FOMC holds federal funds rate steady; MBA expects rate cut later this year; House committee votes to slash CFPB’s budget.

Fannie remains profitable in a tight mortgage market, even though below-the-line expenses shave a little off net income.

Although consistent rent payments over time are one of the best indicators of a borrower’s ability and willingness to repay a mortgage, GSE programs that exploit that information are woefully under-utilized.

Hearing scheduled for May 16 to analyze massive layoffs at CFPB; Fannie economists slightly lower forecast for mortgage rates; Horizon Bank sells warehouse unit for a profit.

The FHFA director believes mortgage fraud is rampant at Fannie and Freddie. That includes allegations that New York Attorney General Letitia James, a nemesis of President Trump, fraudulently obtained GSE-backed loans. James denies the allegations.

New bills in Congress aimed at the housing market have some bipartisan support; Trump fires Democrats on NCUA board; Trump administration looks to boost mortgage activity at smaller banks.

Fannie and FHFA accused the employees of fraud and deceitful actions, but provided no details of wrongdoing.

The MBA has offered a number of suggestions on the New York Department of Financial Services’ proposed CRA requirements for nonbanks.

The federal regulators’ decision to give in to pressure by trade groups representing banks isn’t sitting well with consumer advocates.

FHFA directed the GSEs to end their SPCPs, prompting renewed concerns that the Trump administration could take further actions to limit special purpose credit programs in the mortgage market.