Movement locked rates on $1.1 billion of mortgages in January, an 11 percent increase from the same month a year ago. It called the improvement an "indicator of future growth in February and March.”
After a long hiatus, in 2017 Fannie and Freddie reinstated their first contribution to the National Housing Trust Fund, which amounted to roughly $186 million. Fannie plans to contribute $239 million to the trust funds this quarter, Freddie $114 million.
The Trump administration has released a proposed fiscal year 2019 budget that envisions big changes for the CFPB. According to budget documents, the White House is proposing to restructure the bureau, limit its mandatory funding in 2019, and provide discretionary, congressional appropriations to fund the agency beginning in 2020. Many of the proposed changes would require revisions to the bureau’s charter by Congress that would likely face a difficult path to enactment ...
The CFPB under the leadership of Acting Director Mick Mulvaney last week issued its latest five-year plan that differs markedly from the previous one in that it takes a more industry-friendly posture than the last one that was issued back in 2013 under the Richard Cordray era. “If there is one way to summarize the strategic changes occurring at the bureau, it is this: we have committed to fulfill the bureau’s statutory responsibilities, but go no further,” Mulvaney said. “By hewing to the statute ...
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