FHFA announces 2016 conforming loan limits

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

Game changer? Quicken Loans takes mortgage lending fully digital

Launches Rocket Mortgage

Google launches mortgage comparison tool with Zillow

LendingTree will also bring mortgages to Google

Items Tagged with 'Federal Reserve Board'


Feds announce 2016 threshold for smaller, 'higher-priced’ loan appraisal exemption

Exemption amount remains at same level as 2015
The Federal Reserve Board, the Consumer Financial Protection Bureau, and the Office of the Comptroller of the Currency announced the annual adjustment of the dollar amount used to determine whether a small loan is exempt from the special appraisal requirements that apply to higher-priced mortgage loans.
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Fed’s Yellen to Congress: December ‘live possibility’ for interest rate hike

Cautions that no decision has been made
When the Federal Reserve announced last week that it would not be increasing the federal funds rate in November, speculation ran rampant on whether a rate hike would be coming after the next meeting of the Federal Open Market Committee in December. Speaking Wednesday before the House Financial Services Committee, Fed Chair Janet Yellen formalized that possibility.
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Fed proposes new bailout rules for biggest banks

Would be required to carry $120 billion in debt to reduce taxpayer burden
Eight of the country’s largest banks would be required to raise $120 billion to comply with a new rule proposed Friday by the Federal Reserve Board, with the money designated to recapitalize the bank should it fail, lessening the likelihood of a a government bailout.
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Fed again delays interest rate hike

FOMC: The economy is just not ready yet
The Federal Reserve said Wednesday that it is not going to raise the federal funds rate this month, citing the fact that the country’s economy still has not met the targets laid out by the Federal Open Markets Committee. But, the FOMC said that it is open to a rate hike at the next meeting, which is coming in December.
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Federal Reserve still hesitant to raise rates

Meeting minutes show only 1 FOMC member wanted to raise rates in June
The minutes from the June meeting of the Federal Open Market Committee show that nearly all the committee members and the Federal Reserve are still hesitant to increase the federal funds rate. So when is FOMC going to raise rates?
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Yellen: If nothing changes, expect higher interest rates this year

Contingent on “continued improvement” in labor market conditions
As predicted by many economists, the Federal Reserve is indeed considering raising the Federal Funds Rate later this year, Fed Chair Janet Yellen said Friday. And if the economy improves as expected, she believes it will be “appropriate” for the Fed to raise the Federal Funds Rate this year, which in turn, would affect mortgage interest rates.
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Even Ben Bernanke can’t refinance right now

Suggests lenders may have “gone a little bit too far"
Speaking at a conference of the National Investment Center for Seniors Housing and Care in Chicago, Bernanke said that the market is so tight right now that he was unable to refinance his own home loan recently.
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Lawmakers demand more controls on Fed bailout power

Warren, Vitter, Brown, & others lead charge to change "too big to fail" plans
In the letter, the lawmakers write that the Fed’s proposed rule under Section 1101 "places no meaningful restrictions on its emergency lending powers, and in a time of crisis, invites the same sort of backdoor bailout we witnessed five years ago."
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