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Politics and policy

What Ginnie Mae’s newest executive is planning for mortgages

Ginnie Mae, Mortgage technology, Politics and policy, Secondary markets /

Ginnie Mae’s operations chief told the industry Monday he is pursuing data improvements and revisiting several industry suggestions for innovations that could improve operations. When asked about concepts the Mortgage Bankers Association has recommended exploring such as creating a securitization vehicle for early buyout loans, Chief Operating Officer Joseph Gormley said Ginnie is “taking a […]

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Fed exploring Home Loan bank collateral interoperability

Fed exploring Home Loan bank collateral interoperability

Federal Reserve, FHLB, Politics and policy /

Al Drago/Bloomberg Banks could soon be able to position assets as collateral to both the Federal Reserve’s discount window and the Federal Home Loan Bank System.  Fed Vice Chair Philip Jefferson, speaking Monday morning at the Federal Reserve Bank of Atlanta’s annual Financial Markets Conference, said closer collaboration between the two emergency lending programs was

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Appeals court hears CFPB argument for 90% reduction in force

Appeals court hears CFPB argument for 90% reduction in force

Litigation, Politics and policy, Regulation and compliance, Trump administration /

John Heltman A panel of appellate judges will decide whether the Trump administration can fire 90% of the Consumer Financial Protection Bureau’s staff through a reduction-in-force without impacting the agency’s legally-mandated work. On Friday afternoon, a three-judge panel of the U.S. Court of Appeals for the District of Columbia heard oral arguments on whether a

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CFPB proposes end to pandemic servicing requirement

CFPB News & Analysis, Distressed, Politics and policy, Servicing /

The Consumer Financial Protection Bureau published a proposed rule in the Federal Register on Friday that could scale back some procedures added for mortgaged homeowners with hardships due to COVID-19. The temporary requirements added during the pandemic have largely sunset, and one aspect that has not is on track to be addressed by a planned

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Powell: Fed policy review honing in on communication

Powell: Fed policy review honing in on communication

Federal Reserve, Monetary policy, Politics and policy /

Federal Reserve Board Communication practices have taken center stage in the Federal Reserve’s review of its monetary policy framework.  In a Thursday morning speech, Fed Chair Jerome Powell said communication practices — particularly during times of heightened uncertainty — have been focal points during both internal and external discussions in recent months related to the

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Deregulation is the new norm at the CFPB, and banks love it

CFPB News & Analysis, Politics and policy, Regulation and compliance /

Enjoy complimentary access to top ideas and insights — selected by our editors. The Consumer Financial Protection Bureau’s headquarters located in Washington D.C.Frank Gargano The Consumer Financial Protection Bureau has been in a freefall since former Director Rohit Chopra was ousted in February, kickstarting a game of musical chairs at the top of the agency

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Fed vice chair focused on ‘hard data’ amid uncertainty

Fed vice chair focused on ‘hard data’ amid uncertainty

Economy, Inflation, Politics and policy, Tariffs /

Federal Reserve Vice Chair Philip Jefferson.Bloomberg News The Federal Reserve’s second-in-command is looking for solid evidence of the impact of tariffs before throwing his support behind changing interest rates. In a Wednesday morning speech, Fed Vice Chair Philip Jefferson said the central bank’s current monetary policy stance gives it the flexibility needed to respond to

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Mortgage bankers ask OMB to end or revise several rules

Homebuilders, Originations, Politics and policy, Regulation and compliance, Servicing /

The Mortgage Bankers Association has responded to the Office of Management and Budget’s request for information on “unnecessary, unlawful, unduly burdensome and unsound rules” with several origination and servicing policy suggestions. There already has been pullback from some of the policies the association is calling for the Office of Management and Budget to rescind, with

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CPI inflation continues to trend down despite tariff rollout

CPI inflation continues to trend down despite tariff rollout

Economy, Inflation, Monetary policy, Politics and policy /

Bloomberg News Prices continued to trend down toward the Federal Reserve’s 2% target last month despite the rollout of sweeping tariff hikes. The Consumer Price Index rose 0.2% in April for an annualized increase of 2.3%. Core CPI, which factors out food and energy, was up 0.2% on the month and 2.8% year over year.

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U.S.-China tariff truce gives banks hope amid uncertainty

U.S.-China tariff truce gives banks hope amid uncertainty

Ag lending, Economy, Politics and policy, Tariffs /

Bloomberg News The U.S. and China have agreed to pause the bulk of their tariff policies against one another for 90 days, sending a jolt of optimism through the banking sector and its investors. The temporary truce was struck over the weekend and announced on Monday, causing stocks to rally and credit spreads to tighten

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