Bloomberg, Feb. 1, 2017–James Tarmy; Kartikay MehrotaThe Millennium Tower is still sinking, and residents might be stuck paying for the fixes themselves.
Category: Top National News
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.
Mortgage Industry Pushes to Free Fannie and Freddie from the Federal Government
Washington Examiner, Feb. 6, 2017–Joseph LawlerThe Mortgage Bankers Association, a key housing industry trade group, plans to lobby Congress and the Trump administration to effectively turn Fannie and Freddie into private utilities and to allow new entrants to compete with them on the same terms.
Trump Signs Executive Order to Reconsider Wall Street Regulations
Washington Post, Feb. 3, 2017–Renae Merle”We expect to be cutting a lot out of Dodd-Frank,” Trump said during a meeting with business leaders Friday morning. “Because frankly, I have so many people, friends of mine, that had nice businesses, they just can’t borrow money … because the banks just won’t let them borrow because of the rules and regulations in Dodd-Frank.”
The $100 Billion Reason Investors Loved Trump’s Bank Order
Wall Street Journal, Feb. 5, 2017–Telis Demos; Peter RudegeairThe six biggest U.S. banks could potentially return more than $100 billion in capital to investors over time through dividends and share buybacks if the Trump administration succeeds in a push to loosen bank regulation.