Key insight: Insurance company borrowing from the Federal Home Loan banks hit a record $177.8 billion last year, a 10% jump from borrowing levels in 2024, which itself was a 13% increase over 2023. What’s at stake: Insurers are utilizing “spread investing” programs to secure low-cost cash advances from the system and reinvest into higher-yielding […]
Is private credit a new risk for the Federal Home Loan banks? Read More »
A bank is fighting the Federal Reserve Board of Governors to roll out a loan program involving real estate purchases that the lender says it needs to compete with local independent mortgage banks. Processing Content Upstate New York-based Canandaigua National Corp. is contesting the Fed Board’s decision in the 2nd U.S. Circuit Court of Appeals,
Bank fights Fed to offer cash guarantee mortgages 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 »
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 »
Three wildfire-relief bills, including one that would let homeowners pause mortgage payments after a disaster declaration, cleared their respective California committees this month and are headed to formal votes. Processing Content State Assemblymember John Harabedian, D-Pasadena, whose district includes some of the neighborhoods hardest hit by the early-2025 Los Angeles wildfires, led proposals for all
California bills would pause mortgage payments in disasters 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 »
New York City Mayor Zohran Mamdani is ramping up efforts to protect homeowners in creating the city’s first office focused solely on deed theft. Processing Content The Office of Deed Theft Prevention, which will be led by local attorney Peter White, will flag suspicious real estate filings, improve data sharing across agencies and conduct public
First deed theft office opened by NYC Mayor Mamdani Read More »
Government mortgage-backed securities guarantor Ginnie Mae announced that it’s changing how it will be tracking delinquencies in monthly issuer reporting to account for impacts from a rule update. Processing Content To address the uptick in a large number of older loans entering trial payment plans as a result of the Federal Housing Administration’s adjustment to
Ginnie Mae pauses delinquency rules amid FHA waterfall shift Read More »
Key insight: Republicans and Democrats alike touted the ability of credit risk transfers to spread risk around the financial system during a hearing Wednesday, with lawmakers especially supporting the tool’s utility in housing finance and for Fannie Mae and Freddie Mac. Forward look: No specific legislation was under consideration during the hearing, but lawmakers’ discussions
Credit risk transfers earn bipartisan praise Read More »
Maine’s governor signed new legislation last week, applying comprehensive regulations to originations of home equity investment products in classifying them as “residential mortgage loans.” Processing Content Gov. Janet Mills signed the bill into law following early April passage in both chambers of the state’s legislature. In labeling HEIs as “shared appreciation mortgage loans,” bill LD
Maine introduces bill to ‘effectively ban’ HEI contracts Read More »