News Topic: Mortgage interest deduction

Any decline in home equity balances could be offset by higher demand for other types of consumer loans. The worry is that only borrowers with blemished credit will take out home equity loans, increasing banks’ risk. ... Read full article

The House vote moved a sharp reduction in the corporate tax rate for banks and other businesses to within a few steps of becoming law. ... Read full article

With tax reform close to the finish line, bankers are still clear winners from the compromise worked out between House and Senate negotiators. But the bill includes some caveats that might give institutions pause. ... Read full article

A provision in the original Senate tax reform bill would have required companies acquiring mortgage servicing rights to pay taxes upfront for their anticipated servicing income. ... Read full article

The battle lines are drawn between those seeking to protect the mortgage interest deduction and a legislative effort to greatly reduce its use. Hopefully, this is a battle that taxpayers will win. ... Read full article

Company’s first earnings report since the data breach also discloses lots of suits and investigations; Senate bill also calls for one-year delay in corporate tax rate cut to 20%. ... Read full article

The Senate tax proposal released Thursday would cap the mortgage interest deduction for properties worth $1 million, a reversal from the House plan that would have limited the deduction to $500,000. ... Read full article

Here's a look at the 12 housing markets with the largest percentages of mortgages over $500,000 — the new threshold House Republicans have proposed for the mortgage interest deduction in their tax plan. ... Read full article

A House Republican tax proposal that infuriated housing groups and sent homebuilder stocks sliding would only have a modest impact on the market for new homes and could end up being a net positive for the industry, according to Keefe, Bruyette & Woods ... Read full article

Top banking executives called the Republican tax plan an important first step toward tax reform and economic stimulus, but questions immediately arose about whether trade-offs and complexities in the bill would undercut it. ... Read full article

Hopes that tax reform might soften a weakening of the mortgage interest deduction were quickly dashed as the GOP plan landed a double punch on the incentive cherished by the mortgage and housing industries. ... Read full article

But the home mortgage deduction for existing mortgages would be preserved, according to a two-page outline of the House GOP tax reform bill. Meanwhile, homebuilder stocks initially plunged. ... Read full article