Mortgage rates rise

The Federal Housing Administration has released a draft mortgagee letter proposing a Reinstatement Advance Payment Demonstration that would provide a voluntary alternative method for securing partial claim and payment supplement debt. The proposal would eliminate the need for...

The Senate Agriculture Committee failed to advance the Farm Bill after committee Democrats objected that the legislation did not contain a two-year delay of changes to the Supplemental Nutrition Assistance Program.

The rate for a 30-year fixed-rate mortgage was 6.69% this week. The rate for a 15-year fixed-rate mortgage was 6.01%.

ABA urged lawmakers to support two bills to extend the Terrorism Risk Insurance Program by another seven years, saying that it offers commercial real estate markets and lenders certainty on their investments.

In his new role, Russell Davis will lead ABA’s Office of Member Engagement, aligning the association’s membership and member experience strategies to ensure ABA continues delivering exceptional value to banks of all sizes.

ABA supports requiring stablecoin issuers to comply with the Bank Secrecy Act and sanctions requirements, but proposed rulemaking to establish those standards needs further refinements, the association said in a letter to the FDIC.