The first U.S. coronavirus with unknown origin is sparking calls for more rapid testing. Barack Obama will not endorse Joe Biden ahead of Super Tuesday. The Federal Communications Commission is seeking hundreds of millions of dollars in fines from top carriers that it found failed to safeguard customers’ location data.
And in mortgage news …
A good economy and low interest rates contributed to a big jump in pending home sales in January, according to the National Association of Realtors. The spike builds on a government report released a day earlier that showed new home sales were significantly higher in January. The Mortgage Note looks at where the sales occurred and what it bodes.
Fannie and Freddie to make record high contributions to housing trust funds that support state and local affordable housing programs. The Trump administration has proposed eliminating these federal funds in its 2020 and 2021 budget.
Bank analyst Dick Bove of Odeon Capital downgraded Fannie Mae and Freddie Mac common shares to “sell.”
Former Zillow president predicts iBuyer business will be dominated by two companies.
Comptroller of the Currency Joseph Otting took another swipe at the Federal Reserve over efforts to improve and modernize the Community Reinvestment Act (CRA). CRA reform proposals are meeting resistance from nearly all sectors.
Small banks tell U.S. regulators their preferred index for replacing the Libor benchmark doesn’t work for them.
Controversial Federal Reserve board nominee Judy Shelton advocates a return to the gold standard and favors coordinating White House and federal monetary policy. Her fate is in the hands of two undecided Senate Banking Committee Republicans.