Items Tagged with 'Federal Reserve'

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The most powerful man in banking just quit on President Trump

Daniel Tarullo resigns from Fed board
The Wall Street Journal once referred to Daniel Tarullo as "The Most Powerful Man in Banking". Come April 5, that statement will no longer apply. Tarullo submitted his resignation as a member of the Board of Governors of the Federal Reserve System, in a letter to President Donald Trump.
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Fed's Bullard says GSE reform could lead Fed to dump Fannie, Freddie holdings

Federal Reserve Bank of St. Louis president on future of housing
While it's clear the Trump administration plans to move on GSE reform, what isn’t known yet is just what those plans will look like. Further, what impact will those plans put on the country’s financial system? One area where the Trump administration’s GSE plans could reverberate is on the Federal Reserve and its mortgage bond holdings.
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Fed does not raise interest rates in first meeting of 2017

First meeting since the Fed raised interest rates in December
In the first meeting of the year and also the first meeting since the FOMC last voted to raise interest rates, the Federal Open Market Committee unanimously voted to maintain the target range for the federal funds rate. After Wednesday’s meeting, there are now only seven scheduled FOMC meetings left for the year.
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ServiceLink fined $65 million for LPS foreclosure deficiencies

Fine related to 2011's industry-wide foreclosure settlement
The ghost of Lender Processing Services came back to haunt ServiceLink and Black Knight Financial Services on Tuesday, as the Federal Reserve, Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corp. announced that they are fining ServiceLink $65 million for the “improper actions” of LPS that contributed to a massive settlement with the government over industry-wide foreclosure misconduct that occurred after the housing crash.
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3 interest rate hikes in 2017? Not a chance

New American exec explains why
The real estate industry is buzzing about the possibility of three interest rate hikes during 2017, but one expert says it will never happen. New American Funding’s executive vice president of capital markets explains that the U.S. economy is not in a position to sustain increasing interest rates.
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Here's more industry response to the Fed raising interest rates

Fed meeting held "little surprise"
Since the majority of the market believed the Federal Reserve would increase interest rates this Wednesday, a lot of economists had time to formulate what this news would mean for the housing market. As the comments continued to pour in, we covered them here. Even though the market already assumed this December increase, it’s what economists believe will happen moving forward that’s most telling.
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