WASHINGTON, March 7 (Reuters) – The U.S. Consumer Financial
Protection Bureau has hired an outside firm to study fairness in
its employees’ performance ratings, the agency said on Friday in
response to concerns about discrimination.
The CFPB came under scrutiny after the American Banker, a
trade publication that covers the U.S. financial service
industry, reported this week that the agency’s own data showed
white employees were twice as likely to receive a top rating in
2013 than African-American or Hispanic employees.
WASHINGTON, March 4 (Reuters) – The U.S. Federal Housing
Administration, which turned to the Treasury for aid in 2013,
will avoid that fate this year because of efforts to shore up
its finances, the White House predicted in its budget proposal
Last year, White House budget writers said the FHA, which is
a major provider of mortgages for first-time home buyers, would
need a $943 million Treasury subsidy, but the agency ended up
drawing $1.7 billion when the fiscal year closed on Sept. 30.
WASHINGTON (Reuters) – The independent regulator for Fannie Mae and Freddie Mac should force the government-run companies to finance a federal affordable housing trust fund established by Congress six year ago, the Obama administration said on Tuesday.
U.S. President Barack Obama’s fiscal 2015 budget proposal again calls for a $1 billion appropriation to capitalize the fund. If carried out, it would be the first contributions from the two mortgage finance firms since the National Housing Trust Fund was set up in 2008.
March 3 (Reuters) – Mutual fund manager Bruce Berkowitz,
founder of Fairholme Capital Management, is pressing the boards
of the mortgage-finance giants Fannie Mae and Freddie
Mac to let investors have a bigger say in how the
companies are run.
Berkowitz, whose firm filed a lawsuit against the U.S.
government last July over changes made in 2012 to the terms of
the taypayer-funded bailouts of Fannie Mae and Freddie Mac, on
Monday publicly released a letter that he sent to the boards of
WASHINGTON, Feb 27 (Reuters) – Freddie Mac said on
Thursday it will soon send the U.S. Treasury a $10.4 billion
dividend after posting a ninth straight quarterly profit,
putting taxpayers further into the black on their bailout of the
When it makes the payment next month, Freddie Mac will have
paid about $81.8 billion in dividends in return for the $71.3
billion in support it received from the Treasury when it was
bailed out during the financial crisis.
WASHINGTON (Reuters) – The U.S. housing sector is likely to experience an uneven recovery over the next five years, with some local markets bouncing back faster than others, according to a study released on Wednesday.
By 2018, the median price of single-family homes will be close to the peak reached in 2006 before the national market cratered, according to the study from the Demand Institute, a nonprofit think tank operated by The Conference Board and Nielsen. But there will be winners and losers.
WASHINGTON (Reuters) – U.S. home price inflation will slow to less than 7 percent this year as mortgage rates rise and there is a gradual transition away from a market driven by institutional buyers looking for bargains, a Reuters poll found.
But a shortage of homes for sale as well as a severely cold and stormy winter across much of the United States forcing a sharp pullback in housing starts this year is not expected to squeeze prices of existing homes aggressively higher.
WASHINGTON (Reuters) – Foreclosed houses managed by Deutsche Bank in black and Latino neighborhoods had more broken windows, damaged roofs, overgrown lawns and trash in the yard than those it managed in nearby white neighborhoods, a nonprofit group said in a complaint to federal officials on Tuesday.
The bank took much better care of foreclosed homes in white neighborhoods, and also marketed them more effectively, said the National Fair Housing Alliance, which filed its accusations with the U.S. Department of Housing and Urban Development.
WASHINGTON (Reuters) – Former U.S. President George W. Bush on Sunday promoted a new initiative to help veterans transition back to civilian life and aid in the treatment of post-traumatic stress disorder.
The onetime commander-in-chief, who led the United States into war in Afghanistan in 2001 and Iraq in 2003, said he wants to highlight the challenges facing service members returning from war zones, as well as their families.
WASHINGTON (Reuters) – Fannie Mae (FNMA.OB: Quote, Profile, Research, Stock Buzz) said on Friday it would soon send the U.S. Treasury $7.2 billion, a profit-related dividend that makes taxpayers whole for the 2008 bailout of the mortgage-finance giant and its sibling company Freddie Mac (FMCC.OB: Quote, Profile, Research, Stock Buzz).
But unlike other companies rescued by taxpayers during the financial crisis, the firms will remain under government control until Congress winds them down or replaces them.