FHFA Releases Fannie, Freddie Progress Report
The Federal Housing Finance Agency today released a progress report on its goals for Fannie Mae and Freddie Mac while the GSEs are in federal conservatorship.
The Federal Housing Finance Agency today released a progress report on its goals for Fannie Mae and Freddie Mac while the GSEs are in federal conservatorship.
Lawmakers echoed bankers’ concerns about “mission creep” by the government-sponsored Farm Credit System in a House Agriculture Committee hearing today on the system’s performance and overall safety and soundness.
The Federal Open Market Committee should raise interest rates at every other meeting by default in 2017 unless economic data come in that are inconsistent with forecasts, Federal Reserve Bank of Boston President and CEO Eric Rosengren said today.
The biggest obstacle in the way of banks’ ability to create jobs and grow the economy is a framework of overly prescriptive rules and “one-size-fits-all” regulations, ABA Chairman Dorothy Savarese wrote in a Fox Business op-ed today.
The CFPB’s recent mortgage servicing rules are the latest addition to the thousands of pages of servicing regulations. To help bankers, compliance professionals and mortgage lenders navigate the rules, ABA has published a members-only Reference Guide to Mortgage Servicing.
The FDIC today released a report outlining effective strategies for promoting savings among young people, based on the experiences of 21 banks that participated in a two-year Youth Savings Pilot program.
Billing disputes account for 17 percent of consumer complaints about credit cards, with identity theft and fraud concerns accounting for an additional 10 percent, according to the Consumer Financial Protection Bureau’s periodic summary of consumer complaints today.
The Conference Board Consumer Confidence Index increased to 125.6 in March, up 9.5 points from February. The Present Situation Index rose 8.7 points to 143.1, while the Expectations Index jumped 9.9 points to 113.8. “Consumer confidence increased sharply in March to its highest level since December 2000 (Index, 128.6),” said Lynn Franco, Director of Economic
Community banks slightly increased their numbers of branches in 2016 and over the previous five years, despite an ongoing trend in reduced branch numbers since 2008, according to the latest issue of the FDIC Quarterly.
Since the Federal Housing Finance Agency launched a credit risk transfer program for GSEs Fannie Mae and Freddie Mac in 2013, the enterprises have transferred $49 billion in credit risk to private investors, amounting to about 3.4 percent of $1.4 trillion in unpaid principal balance.