American Banker and National Mortgage News are offering an exclusive discussion of how policymakers may revamp Fannie Mae and Freddie Mac and what that will mean for mortgage lenders of all sizes.
The 2020 budget would add the Consumer Financial Protection Bureau and FSOC to congressional appropriations, charge lenders for FHA upgrades and require universities to have skin in the game on student loans.
The legendary Atlanta banking lawyer played a special, often behind-the-scenes role that was part diplomat, mentor and seer during his 50-year career. He died last week at 76.
How well Tim Sloan fares before the House Financial Services Committee will hinge largely on his ability to stay on message in the face of what is expected to be sharp criticism from Democratic lawmakers.
Wells Fargo CEO Tim Sloan said that the megabank has worked to address past issues and is equally committed to preventing new problems from arising, despite reports suggesting otherwise.
Mark Calabria, who could be confirmed as early as this month, is expected to focus on changes to Fannie Mae and Freddie Mac’s conservatorships to let the mortgage giants keep more of their profits.
While there is no formal mandate to pursue a merger and other options are still being considered, Deutsche Bank Chief Executive Christian Sewing is said to have given up his resistance to doing a deal this year.
The upstart lenders have been chipping away at credit cards’ consumer-lending dominance by offering fixed-rate loans with predictable repayment plans. Now the card giants are fighting back.
