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Home | News | Government

Fannie Mae Reduces Risk Pool

Fannie Mae is making moves again—this time it has completed its second set of traditional Credit Insurance Risk Transfer. Read on to find the amount of coverage the GSE received and the terms of the deal.

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Is Freddie Fattening Up its Portfolio

Freddie Mac’s belt is getting a little bit tighter as its portfolio increases yet again. But while it certainly rose over last month, the portfolio’s growth is nothing compared to a few months prior. So what does that mean for the long-term health of the GSE?

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OCC Head Has Ideas to Help Smaller Banks

When it comes to regulatory reform, smaller community banks should be a prime concern, according to Acting Comptroller of the Currency Keith A. Noreika. Noreika said as much in his address of the Senate Committee on Banking, Housing, and Urban Affairs on Thursday. He also laid out several steps lawmakers can take to lower barriers of entry and expand opportunities for community banks across the country.

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What Goes Up Must Come Down

A bill by Representative Tom Emmer (R-Min) that would increase the reporting threshold under the Home Mortgage Disclosure Act for open-end lines of credit and closed-end mortgages was introduced Tuesday. This isn’t the first legislation of its kind; several are urging CFPB to provide exemptions from its rules. Many of these requirements will be rolled out after the first of 2018. See what Representative Tom Emmer and Congressman Blaine Luetkemeyer have in mind.

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Come Together

Despite the fact that many of the nation’s largest banks saw lower profits in the first quarter—compared to the fourth quarter of 2016—and that mortgage demand fell during the same period, industry surveys show lender confidence is high that 2017 will be a good year for home finance.

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Agencies Release CRA-Eligible List

Close to 5,000 U.S. areas are eligible for consideration under the Community Reinvestment Act (CRA), according to a list released by several government agencies on Wednesday. The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Board of Governors of the Federal Reserve System released their joint list of distressed or underserved nonmetropolitan middle-income geographies today, which pinpoints the thousands of low- and moderate-income CRA-eligible communities across the nation. Enacted in 1977, the Community Reinvestment Act encourages banks to better meet the needs of the communities in which they operate.

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Reconstruction Program Aims to Soften Fallout of Natural Disasters

A recent report examined the success of a Build it Back program, which restores homes destroyed by natural disasters. The program has been mostly successful, but some critics find it lacking in certain areas, such as build times and layout adherence. And even though nearly three-quarters of its docket has been completed, a high dropout rate is still a major struggle.

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Jury Convicts Nomura Trader on Conspiracy Charge

A Connecticut jury found a former Nomura executive guilty on one conspiracy charge on Thursday for allegedly tacking on secret commission fees to RMBS transactions he handled between 2009 and 2013. Two other Nomura employees were also named in the suit, which was filed by the state in September 2015. In addition to one conspiracy charge each, the trio was also charged with two counts of securities fraud and six counts of wire fraud a piece. The jury was hung on three counts, and the defendants were found not guilty on the additional charges.

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Pam Patenaude’s Advancement Sparks Industry Excitement

Pam Patenaude was advanced by the Senate Banking Committee on Wednesday afternoon as Deputy Secretary of the Department of Housing and Urban Development, although she still must pass the Senate confirmation vote. Patenaude was received favorably by all members of the committee, aside from Senator Elizabeth Warren (D-MA) who requested to be recorded as a no vote.

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