Federal Reserve: Regulation C Repealed and Public Comment Sought on Proposed Revisions to Regulation M
The Federal Reserve Board on Monday announced the repeal of one regulation and the revision of a second to reflect the transfer of certain consumer protection rulewriting authority to the Consumer Financial Protection Bureau (CFPB). The Board is publishing a final rule to repeal Regulation C (Home Mortgage Disclosure), which has been superseded by final…
CFPB: 5 Financial New Year’s Resolutions
It’s that time of year again. A brand new year and time when we talk about our resolutions to better ourselves at work, home, and in many other ways. This year, why not add a financial goal to your resolution list? Even if you’re not the type to make an “official” New Year’s resolution, here…
HUD: New FHA Loan Limits for 2018 Announced
Loan limits to increase in more than 3,000 counties The Federal Housing Administration (FHA) today announced the agency’s new schedule of loan limits for 2018, with most areas in the country to experience an increase in loan limits in the coming year. These loan limits are effective for FHA case numbers assigned on or after…
HUD: FHA to Halt Insuring Mortgage with PACE Assessments
The Federal Housing Administration (FHA) today announced it is reversing a short-lived policy announced in July of 2016 and will no longer insure new mortgages on properties that include Property Assessed Clean Energy (PACE) assessments. Read FHA’s mortgagee letter. FHA’s decision is part of a larger effort to protect the health of its Single Family…
FHFA: Further Data Released on Non-Performing Loan Sales
The Federal Housing Finance Agency (FHFA) today released its fourth report providing information about the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). The Enterprise Non-Performing Loan Sales Reportincludes information about NPLs sold through June 30, 2017. It reflects borrower outcomes as of June 30, 2017, on NPLs sold through…
FHFA: Progress Update on the Single Security Initiative and Common Securitization Platform
The Federal Housing Finance Agency (FHFA) today published An Update on Implementation of the Single Security Initiative and the Common Securitization Platform detailing progress toward further implementation of the Common Securitization Platform (CSP) and launch of a single, common security called the Uniform Mortgage-Backed Security (UMBS). As announced previously, Fannie Mae and Freddie Mac (the…
FDIC: FDIC Consumer News Offers Tips on Dealing with Debt
Whether you have a little bit of debt or a lot, managing it wisely and ultimately paying off what you owe can be crucial to your financial well-being. The Fall 2017 FDIC Consumer News suggests ways to handle different kinds of debt, including: What to do if you’re struggling to pay your loans, credit cards…
Federal Reserve: FEDS | Housing Bust, Bank Lending & Employment: Evidence from Multimarket Banks
Housing Bust, Bank Lending & Employment: Evidence from Multimarket Banks (PDF) David P. Glancy Abstract: I use geographic variation in bank lending to study how bank real estate losses impacted the supply of credit and employment during the Great Recession. Banks exposed to distressed housing markets cut mortgage and small business lending relative to other…