In a social post on X on Thursday, FHFA Director Bill Pulte said a fired Freddie Mac employee who was arrested in March for threatening to blow up the Freddie Mac building in McLean, Virginia has continued to contact him. It’s Pulte’s first public statement on the incident since the woman’s arrest. Pulte posted: “Recently, […]
Pulte still contacted by woman arrested for bomb threat Read More »
The appraisal industry shed no tears when the Trump administration sought to undo the Property Appraisal and Valuation Equity (PAVE) Interagency Taskforce, the federal effort to investigate racial bias in appraisals implemented by former President Joe Biden. But that doesn’t mean appraisers have seen the end of federal regulation and litigation around appraisals, or the
Trump’s assault on DEI hasn’t ended federal efforts to stop appraisal bias Read More »
During a second straight day of testimony on Capitol Hill, Federal Reserve Chair Jerome Powell said the central bank is reviewing the Basel III rules (also known as the “Basel Endgame”), which would significantly increase bank capital requirements and could impact the mortgage industry, if implemented. Powell’s statement comes as the Fed prepares to vote
Powell: Fed is reviewing Basel III, supplemental leverage ratio rules Read More »
The Consumer Financial Protection Bureau (CFPB) cut short a five-year agreement with Bank of America over the bank’s alleged submissions of false mortgage data. The agreement was supposed to be in place through at least November 2028. In a filing made public Monday, the CFPB said the bank “fulfilled the obligations” of the agreement signed in November 2023,
CFPB cuts short monitoring of BofA mortgage practices Read More »
The Federal Reserve has come under renewed fire from the Trump administration in recent weeks as the president and key housing officials battle with Chair Jerome Powell over the direction of interest rates. On Tuesday, while speaking to members of the House Financial Services Committee, Powell was resolute that the central bank will continue its
Jerome Powell says the Fed isn’t budging on interest rates Read More »
The U.S. House of Representatives unanimously passed the Homebuyers Privacy Protection Act (H.R. 2808) late Monday, bringing a national ban on abusive trigger leads one step closer to reality. The move was widely applauded by mortgage trade groups. The House’s action follows the U.S. Senate’s approval of a similar bill (S. 1467) on June 13.
House passes abusive trigger leads ban Read More »
The Federal Reserve held benchmark rates steady in the range of 4.25% to 4.5% following its two-day meeting on Wednesday, a decision with implications for the mortgage industry. The move, expected by virtually all monetary policy watchers, underscores the challenge facing the Federal Reserve — deciding when it’s appropriate to cut rates. It’s a delicate
Fed holds rates steady amid inflation concerns, resilient job market Read More »
Massachusetts homebuyers will soon be protected from being pressured into waiving home inspections under new regulation. The policy, put forth by the state’s Executive Office of Housing and Livable Communities (EOHLC), prohibits sellers and their agents from requiring or encouraging buyers to waive a home inspection as a condition of purchasing real estate. It also
Massachusetts set to bar home sellers from requiring inspection waivers Read More »
As Trump administration officials press ahead with their efforts to dismantle and defund the Consumer Financial Protection Bureau (CFPB), the Federal Reserve Office of the Inspector General (OIG) is reportedly opening an investigation into moves to fire the vast majority of CFPB and attempted cancellations of associated federal contracts. According to reporting by CNBC, the
Federal Reserve watchdog investigates efforts to dismantle CFPB Read More »
Cara Petersen, who has served as the principal deputy enforcement director at the Consumer Financial Protection Bureau (CFPB) since late 2017, resigned this week with a letter that’s highly critical of the enforcement posture at the bureau under the new administration of President Donald Trump. Petersen’s resignation letter was obtained and initially reported on by
CFPB enforcement head resigns, citing ‘no intention to enforce the law’ Read More »