Politics

Common Securitization Solutions has disbanded a group of independent board members originally brought on in early 2020 to look into using the government-sponsored enterprises’ platform to serve a broader market.

The organizations have created the Racial Equity Accelerator for Homeownership, a two-year incubator for the development of innovations to address racial inequality in wealth and housing.

Criticism from banking and other business groups of Saule Omarova’s candidacy could make it difficult for moderate Democrats to support President Biden's pick to lead the Office of the Comptroller of the Currency.

The proposal calls for a 20-year mortgage with Ginnie Mae and Treasury participation, but critics suggest that other measures would be more effective in bridging the gap in home equity.

The need to size up the impact of hurricanes and pollution is increasing and current measures aren’t as precise as credit or rate models, according to the Research Institute for Housing America.

Saule Omarova supports allowing the Federal Reserve to hold customer deposits and is skeptical of big-bank M&A. While those views are unpopular in the industry, banking critics hailed the choice to lead the Office of the Comptroller of the Currency.

The company will return to selling pieces of its credit exposure to private investors during the last three months of the year, but is still evaluating its strategy for 2022.

Sandra Thompson, who has been acting director of the Federal Housing Finance Agency since June, has won backing from the mortgage industry and community groups for the experience she brings to the role. The push comes as the administration is said to be considering Mike Calhoun of the Center for Responsible Lending.

The chair of the House Financial Services Committee endorsed acting Federal Housing Finance Agency Director Sandra Thompson as rumors abound that the administration is considering someone else for the job.

The pandemic, a refinancing boom and intensified appraiser shortage boosted appraisal alternatives in line with the rise in remote work. Now an overheating purchase market and policymaker scrutiny are shifting priorities.

The move adds to signs that the broader restart of foreclosures won’t get fully underway until 2022.

A hike in guarantee fees charged to lenders for the companies’ backing of loans was due to expire this year, but lawmakers now want to extend it to raise $21 billion for the bipartisan package.

Both in terms of interest expense and the sheer cost of dealing with consumers, the mortgage industry is out hundreds of millions of dollars due to this unfunded mandate from Congress, analyst Chris Whalen says.

The SFA on Wednesday released a statement saying the organization could not “responsibly consider” contributing to future campaigns to U.S. House or Senate members who sought to nullify Electoral College results.

The incoming administration chose a battle-tested policymaker who can draw on her nearly two decades at the Fed to help rebuild an economy still struggling from the coronavirus pandemic.

Former Commodity Futures Trading Commission Chairman Gary Gensler and KeyBank NA executive Don Graves have been tapped to examine financial regulators as part of Joe Biden’s presidential transition, according to a person familiar with the matter.

The head of the U.S. central bank said its emergency credit programs were not designed to prop businesses up over the long term.

The head of the Senate panel overseeing Federal Reserve and Treasury Department efforts to boost the U.S. economy urged the agencies to remember their disclosure requirements.

The Elections 2020 panel focused on topics such as the long-shot proposal for a wealth or transaction tax on Wall Street, as well regulatory changes that Sanders or another Democratic candidate's administration could enact affecting housing reform or banking oversight.

Both Democrats and Republicans aired concerns about controversial statements made by Judy Shelton on monetary policy, deposit insurance and other issues, raising doubts about her confirmation.