With prospects for the Build Back Better Act doomed, Senate leadership has proposed a new version of the budget reconciliation legislation under the moniker the Inflation Reduction Act.

Historically, a recession has been defined as two consecutive quarters of a drop in the GDP.

The Mortgage Bankers Association’s MORPAC political action committee has raised a record-breaking $2.7 million during the current election cycle and mortgage brokers recently launched their own PAC.

The unprecedented concentration of Black women leadership in the housing finance industry is an opportunity to make changes that have been long overdue, according to Ginnie Mae President Alanna McCargo.

The Federal Open Monetary Committee said it also plans further reductions in its holdings of mortgage-backed securities.

Trade groups amplify concerns as the end of suspension of the PSPA limits approaches.

Commissioner Julia Gordon assured industry participants that she is working through the challenges of bringing changes to the FHA home loan program.

The Mortgage Bankers Association called for FHA to have enough funding for it to better manage the risks associated with the Mutual Mortgage Insurance Fund.

The government mortgage insurer wants to see how decisions made during the origination process impact the loan life cycle.

Commenters said the challenges that servicers face in responding to COVID-related loss-mitigation programs argue against a rush by VA to implement its servicer tier rankings.