Hannah Lang is a Washington-based reporter who writes about federal mortgage policy and the U.S. housing finance system for American Banker and National Mortgage News. She is a former multimedia reporter for the Capital News Service and a graduate of the University of Maryland at College Park.
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Loan officers surveyed by the central bank said the subpar creditworthiness of some applicants and the ability of others to find credit elsewhere are among reasons the middle-market rescue facility has fizzled.
September 29 -
The Financial Stability Oversight Council said the mortgage giants may need a bigger capital cushion than their regulator has proposed, but stopped short of designating them as “systemically important financial institutions.”
September 25 -
Capping a series of appearances on Capitol Hill this week, the Federal Reserve chair and Treasury secretary emphasized that they don’t have the authority to reallocate CARES Act funds to assist small businesses on their own.
September 24 -
![Fed Chairman Jerome Powell said the central bank had previously concluded that asset-based borrowers were able to secure financing elsewhere. Treasury Secretary Steven Mnuchin said “small hotels do not fit into [the Main Street Lending Program] because they already have other indebtedness.”](https://arizent.brightspotcdn.com/dims4/default/71a30be/2147483647/strip/true/crop/1600x900+0+0/resize/1280x720!/quality/90/?url=https%3A%2F%2Fsource-media-brightspot.s3.us-east-1.amazonaws.com%2Fb3%2F79%2F3b1db6264efa9eab86e05b296afc%2Fpowell-jerome-mnuchin-steven-bl-092220.png)
Commercial real estate companies are among those left out of the Federal Reserve’s middle-market relief program, but House members said they need government-backed financing to navigate the pandemic as much as anyone.
September 22 -
The central bank's proposal to overhaul the Community Reinvestment Act differs markedly from the OCC's regulation in testing, data collection and other areas.
September 21 -
The Federal Reserve and the Treasury Department released a set of FAQ's aimed to clearing up misconceptions about the Main Street Lending program and encouraging more bank participation.
September 18 -
The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.
September 17 -
The agency has scheduled an extra assessment of institutions' strength to incorporate more recent economic data during the pandemic.
September 17 -
The Federal Reserve Board will discuss an advance notice of proposed rulemaking on the Community Reinvestment Act at an open meeting. The central bank had previously declined to support an OCC rule overhauling the 1977 law.
September 17 -
With only a fraction of the funds allocated being used, Federal Reserve Chair Jerome Powell said the central bank is considering tweaks to the middle-market rescue program in an appeal to lenders wary of taking on added risk.
September 16
![Fed Chairman Jerome Powell said the central bank had previously concluded that asset-based borrowers were able to secure financing elsewhere. Treasury Secretary Steven Mnuchin said “small hotels do not fit into [the Main Street Lending Program] because they already have other indebtedness.”](https://arizent.brightspotcdn.com/dims4/default/39df247/2147483647/strip/true/crop/1600x900+0+0/resize/1440x810!/format/webp/quality/90/?url=https%3A%2F%2Fsource-media-brightspot.s3.us-east-1.amazonaws.com%2Fb3%2F79%2F3b1db6264efa9eab86e05b296afc%2Fpowell-jerome-mnuchin-steven-bl-092220.png)
