The Fed established the Bank Term Funding Program to help alleviate pressure faced by depository institutions holding MBS and other assets with large unrealized losses. Tracking usage of the BTFP in real-time was limited.
The auto parts maker removed and replaced its independent directors just before it filed for Chapter 11 bankruptcy, a move that is being challenged in court.
The Mortgage Bankers Association has called on lawmakers to end tri-merge requirements for loans sold to the government-sponsored enterprises following reports of increased pricing for credit reports.
Homebuilders prefer interest rate buydowns over pricing incentives, not only because they’re cheaper, but also because if they lower the price on one home, other buyers will expect the same.
The benefits the FHLBank system provides to the financial sector look to outweigh the roughly $6.9 billion federal subsidy they receive via an implicit government guarantee.
In recent court filings, the CFPB cited a memo from the Department of Justice that said the Federal Reserve currently lacks “combined earnings” from which the bureau can draw.