Author Kerry O'Leary

Kerry O'Leary

Kerry O'Leary is a senior writer at the ABA Banking Journal.

Payments

FirstBank CEO and ABA Government Relations Council Chairman Jim Reuter talks about blazing a trail.

Economy

The Federal Open Market Committee said it expects economic growth from the new tax legislation but was unsure about the pace of growth in deciding when and how many times to raise rates this year, according to minutes following the FOMC’s Dec. 12-13, 2017, meeting. During the meeting, the committee decided to raise the target

Newsbytes

Fannie Mae and Freddie Mac have sold 82,359 nonperforming loans as of June 30, 2017, with a total unpaid balance of $16 billion, according to the fourth Non-Performing Loan Sales Report released today by the Federal Housing Finance Agency. On average, the NPLs had a delinquency of 3.3 years and an average current loan-to-value ratio of

Newsbytes

The Federal Housing Finance Agency said yesterday that it will raise the maximum conforming loan limits for mortgages Fannie Mae and Freddie Mac purchase in 2017 from $424,000 to $453,100. The announcement marks the second time FHFA has increased the baseline loan limit since 2006. The first increase was in 2017. In high-cost areas, such

Mortgage

The share of current and performing first-lien mortgages rose to 95.4 percent for the second quarter, up from 94.7 percent a year earlier, according to the Mortgage Metrics Report released today by the OCC. The report is generated from data from seven large national banks representing 35 percent of all outstanding residential mortgages. Foreclosure activity

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