Bloomberg, Jan. 31, 2017–Patrick ClarkHousing advocates in New York have been lobbying the city government to set aside millions of dollars to pay attorneys’ fees for tenants facing eviction, arguing that providing legal aid to a poor renter is cheaper than paying for a bed in a homeless shelter.
Category: Top National News
Senate Republicans Unveil Bill to Replace CFPB Director with Committee
HousingWire, Feb. 1, 2017–Ben LaneOn Tuesday, Sens. Deb Fischer, R-Neb.; John Barrasso, R-Wyo.; and Ron Johnson, R-Wis., introduced a bill that would replace the single director of the Consumer Financial Protection Bureau with a five-member bipartisan committee, a change the Republican Party has long pushed for.
JPMorgan Chase to Pay Nearly $800 Million in Final Lehman Brothers Settlement
HousingWire, Feb. 1, 2017–Lane, BenJPMorgan Chase disclosed Wednesday that it reached a final settlement agreement with Lehman Brothers, ending the failed investment bank’s lawsuit over claims that JPMorgan illegally siphoned billions of dollars from Lehman before its collapse.
Who Will Pay for San Francisco’s $750 Million Tilting Tower?
Bloomberg, Feb. 1, 2017–James Tarmy; Kartikay MehrotaThe Millennium Tower is still sinking, and residents might be stuck paying for the fixes themselves.
The Fed’s Bond Portfolio Is Growing Up, and That Means Less Support for the Economy
Wall Street Journal, Feb. 2, 2017–Ben Eisen; Min ZengFederal Reserve Chair Janet Yellen says declining maturity of portfolio has same impact as two rate increases in 2017.
The Reality of Unraveling Dodd-Frank
The Hill, Feb. 2, 2017–Ian KatzThe author, with Capital Alpha Partners, says the problem for Trump is that he can’t do it through an executive order. He can use the bully pulpit, but to amend the law he has to go through lawmakers. “There’s no quick fix.”
Fitch: Fannie Mae, Freddie Mac Reform May Be Put on Back-Burner
HousingWire, Feb. 2, 2017–Ben LaneWhile Treasury Secretary nominee Steven Mnuchin’s comments made it clear that the Trump administration views housing finance reform as a high priority, the question is how the Trump administration would go about reforming the complex world of housing finance.
Top Republican Demands Fed Stop Participating in Basel, FSB
American Banker, Feb. 2, 2017–John HeltmanRep. Patrick McHenry, R-N.C, vice chair of the House Financial Services Committee is calling on the Federal Reserve to unilaterally disengage from the Financial Stability Board and Basel Committee on Banking Supervision until President Trump has installed his nominees on the Fed board.
Investors’ Victory in GSE Case May Be Turning Point Against Treasury
National Mortgage News, Feb. 2, 2017–Brian CollinsA federal appeals court ruling has opened the door for litigants to challenge a 2012 decision by the U.S. government to sweep all of Fannie Mae and Freddie Mac’s profits into the coffers of the Treasury Department.
HECM Endorsements Up From Year Earlier
Mortgage Daily, Feb. 2, 2017During the first month of the new year, endorsements of home-equity conversion mortgages by the Federal Housing Administration came to 4,578 units.