Mortgage

Household Debt Jumps to End 2016

Outstanding household debt increased by a robust 1.8 percent in the final quarter of 2016, rising by $226 billion to $12.58 trillion, the Federal Reserve Bank of New York said today.

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Trades: FCC Overstepped Authority in TCPA Exemption Final Rules

In a joint comment letter to the Federal Communications Commission this weekend, ABA and the Consumer Bankers Association urged the FCC to facilitate -- not impair -- important communications between lenders and borrowers of debt owed to or guaranteed by the federal government, including calls made to service federally guaranteed or insured mortgages or federal student loans.

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Fed Survey: CRE Tightening Trend Continues

Bankers continued tightening credit for commercial real estate loans and consumer loans in the last three months while holding steady on other business loans and easing credit standards very slightly in their home mortgage portfolios, according to the Federal Reserve’s latest senior loan officer survey released today.

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HUD Suspends Cut in FHA Mortgage Insurance Premiums

In one of its first actions after the inauguration on Friday, the Trump administration suspended a previously announced reduction in mortgage insurance premiums paid by borrowers with new Federal Housing Administration-insured mortgages and refinances.

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HUD Nominee Carson to Take ‘Holistic’ Approach to Housing

Testifying before the Senate Banking Committee today, Housing and Urban Development secretary nominee Dr. Benjamin Carson said he would take a “holistic” approach to affordable housing if confirmed, noting that many factors -- such as healthcare and education -- must be considered when tackling issues affecting low-income Americans.

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