Powell’s term nears its end, stakeholders expect his role as a governor to be low-key and to continue until the release of an inspector general report clears him of any wrongdoing. Expert quote: “Powell was pretty clear, he’s not going to be a shadow chair. He knows what […]
Powell is staying at the Fed: What to expect Read More »
Key insight: The judge said the original complaint sought actual damages for Hispanic buyers steered into high-cost loans to buy undeveloped, flood-prone land. What’s at stake: The settlement provided no compensation to the buyers allegedly harmed and instead allocated $48 million for infrastructure and $20 million for law enforcement. Expert quote: “The court finds it
Judge blasts Colony Ridge settlement, declines oversight Read More »
Key insight: Federal Reserve Chair Jerome Powell said that he would remain at the Fed board after his term as chair expires next month in order to ensure that the central bank can continue to conduct monetary policy independently. Expert quote: “I worry that these attacks are battering the institution and putting at risk the
Powell plays his last card as Fed chair Read More »
The Department of Housing and Urban Development and Department of Agriculture are rescinding a Biden administration-era policy that they say added up to $31,000 to the cost of new homes. Processing Content President Joe Biden issued a final rule in 2024 that required newly constructed homes to abide by the 2021 International Energy Conservation Code,
HUD, USDA kill energy rule builders called a barrier Read More »
Key insight: Sen. Thom Tillis, R-N.C., officially dropped his opposition to Warsh’s nomination with an aye vote, despite ongoing parts of the DOJ investigation against current Fed Chairman Jerome Powell. What’s at stake: Fed independence has been the theme of Warsh’s nomination, with outstanding questions about Warsh’s willingness to lower rates at President Donald Trump’s
Warsh clears Senate Banking Committee Read More »
A familiar scene for many independent mortgage banks: an exam turns up issues, you coordinate with state regulators or the Multistate Mortgage Committee (MMC), and what starts as remediation becomes chaotic, especially in multistate reviews, where some states may proceed independently. Suddenly you are managing dozens of parallel negotiations, and the discussion shifts from fixes
State exams are becoming a revenue exercise Read More »
Key takeaway: The FOMC meets April 28-29 against a backdrop of elevated geopolitical uncertainty stemming from the Iran war, which has contributed to higher energy prices and renewed inflation concerns. The meeting also comes during a leadership transition at the Federal Reserve, with a new chair expected to take over in the coming months. Expert
Interest rates are the most certain thing about FOMC meeting Read More »
Long-term conditions in the U.S. housing market have made one thing clear to dv01 researchers: housing will never be affordable again. Processing Content This is the title of a report authored by Vadim Verkhoglyad, vice president and head of market intelligence and research at dv01, which is part of Fitch. The gap is substantial. The
Housing affordability ‘will never’ return, dv01 warns Read More »
The U.S. Department of Housing and Urban Development sent a letter to real estate professionals to assure them they are not violating the Fair Housing Act when sharing information with potential homebuyers about neighborhood crime rates and school quality. Processing Content Assistant Secretary for Fair Housing and Equal Opportunity Craig Trainor explained in the letter
HUD says sharing crime, school data doesn’t violate Fair Housing Act Read More »
Key insight: Tillis’ acquiescence opens the door for a party-line confirmation of Warsh from the Senate Banking Committee on Wednesday. What’s at stake: Warsh will have considerable power over the Fed’s rate setting committee as chair of the Federal Reserve Board. Forward look: Warsh’s path to confirmation has now been cleared of its only significant
Tillis drops Warsh objections after DOJ exits Powell case Read More »