Articles Tagged with ''Tax reform''

Fannie Mae reports comprehensive income of $3.9 billion

Returns just $938 million to Treasury
Fannie Mae reported an increase in its net income in the first quarter of 2018, rising from the loss last quarter that was driven by a remeasurement in the company's deferred tax assets from the recently passed tax reform legislation. Now, it is preparing to pay out $938 million to the Treasury.
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Freddie Mac Q1 earnings increase driven by tax reform

Will not make payment to Treasury
While tax reform may have forced the GSE to make a draw from the Treasury during the fourth quarter, this quarter, the tables have changed. Freddie Mac announced the changes to the tax law helped drive its first-quarter growth. But it’s still not making a payment to the Treasury. Here’s why.
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Trump tax cuts fail to provide boost to nation’s GDP

Low GDP reflects current “housing crisis”
Gross domestic product was a disappointment, shrinking in the first quarter despite the recent tax cuts passed at the end of 2017. One expert explained that the current slowdown reflects an ongoing housing crisis, and what can be done to reverse it.
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Northwest housing activity heats up at start of 2018

Fears of tax reform impact lessen
Housing activity in the Northwest sped up at the start of 2018 despite fears that tax reform would slow it down, according to the latest report from Northwest Multiple Listing Service. But although interest rates are rising and inventory is still tight, the local market in the Northwest remains competitive.
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IRS: Interest paid on home equity loans is still deductible under new tax plan

But not in every case
The country’s new tax laws, ushered in by President Donald Trump and his Republican counterparts late last year, will bring many changes to the mortgage industry. Namely, the plan reduces the available mortgage interest deduction from $1 million to $750,000. But what’s the impact of the tax plan on home equity loans, home equity lines of credit, and second mortgages? The IRS has answers.
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Black Knight nets $111M in profit on new tax code

"Another successful year for Black Knight"
Mortgage analytics and software provider Black Knight announced its results for both the fourth quarter of 2017 and for the full year. The company reports revenues for the fourth quarter of 2017 increased 2% to $267.5 million from $261.5 million in the prior year quarter.
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Housing industry applauds Trump’s State of the Union address

But will the booming economy solve housing affordability issues?
As expected, the president touched on topics such as recently passed tax reform and the ongoing immigration debate in his State of the Union address Tuesday night. Housing experts applauded the president’s speech, but one pointed out that while Trump’s claimed the economy is booming, low levels of affordability and rising home prices continue to plague the housing market.
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NAR: Pending home sales rise for 3rd straight month, but there’s trouble on the horizon

Realtors wary of tax reform impact on home sales
Pending home sales rose in December for the third straight month, providing further evidence that 2017 was a positive year for housing, but the National Association of Realtors doesn’t expect the good times to keep rolling. But combine continually low housing inventory and the Republican tax plan and you have a recipe for a slowdown, according to NAR Chief Economist Lawrence Yun.
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New York, New Jersey, Connecticut plan to sue federal government over GOP tax bill

Take issue with elimination of state and local tax deductions
The states of New York, New Jersey, and Connecticut are planning to sue the federal government over the Republican-led tax reform bill, which President Donald Trump signed into law late last year. Each of the three states’ governors say that their residents will be harmed by the tax plan’s cap on state and local tax deductions.
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