Items Tagged with 'Federal Reserve Bank of New York'

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NY Fed president compares Wells Fargo fake account scandal to subprime mortgage crisis

Dudley: Like subprime crisis, compensation made bankers ignore consequences
The president of the Federal Reserve Bank of New York told the Banking Standards Board in London on Tuesday that he sees quite a few similarities between the Wells Fargo fake account scandal and the subprime mortgage crisis of the late 2000’s. "Compensation, once again, seems to be at the center of a scandal," NY Fed President William Dudley said in the speech.
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[CHARTS] Notably fewer rejections for mortgage refis as credit profiles improve

Lower credit consumers stay away from rising interest rates
As interest rates continue to increase, mortgage refinance applications are decreasing. However, as the last few households rushed in to apply for a refi before rates increased further, rejection rates dropped. These charts from the Federal Reserve Bank of New York explain the latest trends in mortgage refinances.
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Federal Reserve: Mortgage debt rises to 4-year high

Mortgage debt increased by $120 billion in first quarter
The amount of money that Americans owe to mortgage lenders rose to the highest level in more than four years during the first quarter, according to a new report from the Federal Reserve Bank of New York. Click through to read the full details.
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Goldman Sachs fined $50 million for Federal Reserve leak

Former Goldman employee joined from Fed, shared confidential documents
The so-called revolving door between financial regulators and the private sector has finally swung around and bitten one of those private companies right where it hurts – their bottom line. Goldman Sachs will pay $50 million in fines after an investigation found that a former employee improperly shared confidential information obtained from the Federal Reserve Bank of New York.
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What forces are driving millennials home?

4 charts explain the situation of young workers
Millennials are slow to enter homeownership, opting lately to go with the cheaper option of living with their parents. A new study attempts to answer what forces might be driving millennials home.
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Mortgage lending reverses yearlong trend

NY Fed: Mortgage debt increases $35 billion in third quarter
The NY Fed report also shows that the amount of mortgage debt held by households increased by $35 billion from the second quarter to the third quarter, rising to a total of $8.13 trillion. But how did the rest of the mortgage market fare?
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