America's banks could largely weather a major housing downturn, a new Federal Reserve Bank of San Francisco analysis finds, and that includes thousands of smaller lenders who typically have higher exposure to real estate.
Borrowers and financial institutions may be feeling the strain from reduced operations at the FHA and IRS, which has suspended the release of certain income documentation during the budget impasse.
The mortgage industry heads into 2019 with little relief from the market strains of the past three years. To succeed — or at least survive — lenders must confront major questions about demand, affordability and market consolidation.
The House Financial Services Committee held a hearing to examine the outgoing committee chairman's bipartisan GSE reform bill, but lawmakers were already looking ahead.
The process to confirm Mark Calabria as FHFA director could be lengthy, forcing the White House to consider how it will proceed with housing finance reform under Joseph Otting as acting head of the agency.
A proposal allowing more lenders to skip outside appraisals could remove a hurdle to quick closings, but appraisers say they could be collateral damage.
Loans to house flippers dropped 11% in the third quarter, indicating "possible turbulence;" the German bank may have allowed some clients to claim tax credits on stock they didn't own.
Home prices are rising and first-time buyers now account for an increasing share of sales, factors that could lead to a surge in defaults during the next economic downturn.
