Government

The Federal Reserve Bank of Minneapolis announced today that Neel Kashkari has been named the company’s 13th president and chief executive officer, effective January 1, 2016. Current President and CEO Narayana Kocherlakota will end his tenure on December 31, concluding a five -ear run as head of the Federal Reserve Bank of Minneapolis.

The Federal Housing Finance Agency announced Tuesday that it will expand the Neighborhood Stabilization Initiative to 18 more metro areas across the country to provide REO relief to communities.

The Bureau of Labor Statistics’ October jobs report released last week far exceeded expectations, generating widespread speculation that the Federal Reserve will raise short-term rates in the Federal Open Market Committee’s final meeting of the year in December.

While consumers anticipate a better labor market to come, they were mixed about inflation, depending on how deeply into the crystal ball they look, the latest Survey of Consumer Expectations from the Federal Reserve Bank of New York showed.

Fannie Mae and Freddie Mac recently announced that the standard mortgage modification interest rate will be under 4 percent for the first time ever since the benchmark was established in January 2012.

Consumer confidence in the housing market declined slightly in October, while wages and salaries struggled and kept many from purchasing a home, according to Fannie Mae's Home Purchase Sentiment Index.

The Consumer Financial Protection Bureau will no longer be the only entity monitoring TILA-RESPA Integrated Disclosure rule compliance among lenders. The Office of the Comptroller of the Currency announced Friday that TRID compliance exams are coming.

October’s healthy job gains of 271,000 reported in the Bureau of Labor Statistics’ (BLS) October 2015 Employment Summary released Friday make a December liftoff by the Fed an extremely likely possibility.

Fannie Mae and Freddie Mac's 2015 third quarter earnings statements have the housing industry buzzing about taxpayers paying the ultimate cost of funding yet another bailout for the GSEs.

The U.S. House of Representatives voted on Thursday to pass an amendment eliminating the use of guarantee fees on mortgages backed by Fannie Mae and Freddie Mac to fund a controversial $47 billion transportation bill known as H.R. 22, or the Developing a Reliable and Innovative Vision for the Economy Act.