Government

The Bureau has issued a new analysis on state Community Reinvestment Act laws, examining affirmative lending, service delivery, and investment obligations by mortgage companies and deposit-taking institutions. Read the details after the link.

In an effort to assist borrowers impacted by Maui’s August wildfires, mortgage servicers will be prohibited from initiating or completing foreclosure actions through May 6, 2024.

Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs has drafted the outline for a bill to revitalize the U.S. economy and boost avenues for capital formation. Click through to read highlights of the proposal.

Rep. Maxine Waters has issued a letter to the Chair of the SEC to move quickly to finalize its proposal to improve the quality of climate-related disclosures in the nation’s capital markets. Click through the read the details.

The Federal Reserve’s Open Market Committee (FOMC) chose to forgo the opportunity to raise the central bank’s nominal interest rate at the conclusion of their October/November meeting, a repeat of the action the committee last took in September.

Delivering solid third quarter earnings while supporting the U.S. housing finance system, Freddie Mac reported net revenues at $5.7 billion, up 10% year-over-year, driven by higher net interest income and non-interest income.

Quarter-over-quarter, the GSE reported that net income decreased $295 million in Q3 of 2023 over Q2, as Fannie Mae assisted with the purchase, refinance, or rental of 428,000 households in the third quarter. Read the full financials in our story after the link.

The Illinois Supreme Court has reversed the Third District’s holding in a case where a property owner was entitled to a refund for monies it paid for property taxes on land which the government seized in eminent domain proceedings. Click through to read details of the decision.

A new bill by Representatives Mike Kelly (R-PA), Chairman of the Ways and Means Subcommittee on Tax; Dan Kildee (D-MI); Carol Miller (R-WV); and Terri Sewell (D-AL) would require mandatory data reporting for public housing projects. What does that mean for landlords and renters/buyers alike?

An upcoming Senate Banking Committee hearing will focus on protecting our nation’s veteran population, with a discussion on VA housing assistance programs.