Mortgage servicer Homeward Residential cannot use sampling to support its claims that California-based Sand Canyon Corp misled investors when it sold thousands of loans to a mortgage-backed securities trust, causing massive losses when the loans defaulted, a federal judge ruled.
America’s top financial regulator said on Tuesday “everything is up for a fresh look” as the Federal Reserve considers dialing back some crisis-era banking rules put in place over the last decade, offering hope to Wall Street and Republicans looking to cut red tape.
Large U.S. banks more than doubled their borrowing from the Federal Home Loan Bank System in the past decade in the aftermath of stricter regulations to avert a global credit crisis, a report from the Office of Financial Research released on Tuesday showed.
The U.S. Justice Department is weighing whether a financial enforcement task force created during the Obama administration in the wake of the housing crisis is still relevant, Deputy Attorney General Rod Rosenstein said Wednesday.
President Donald Trump has concluded interviews with the five candidates he is considering to chair the Federal Reserve and could announce a decision as early as next week, a source familiar with the process said on Thursday.
The Federal Reserve’s plan to pare down to its $4.5 trillion balance sheet from this month should go smoothly and not disrupt the Treasuries and mortgage-backed securities markets, the Federal Reserve’s top markets official said on Wednesday.
One of the Federal Reserve’s newest policymakers said on Friday he continues to believe the U.S. central bank should raise interest rates again by the end of the year, though he is “not wedded” to that position.
The trade group representing U.S. homebuilders has abandoned its demand that a new version of the tax code include a mortgage interest deduction, signaling on Tuesday that it would consider alternatives to boost home ownership.
Equifax Inc promised to make it easier for consumers to control access to their credit records in the wake of the company’s massive breach after the top U.S. consumer financial watchdog called on the industry to introduce such a system.
The U.S. consumer finance watchdog agency is expected to punish Equifax for its cyber breach with the wide-ranging powers it has used with Wall Street, former agency officials and lawyers said this week.