The FHLBanks followed existing rules when they continued to provide advances to Silicon Valley, Signature and First Republic banks prior to their failures last March.
Many mortgage brokers failed to satisfy a two-part test that determines whether compensation they received from a lender is permissible under the Real Estate Settlement Procedures Act.
The FDIC’s updated economic inclusion strategic plan includes a goal to increase mortgage lending by banks. The plan leans heavily on education and outreach, though CRA credit could also be an option.
U.S. Mortgage Insurers warned federal banking regulators against unintended consequences to the housing market if they finalize changes to capital requirements for large banks without fixes.
The Council of the Federal Home Loan Banks and the Federal Housing Finance Agency find themselves on opposite sides in a debate over the mission of the FHLBanks.
If the National Flood Insurance Program is allowed to lapse mid-November, the impact could extend beyond single-family lending, the Congressional Research Service has warned.