Category: Top National News

Wall Street Journal, Apr. 9, 2019–William G. Gale (subscription)The author says less than half as many American taxpayers are claiming the mortgage-interest deduction for 2018 as did the year earlier. “With any luck, the 2017 tax overhaul will prove to be only the first step toward eventually replacing the century-old housing subsidy with a more effective program.”

American Banker, Apr. 9, 2019–Rachel Witkowski (subscription)Senior officials at the Office of the Comptroller of the Currency, Federal Deposit Insurance Corp. and Federal Reserve briefed industry leaders at a conference last week on their discussions, providing further signs of momentum in efforts to develop an interagency CRA proposal.

HousingWire, Apr. 9, 2019–Jessica GuerinBen Carson said his critics have it all wrong–he is not trying to unravel the fair housing rules put into play by the Obama administration, he is trying to uphold them.

HousingWire, Apr. 8, 2019–Ben LaneNearly four years after the legal battle between Quicken Loans and the Department of Justice began, the case may finally be decided in court later this year. But not before the parties give settling the matter at least one more try.

Washington Post, Apr. 8, 2019–Renae MerleThe Federal Reserve Board on Monday proposed easing key post-crisis regulations for the country’s biggest banks, despite concerns from one member that the proposal goes too far.

American Banker, Apr. 8, 2019–Kevin Wack (subscription)The multi-billion dollar settlement did not actually require Deutsche to offer any loan modifications; they were merely one option on a menu of choices available to the bank. And after initially pledging to provide modifications, Deutsche Bank recently backed out of that plan, saying that it would instead fulfill its settlement obligations by financing new mortgages, some of which have gone to wealthy borrowers.

National Mortgage News, Apr. 8, 2019–Brad Finkelstein (subscription)The commercial mortgage-backed securities delinquency rate increased for the first time since October, led by a 31-basis-point rise in late payments for loans secured by retail properties, Fitch Ratings said.

National Mortgage News, Apr. 5, 2019–Brad Finkelstein (subscription)At least one investment bank thinks the prospects of privatization have improved enough that the equity in Fannie Mae has become sufficiently interesting to merit the attention of its analysts.

MarketWatch, Apr. 4, 2019–Andrea RiquierCalabria, who most recently served as chief economist to Vice President Mike Pence and, before that, at the libertarian think tank the Cato Institute, was confirmed by a 52-44 vote. (MBA mention)

National Mortgage News, Apr. 4, 2019–Bonnie Sinnock (subscription)If housing finance reform reduces the government-sponsored enterprises’ involvement in the mortgage market, banks could gain a funding advantage over nonbanks, according to a Moody’s Investors Service report.