A taskforce of banks and institutional investors backed by the New York Federal Reserve Bank on Monday recommended steps to fortify the $1.7trn tri-party repurchase market to help prevent one firm’s problems from spilling over to others. The taskforce is part of the Federal Reserve’s efforts to reduce the risk of future crises.
Most Popular Articles
The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”
Despite last week’s climb in mortgage rates, the Mortgage Bankers Association indicates demand for both purchase and refinance applications held steady, as mortgage applications rose by 9.6%.