Links in “Banks”
- Watt Delays G-Fees Increase
Mel Watt, who is set to take the reins at FHFA January 6, said he intends to delay implementation of the agencyâs guarantee fees and risk-based pricing plan for Fannie Mae and Freddie Mac. The increases spelled a likely hike in mortgage rates, causing an outcry from some groups. [12/31]
- Downslope of the Bell Curve: A Look into the Number of Bank Failures
A look at 9 years of bank failures, which hit 25 in 2008, peaked at 157 in 2010, before declining to 24 in 2013. [12/31]
- Happy New Year: Wells Fargo Settlement Brings Fannie’s Total Haul to $14 Billion
Wells Fargo pays $591 million to resolve repurchase demands on loans sold to the government-backed firm before Jan. 1, 2009. [12/31]
- 2014 Forecast: Housing Recovery to Struggle Due to Underemployment and Stricter Mortgage Rules
Forecast sees unemployment and under-employment among the 25- to 35-year-old cohort as having a chilling effect on the number of first-time homebuyers, the group that historically has fueled growth in the housing ecosystem. Also, new qualified mortgage (QM) and ability-to-repay rules will exclude somewhere between 10-20% of borrowers who would have qualified for a loan in 2013. [12/30]
- How Bankers Are Earmarking Expected Revenue Increases in 2014
Survey finds that 85% of respondents expect their bankâs revenue to increase in the next year; 61% of them planned to increase capital spending. Top capital targets for spending were IT (46%), new products and services (37%) and regulatory controls (24%). [12/30]
- 2013 Bright Spot: New Enforcement Orders Cut Nearly in Half
Fed Reserve, FDIC, and the OCC issued 149 new enforcement actions in 2013, a 47% decrease from 2012, when regulators issued a total of 281 actions. [12/30]
- Suggestions for Addressing Requirement of Homeownership Counseling Disclosure
ABA letter to CFPB and HUD proposes solutions for problems financial institutions may have in producing the homeownership counseling disclosure for applications beginning Jan. 14, 2014. [12/27]
- A Look at the Gap Between Bitcoin’s Innovation and Threat
While it is important to recognize that innovation is a vital part of U.S. economy, the financial system must also address the money laundering or terrorist finance concerns of Bitcoin. [12/27]
- 2014 Predictions: 2nd Wind for Housing Recovery, Congressional Dysfunction Eases
Peter Muoio, chief economist for Auction.com Research, shares 11 predictions for 2014. [12/27]
- Fake Target Breach Communications Prompt Target to Create Its Own Breach Website
More fodder for your disaster recovery/business continuity plan: In the aftermath of its massive data security breach, Target sets up special website to communicate with its impacted customers. The move comes in response to reports that customers are being approached by fake communications claiming to be from the company. [12/27]
