Fannie Mae and Freddie Mac will participate in the federal government’s Home Affordable Modification Program and Home Affordable Refinance Program through the end of 2016, Federal Housing Finance Agency Director Mel Watt said in a speech on Friday in Los Angeles.
The GSEs’ participation in HAMP and HARP was originally scheduled to end this year. Watt estimated that more than 600,000 borrowers could still qualify for HARP while interest rates remain low and he encouraged borrowers to apply.
Legislation to hold social media companies accountable for the scam ads appearing on their platforms would reduce consumer fraud losses by targeting “a key entry point” for the crime, ABA and 52 state bankers associations said in a...
The Office of Foreign Assets Control did not extend a one-month exemption on sanctions for Russian oil exports, which expired on April 11.
The National Credit Union Administration should pause setting up a process through which credit unions can seek approval to issue stablecoins through a subsidiary until the agency has proposed other regulatory safeguards for stablecoin issuers, ABA said in...
The ABA Office of the Chief Economist sees the decline in existing home sales as driven by continued affordability concerns.
The FDIC rescinded a 2023 financial institution letter that had stated that banks’ charging representment nonsufficient funds fees may be a deceptive or unfair practice under section 5 of the Federal Trade Commission Act.
New orders for manufactured goods in February increased $300 million from the month prior to $620.1 billion, marking the second consecutive month in which the totals were virtually unchanged.
