President Donald Trump on Friday announced two executive orders that aim to increase the U.S. housing supply and consumer access to mortgage credit. One of the orders directs various federal agencies — including the U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA) — to work together on reviewing […]
Trump executive orders target housing supply and mortgage credit Read More »
Housing advocates warn that recent changes to a federal rural lending program could sharply limit homeownership opportunities for low-income families in California communities. The California Coalition for Rural Housing said revisions made Feb. 10 to the U.S. Department of Agriculture (USDA)’s Section 502 Direct Loan program reduce the maximum loan amount allowed under the program
USDA rural housing loan changes could limit California buyers Read More »
Fair housing and immigrant advocacy groups are urging a federal court in Texas to reject a proposed settlement between Colony Ridge Development LLC and federal agencies over alleged predatory lending practices. The groups say that key provisions of the agreement are “unlawful, unnecessary and unrelated to the underlying case.” Under the proposed terms, Colony Ridge
Colony Ridge settlement faces court challenge in Texas Read More »
HMDA reporting season has just wrapped as financial institutions were required to submit detailed data from the previous calendar year’s mortgage applications and loans to their regulators by March 2nd. But for compliance professionals at community banks, the work doesn’t stop there. HMDA reporting has become less about “checking the box” and more about defending
How to ensure locked-down compliance during HMDA reporting season, and year-round Read More »
The Campaign for Accountability (CfA), a nonpartisan watchdog group, has filed a lawsuit against the Federal Housing Finance Agency. The group alleges the FHFA failed to comply with a Freedom of Information Act (FOIA) request that sought access to a report prepared by FHFA Director Bill Pulte about Federal Reserve Chair Jerome Powell. CfA submitted
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Eight trade groups representing lenders are urging federal regulators to revise bank capital rules by adopting a more tailored risk weight for mortgages held on balance sheets and by significantly cutting the capital charge applied to mortgage servicing rights (MSRs). In a letter sent Friday to the Federal Reserve, the Federal Deposit Insurance Corp. and the
Trade groups push for lower MSR capital charges, tailored mortgage risk weights Read More »
Federal lawmakers are urging the Department of Justice (DOJ) to take a closer look at the closed $1.6 billion merger deal between Compass and Anywhere Real Estate. The effort is being led by Sen. Elizabeth Warren (D-Mass.) and Rep. Becca Balint (D-Vt.) with 16 other Democrats as co-signers. In a letter sent Thursday night and obtained
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Regulatory changes to how banks treat mortgage assets — anticipated this week by Federal Reserve Vice Chair Michelle Bowman — may have an impact on the mortgage market over time, analysts said. “The near-term impact on the mortgage market is likely to be somewhat limited,” Keefe, Bruyette & Woods (KBW) analysts wrote in a report
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A new report from the Council of Economic Advisers (CEA) estimates that the Consumer Financial Protection Bureau (CFPB) has imposed $237 billion to $369 billion in cumulative costs on U.S. consumers since its creation in 2011, largely through higher borrowing costs. For 2024 alone, the report estimates $24 billion to $38 billion in costs. The
CEA analysis weighs CFPB’s economic impact Read More »
Michelle Bowman, the Federal Reserve‘s vice chair for supervision, used a major industry forum to argue that Basel capital rules have helped to drive mortgage lending and servicing away from banks — and that it’s time to reconsider that approach. Addressing the American Bankers Association (ABA)’s 2026 Conference for Community Bankers on Monday, Bowman described
Basel capital rules may be revised to boost bank mortgage lending Read More »