Housing

A proposal allowing more lenders to skip outside appraisals could remove a hurdle to quick closings, but appraisers say they could be collateral damage.

The current deputy secretary of the Department of Housing and Urban Development, Pam Patenaude, will step down in January.

Hearings of interest to credit unions have been postponed as the government prepares to close for a day of mourning following the death of President George H.W. Bush.

Under the Federal Housing Finance Agency's plan, small Home Loan banks would face a new housing benchmark and a volume threshold for meeting the goals would be eliminated.

The retailer is ending its nearly two-decade credit card relationship with Synchrony Financial; Mulvaney says the bureau will first negotiate, not sue, to settle disputes.

The banking industry lost a key battle in the Supreme Court over the use of “disparate impact,” but legal observers see potential for the tide to turn if Judge Brett Kavanaugh is confirmed.

Montgomery was confirmed by the Senate 74-23 to serve his second stint at the FHA, where he previously was commissioner during the George W. Bush administration.

Supporters of an unreleased bill to revamp the housing finance system say the plan strikes a middle ground that can gain support from both sides of the aisle.

Craig Phillips, a top aide to Treasury Secretary Steven Mnuchin, said his department "broadly" agrees with the FHFA plan, which would return Fannie Mae and Freddie Mac to the private market and provide them an explicit government guarantee.

A House Republican tax proposal that infuriated housing groups and sent homebuilder stocks sliding would only have a modest impact on the market for new homes and could end up being a net positive for the industry, according to Keefe, Bruyette & Woods analysts.

Hopes that tax reform might soften a weakening of the mortgage interest deduction were quickly dashed as the GOP plan landed a double punch on the incentive cherished by the mortgage and housing industries.

Some housing groups are warming to an idea that they say could help more Americans benefit from housing-related subsidies than the mortgage interest deduction.

As expected, President Trump has nominated Brian Montgomery to serve as the commissioner of the Federal Housing Administration.

New data shows that large commercial banks are increasing their originations of single-family construction loans, but these loans still represent a small percentage of their total assets.

With traditional mortgage lending opportunities becoming increasingly scarce, banks in Seattle and Portland are loading up on jumbos, diving into multifamily and reviving dormant bridge loan programs.

FHFA Director Mel Watt warned Thursday that to prevent a potential draw on the Treasury Department by the government-sponsored enterprises, he is willing to act unilaterally to rebuild capital at Fannie and Freddie.

The groups and industry trade associations want the Treasury Department and the FHFA to allow Fannie Mae and Freddie Mac to build up capital reserves.

Implementation of the second phase of the common securitization platform had been projected for next year, but the anticipated time frame was delayed following "lessons learned" from the first phase.

Rising interest rates have slowed a recent run of unexpectedly high prepayments of government-insured mortgages, making servicing rights for loans held in Ginnie Mae securities more attractive to investors.

Rising interest rates typically cause lenders to relax underwriting guidelines. The incoming administration promises to deregulate. Sounds like a combustible mix, but there's ample room to loosen credit without returning to the practices that caused the crisis.