The settlement between Franklin Credit Management and the Massachusetts attorney general will require the servicer to cease collecting or attempting to collect on “zombie” second liens in the state.
Deputy Secretary of Treasury Wally Adeyemo hinted that the government might reduce its support of the FHLBanks if they don’t put more funds toward affordable housing.
The Federal Reserve announced a 50-basis-point reduction in the federal funds rate this week. Interest rates on mortgages have come down by more than that in recent weeks in anticipation of the Fed’s move.
More than a week after a Fed official outlined a planned re-proposal to adjust capital requirements for large banks, industry participants are still waiting for the formal document.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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