Items Tagged with 'Steven Mnuchin'

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Treasury Secretary Mnuchin: Expect GSEs to continue paying dividend

Says second half of the year will focus on GSE reform
Treasury Secretary Steven Mnuchin addressed the Senate Committee on Banking, Housing and Urban Affairs on the future of housing reform. He explained while tax reform has taken up most of his time until this point, the second half of the year will see a higher focus on GSE reform. And what about the FHFA director’s proposal to suspend the dividends? Mnuchin said that’s a no-go.
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Treasury Secretary Mnuchin to address Senate Banking Committee on GSE reform

Mnuchin preparing to suspend GSE dividend payments?
Treasury Secretary Steven Mnuchin is scheduled to appear before the Senate Committee on Banking, Housing and Urban Affairs. Reportedly, the hearing will focus on Mnuchin’s thoughts on GSE reform. One analyst explains how the secretary’s response will indicate if Fannie, Freddie reform is truly a priority for this administration.
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Mnuchin's OneWest subsidiary agrees to $89M settlement for reverse mortgage violations

Alleged misdeeds took place while Treasury Secretary was chairman
Treasury Secretary Steven Mnuchin may be done with the OneWest Bank and its subsidiary, Financial Freedom. But it appears that another section of the government isn’t done with Financial Freedom quite yet. The Department of Justice announced Tuesday that Financial Freedom agreed to an $89 million settlement over reverse mortgage allegations, some of which allegedly took place while Mnuchin was chairman of OneWest.
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Banks petition Mnuchin for help in fighting new loan rule

Say it could make borrowing more expensive
A new rule from the Financial Accounting Standards Board is set to take effect in 2019, but some regional banks are fighting back. In fact, they even sent a letter to Treasury Secretary Steven Mnuchin, asking him to review the rule and explaining it could make borrowing more expensive.
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The long journey ahead for tax reform and what it means for housing

Finally, some details on the proposed plan
Treasury Secretary Steven Mnuchin and White House Chief Economic Advisor Gary Cohn revealed the Trump administration’s tax plan on Wednesday. So what exactly does the industry know so far? Well, for starters, tax reform, including housing-related tax reform, still has a long road ahead. Even with scarce details, housing associations gave their initial assessments of how the tax reform changes would impact the housing market and homebuyers.
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Mnuchin declares support for Republican Dodd-Frank replacement

Mnuchin: The existing regulatory system is limiting our economy
The Financial CHOICE Act, the Republican-crafted replacement for the Dodd-Frank Wall Street Reform and Consumer Protection Act, took its first official steps towards becoming law on Wednesday. And as the bill moves through the legislative process, it will do so with the support of Steven Mnuchin, the secretary of the Department of the Treasury.
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Mnuchin: White House to negotiate 15% corporate tax rate

Here is what is in the tax plan
Wednesday is a big day for the Trump administration. Treasury Secretary Steven Mnuchin and White House chief economic advisor Gary Cohn unveiled their much-anticipated tax reform plan. But first, Mnuchin gave a sneak preview of what to expect in an interview Wednesday morning.
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Monday Morning Cup of Coffee: The dark side of mortgage automation

Plus, the latest on the New York Fed's cyberheist
Lots of people, including your friends here at HousingWire, have noted that the mortgage industry is ripe for tech disruption. But buried in all the good news about efficiency, lower costs and borrower satisfaction is the potential for serious job loss. Here's a look at how the technological revolution could impact the financial services industry. All that, and much more, in your Monday Morning Cup of Coffee.
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Community groups, lenders call for Fannie, Freddie to stop paying dividend to Treasury

Will Trump administration have a different answer?
Fannie Mae and Freddie Mac are scheduled to send their latest dividend payment to the Department of the Treasury later this month, but if a consortium of community groups and lenders has their way, that money will stay with the government-sponsored enterprises to help rebuild their dwindling capital base.
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Trump reportedly considering former OneWest CEO to lead OCC

Joseph Otting worked closely with Treasury Secretary Steven Mnuchin
President Donald Trump is “expected to name” Joseph Otting to serve as the Comptroller of the Currency, one of the country’s top financial regulators, per a CNBC report. Otting served as the CEO of OneWest Bank from 2010 until 2015, working alongside Steven Mnuchin, the recently installed Secretary of the Department of the Treasury and the former chairman of OneWest.
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